OLD National Bancorp IN Has $707,000 Stock Holdings in Prudential Financial, Inc. (NYSE:PRU)

OLD National Bancorp IN lowered its position in Prudential Financial, Inc. (NYSE:PRU) by 1.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,840 shares of the financial services provider’s stock after selling 101 shares during the quarter. OLD National Bancorp IN’s holdings in Prudential Financial were worth $707,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in PRU. Legal & General Group Plc raised its stake in shares of Prudential Financial by 9.4% during the second quarter. Legal & General Group Plc now owns 3,542,400 shares of the financial services provider’s stock valued at $415,134,000 after acquiring an additional 305,143 shares during the last quarter. AustralianSuper Pty Ltd lifted its holdings in Prudential Financial by 2.8% during the 2nd quarter. AustralianSuper Pty Ltd now owns 1,237,537 shares of the financial services provider’s stock worth $145,027,000 after buying an additional 34,160 shares during the period. Federated Hermes Inc. grew its position in shares of Prudential Financial by 8.8% in the 2nd quarter. Federated Hermes Inc. now owns 1,025,527 shares of the financial services provider’s stock valued at $120,181,000 after buying an additional 82,620 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Prudential Financial by 7.2% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 926,641 shares of the financial services provider’s stock valued at $108,788,000 after buying an additional 62,578 shares during the period. Finally, AQR Capital Management LLC raised its position in shares of Prudential Financial by 97.4% during the second quarter. AQR Capital Management LLC now owns 724,244 shares of the financial services provider’s stock worth $84,874,000 after acquiring an additional 357,300 shares during the last quarter. Institutional investors own 56.83% of the company’s stock.

Prudential Financial Stock Down 1.4 %

Prudential Financial stock opened at $125.57 on Tuesday. The firm has a market capitalization of $45.08 billion, a price-to-earnings ratio of 21.36, a price-to-earnings-growth ratio of 0.98 and a beta of 1.30. The firm’s fifty day moving average price is $119.19 and its two-hundred day moving average price is $117.57. Prudential Financial, Inc. has a 1-year low of $87.95 and a 1-year high of $128.52. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.65.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Thursday, August 1st. The financial services provider reported $3.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.43 by ($0.04). The firm had revenue of $13.84 billion for the quarter, compared to analysts’ expectations of $13.78 billion. Prudential Financial had a return on equity of 16.00% and a net margin of 4.86%. On average, equities research analysts predict that Prudential Financial, Inc. will post 13.29 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Tuesday, August 20th were given a $1.30 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $5.20 annualized dividend and a yield of 4.14%. Prudential Financial’s dividend payout ratio is currently 88.44%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Morgan Stanley decreased their target price on shares of Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating for the company in a research report on Monday, August 19th. Wells Fargo & Company increased their price objective on shares of Prudential Financial from $113.00 to $116.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. Piper Sandler boosted their target price on shares of Prudential Financial from $121.00 to $127.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Citigroup lifted their price objective on Prudential Financial from $104.00 to $120.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 23rd. Finally, Argus upgraded Prudential Financial to a “strong-buy” rating in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $123.69.

Insider Buying and Selling at Prudential Financial

In related news, EVP Caroline Feeney sold 1,110 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total value of $133,166.70. Following the transaction, the executive vice president now directly owns 10,175 shares of the company’s stock, valued at approximately $1,220,694.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, major shareholder Insurance Co Of Ame Prudential bought 261,059 shares of the stock in a transaction on Tuesday, October 8th. The shares were purchased at an average cost of $27.58 per share, for a total transaction of $7,200,007.22. Following the completion of the purchase, the insider now directly owns 4,208,549 shares in the company, valued at $116,071,781.42. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Caroline Feeney sold 1,110 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total value of $133,166.70. Following the transaction, the executive vice president now owns 10,175 shares of the company’s stock, valued at $1,220,694.75. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

Prudential Financial 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.