Bank of Jackson Hole Trust Makes New Investment in Prudential Financial, Inc. (NYSE:PRU)

Bank of Jackson Hole Trust bought a new position in shares of Prudential Financial, Inc. (NYSE:PRU) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 3,485 shares of the financial services provider’s stock, valued at approximately $413,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Savant Capital LLC lifted its stake in shares of Prudential Financial by 0.6% during the 4th quarter. Savant Capital LLC now owns 14,382 shares of the financial services provider’s stock worth $1,705,000 after purchasing an additional 83 shares during the period. Grove Bank & Trust raised its position in shares of Prudential Financial by 65.9% in the 4th quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock worth $26,000 after buying an additional 87 shares during the period. Avidian Wealth Enterprises LLC raised its position in shares of Prudential Financial by 1.2% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 7,357 shares of the financial services provider’s stock worth $891,000 after buying an additional 89 shares during the period. Asset Dedication LLC raised its position in shares of Prudential Financial by 28.4% in the 4th quarter. Asset Dedication LLC now owns 420 shares of the financial services provider’s stock worth $50,000 after buying an additional 93 shares during the period. Finally, RNC Capital Management LLC raised its position in shares of Prudential Financial by 3.3% in the 4th quarter. RNC Capital Management LLC now owns 2,990 shares of the financial services provider’s stock worth $354,000 after buying an additional 95 shares during the period. Institutional investors and hedge funds own 56.83% of the company’s stock.

Prudential Financial Stock Up 0.1 %

Shares of Prudential Financial stock opened at $111.71 on Wednesday. The company has a market capitalization of $39.99 billion, a PE ratio of 14.95, a P/E/G ratio of 0.99 and a beta of 1.31. Prudential Financial, Inc. has a 1-year low of $104.44 and a 1-year high of $130.55. The business has a 50-day moving average of $117.46 and a 200-day moving average of $119.71. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.16 and a quick ratio of 0.16.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Tuesday, February 4th. The financial services provider reported $2.96 EPS for the quarter, missing analysts’ consensus estimates of $3.36 by ($0.40). Prudential Financial had a return on equity of 15.86% and a net margin of 4.01%. As a group, equities analysts forecast that Prudential Financial, Inc. will post 14.34 EPS for the current fiscal year.

Prudential Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Tuesday, February 18th will be paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 4.83%. This is an increase from Prudential Financial’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Tuesday, February 18th. Prudential Financial’s dividend payout ratio (DPR) is 69.61%.

Insider Buying and Selling

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 537,249 shares of the business’s stock in a transaction on Monday, November 25th. The shares were purchased at an average price of $27.92 per share, with a total value of $14,999,992.08. Following the completion of the acquisition, the insider now directly owns 4,780,293 shares of the company’s stock, valued at approximately $133,465,780.56. The trade was a 12.66 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Jefferies Financial Group increased their target price on Prudential Financial from $149.00 to $152.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. TD Cowen increased their target price on Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a research report on Wednesday, November 27th. Evercore ISI upgraded Prudential Financial from an “underperform” rating to an “inline” rating and increased their price target for the company from $117.00 to $140.00 in a report on Thursday, November 14th. Barclays increased their price target on Prudential Financial from $128.00 to $134.00 and gave the company an “equal weight” rating in a report on Wednesday, February 5th. Finally, Piper Sandler lowered their price target on Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $125.46.

About Prudential Financial

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.