Country Club Bank Lowers Holdings in Prudential Financial, Inc. $PRU

Country Club Bank reduced its stake in Prudential Financial, Inc. (NYSE:PRU) by 0.6% during the second quarter, HoldingsChannel reports. The fund owned 72,518 shares of the financial services provider’s stock after selling 458 shares during the period. Country Club Bank’s holdings in Prudential Financial were worth $7,769,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of PRU. Brighton Jones LLC increased its stake in Prudential Financial by 3.7% during the 4th quarter. Brighton Jones LLC now owns 3,681 shares of the financial services provider’s stock valued at $436,000 after purchasing an additional 133 shares in the last quarter. Patriot Financial Group Insurance Agency LLC increased its position in shares of Prudential Financial by 5.1% during the first quarter. Patriot Financial Group Insurance Agency LLC now owns 5,334 shares of the financial services provider’s stock valued at $596,000 after acquiring an additional 258 shares in the last quarter. OLD National Bancorp IN raised its holdings in Prudential Financial by 2.1% in the 1st quarter. OLD National Bancorp IN now owns 6,984 shares of the financial services provider’s stock worth $780,000 after acquiring an additional 144 shares during the last quarter. Park Avenue Securities LLC lifted its position in Prudential Financial by 14.1% in the 1st quarter. Park Avenue Securities LLC now owns 13,857 shares of the financial services provider’s stock valued at $1,548,000 after acquiring an additional 1,714 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in Prudential Financial by 17.1% during the 1st quarter. Farther Finance Advisors LLC now owns 12,141 shares of the financial services provider’s stock valued at $1,356,000 after purchasing an additional 1,769 shares during the last quarter. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Ann M. Kappler sold 4,000 shares of Prudential Financial stock in a transaction on Friday, August 29th. The stock was sold at an average price of $109.65, for a total transaction of $438,600.00. Following the transaction, the executive vice president directly owned 21,506 shares in the company, valued at approximately $2,358,132.90. The trade was a 15.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.25% of the company’s stock.

Prudential Financial Price Performance

Shares of NYSE:PRU opened at $103.21 on Tuesday. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $36.33 billion, a PE ratio of 22.88, a price-to-earnings-growth ratio of 0.92 and a beta of 1.04. The firm’s 50 day moving average price is $105.18 and its 200-day moving average price is $104.74. Prudential Financial, Inc. has a twelve month low of $90.38 and a twelve month high of $130.55.

Prudential Financial (NYSE:PRU) last announced its earnings results on Wednesday, July 30th. The financial services provider reported $3.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.22 by $0.36. Prudential Financial had a net margin of 2.75% and a return on equity of 15.80%. The company had revenue of $13.50 billion during the quarter, compared to analyst estimates of $13.47 billion. During the same period in the previous year, the business posted $3.39 earnings per share. The firm’s quarterly revenue was down 2.5% compared to the same quarter last year. Equities research analysts expect that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 11th. Investors of record on Tuesday, August 19th were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date of this dividend was Tuesday, August 19th. Prudential Financial’s dividend payout ratio (DPR) is currently 119.73%.

Analyst Ratings Changes

Several research firms have recently weighed in on PRU. Piper Sandler decreased their price target on Prudential Financial from $109.00 to $108.00 and set a “neutral” rating for the company in a research note on Wednesday, July 16th. Wall Street Zen raised Prudential Financial from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. JPMorgan Chase & Co. raised their price target on shares of Prudential Financial from $126.00 to $136.00 and gave the company a “neutral” rating in a report on Tuesday, July 8th. Wells Fargo & Company reduced their price target on shares of Prudential Financial from $116.00 to $113.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 16th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Prudential Financial in a research report on Saturday, September 27th. One analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $122.08.

Prudential Financial Company Profile

Prudential Financial, Inc, together with its subsidiaries, provides insurance, investment management, and other financial products and services in the United States and internationally. It operates through PGIM, Retirement Strategies, Group Insurance, Individual Life, and International Businesses segments.