UMB Bank n.a. Acquires 97 Shares of Prudential Financial, Inc. (NYSE:PRU)

UMB Bank n.a. boosted its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 2.7% during the third quarter, HoldingsChannel reports. The fund owned 3,660 shares of the financial services provider’s stock after purchasing an additional 97 shares during the quarter. UMB Bank n.a.’s holdings in Prudential Financial were worth $443,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of PRU. Creekmur Asset Management LLC boosted its stake in shares of Prudential Financial by 78.8% in the 1st quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 108 shares during the last quarter. Lynx Investment Advisory bought a new stake in shares of Prudential Financial in the 2nd quarter valued at $29,000. Strategic Financial Concepts LLC boosted its stake in shares of Prudential Financial by 1,312.4% in the 2nd quarter. Strategic Financial Concepts LLC now owns 26,934 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 25,027 shares during the last quarter. Crewe Advisors LLC bought a new stake in shares of Prudential Financial in the 1st quarter valued at $33,000. Finally, ESL Trust Services LLC bought a new stake in shares of Prudential Financial in the 1st quarter valued at $34,000. 56.83% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on PRU. JPMorgan Chase & Co. upped their price objective on shares of Prudential Financial from $118.00 to $128.00 and gave the company a “neutral” rating in a research note on Tuesday, July 2nd. Wells Fargo & Company boosted their target price on shares of Prudential Financial from $113.00 to $116.00 and gave the company an “equal weight” rating in a research report on Thursday. Jefferies Financial Group dropped their target price on shares of Prudential Financial from $143.00 to $141.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. Citigroup boosted their target price on shares of Prudential Financial from $104.00 to $120.00 and gave the company a “neutral” rating in a research report on Tuesday, July 23rd. Finally, TD Cowen initiated coverage on shares of Prudential Financial in a research report on Wednesday. They set a “hold” rating and a $130.00 target price on the stock. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $123.69.

Prudential Financial Stock Performance

Shares of PRU stock opened at $123.72 on Friday. The firm has a 50-day moving average of $116.93 and a 200-day moving average of $117.15. The company has a market cap of $44.42 billion, a P/E ratio of 21.04, a P/E/G ratio of 0.97 and a beta of 1.30. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.13 and a quick ratio of 0.13. Prudential Financial, Inc. has a one year low of $87.95 and a one year high of $128.52.

Prudential Financial (NYSE:PRU) last announced its earnings results on Thursday, August 1st. The financial services provider reported $3.39 EPS for the quarter, missing the consensus estimate of $3.43 by ($0.04). The firm had revenue of $13.84 billion during the quarter, compared to analysts’ expectations of $13.78 billion. Prudential Financial had a net margin of 4.86% and a return on equity of 16.00%. Equities research analysts forecast that Prudential Financial, Inc. will post 13.28 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Tuesday, August 20th were issued a $1.30 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $5.20 annualized dividend and a dividend yield of 4.20%. Prudential Financial’s dividend payout ratio is currently 88.44%.

Insider Activity

In other news, EVP Ann M. Kappler sold 2,839 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $113.43, for a total value of $322,027.77. Following the completion of the sale, the executive vice president now owns 14,535 shares in the company, valued at $1,648,705.05. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP Caroline Feeney sold 1,110 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total transaction of $133,166.70. Following the completion of the transaction, the executive vice president now owns 10,175 shares in the company, valued at approximately $1,220,694.75. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ann M. Kappler sold 2,839 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $113.43, for a total transaction of $322,027.77. Following the transaction, the executive vice president now owns 14,535 shares of the company’s stock, valued at approximately $1,648,705.05. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by corporate insiders.

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.