Fulton Bank N.A. Sells 164 Shares of Prudential Financial, Inc. (NYSE:PRU)

Fulton Bank N.A. reduced its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 2.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,274 shares of the financial services provider’s stock after selling 164 shares during the period. Fulton Bank N.A.’s holdings in Prudential Financial were worth $744,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Avidian Wealth Enterprises LLC grew its position in shares of Prudential Financial by 1.2% in the third quarter. Avidian Wealth Enterprises LLC now owns 7,357 shares of the financial services provider’s stock valued at $891,000 after purchasing an additional 89 shares during the last quarter. Daymark Wealth Partners LLC grew its holdings in Prudential Financial by 3.9% in the 3rd quarter. Daymark Wealth Partners LLC now owns 2,616 shares of the financial services provider’s stock valued at $317,000 after buying an additional 97 shares during the last quarter. UMB Bank n.a. increased its position in Prudential Financial by 2.7% in the 3rd quarter. UMB Bank n.a. now owns 3,660 shares of the financial services provider’s stock worth $443,000 after buying an additional 97 shares during the period. Pure Financial Advisors LLC lifted its holdings in shares of Prudential Financial by 2.7% during the third quarter. Pure Financial Advisors LLC now owns 3,748 shares of the financial services provider’s stock worth $454,000 after buying an additional 97 shares during the last quarter. Finally, Hardy Reed LLC boosted its position in shares of Prudential Financial by 1.6% in the third quarter. Hardy Reed LLC now owns 6,202 shares of the financial services provider’s stock valued at $751,000 after acquiring an additional 98 shares during the period. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on PRU. Piper Sandler upped their target price on shares of Prudential Financial from $121.00 to $127.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Bank of America increased their target price on shares of Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Jefferies Financial Group boosted their price target on Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Wells Fargo & Company lifted their price objective on Prudential Financial from $116.00 to $117.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 5th. Finally, Evercore ISI upgraded Prudential Financial from an “underperform” rating to an “inline” rating and upped their target price for the company from $117.00 to $140.00 in a research note on Thursday, November 14th. Eleven analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $127.17.

Prudential Financial Price Performance

Shares of Prudential Financial stock opened at $118.36 on Friday. Prudential Financial, Inc. has a 1-year low of $100.60 and a 1-year high of $130.55. The firm’s 50-day moving average price is $122.65 and its two-hundred day moving average price is $120.67. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $42.14 billion, a price-to-earnings ratio of 10.52, a P/E/G ratio of 0.87 and a beta of 1.31.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.47 by $0.01. The firm had revenue of $19.48 billion during the quarter, compared to the consensus estimate of $14.57 billion. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. During the same quarter in the previous year, the company posted $3.44 EPS. On average, equities analysts predict that Prudential Financial, Inc. will post 13.35 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, November 19th were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.39%. The ex-dividend date of this dividend was Tuesday, November 19th. Prudential Financial’s dividend payout ratio is presently 46.22%.

Insider Transactions at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential purchased 537,249 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were acquired at an average price of $27.92 per share, with a total value of $14,999,992.08. Following the completion of the purchase, the insider now directly owns 4,780,293 shares of the company’s stock, valued at $133,465,780.56. The trade was a 12.66 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.31% of the stock is owned by company insiders.

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.