Hilltop National Bank Makes New Investment in Prudential Financial, Inc. $PRU

Key Points

• Hilltop National Bank has acquired 11,162 shares of Prudential Financial, valued at approximately $1,199,000, marking a new investment during the second quarter.
• Prudential Financial's stock has seen changes in institutional holdings, with multiple hedge funds increasing their stakes, making up 56.83% of the stock's ownership.
• Analysts have updated their ratings on Prudential Financial, with a consensus rating of "Hold" and an average price target of $122.08.

Hilltop National Bank acquired a new position in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 11,162 shares of the financial services provider's stock, valued at approximately $1,199,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC boosted its holdings in shares of Prudential Financial by 3.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 20,771 shares of the financial services provider's stock worth $2,320,000 after buying an additional 721 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in shares of Prudential Financial by 3.0% in the 1st quarter. Acadian Asset Management LLC now owns 109,447 shares of the financial services provider's stock worth $12,217,000 after buying an additional 3,183 shares during the last quarter. Golden State Wealth Management LLC boosted its holdings in shares of Prudential Financial by 728.4% in the 1st quarter. Golden State Wealth Management LLC now owns 845 shares of the financial services provider's stock worth $94,000 after buying an additional 743 shares during the last quarter. HighTower Advisors LLC boosted its holdings in shares of Prudential Financial by 68.2% in the 1st quarter. HighTower Advisors LLC now owns 110,794 shares of the financial services provider's stock worth $12,373,000 after buying an additional 44,937 shares during the last quarter. Finally, Exchange Traded Concepts LLC boosted its holdings in shares of Prudential Financial by 9.7% in the 1st quarter. Exchange Traded Concepts LLC now owns 2,501 shares of the financial services provider's stock worth $279,000 after buying an additional 222 shares during the last quarter. 56.83% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Prudential Financial

In other Prudential Financial news, EVP Ann M. Kappler sold 4,000 shares of Prudential Financial stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $109.65, for a total transaction of $438,600.00. Following the completion of the sale, the executive vice president directly owned 21,506 shares in the company, valued at $2,358,132.90. The trade was a 15.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.25% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on PRU shares. JPMorgan Chase & Co. upped their price objective 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. Wall Street Zen raised shares of Prudential Financial from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Morgan Stanley upped their price objective on shares of Prudential Financial from $113.00 to $117.00 and gave the company an "equal weight" rating in a report on Monday, August 18th. Wolfe Research started coverage on shares of Prudential Financial in a report on Tuesday, September 16th. They set a "peer perform" rating on the stock. Finally, Piper Sandler dropped their price objective on shares of Prudential Financial from $109.00 to $108.00 and set a "neutral" rating on the stock in a report on Wednesday, July 16th. One investment analyst has rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $122.08.

Prudential Financial Trading Down 1.1%

Shares of PRU opened at $101.87 on Friday. The business's 50-day moving average price is $105.21 and its 200-day moving average price is $104.91. Prudential Financial, Inc. has a twelve month low of $90.38 and a twelve month high of $130.55. The stock has a market cap of $35.86 billion, a PE ratio of 22.59, a P/E/G ratio of 0.91 and a beta of 1.04. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.60.

Prudential Financial (NYSE:PRU - Get Free Report) last announced its earnings results on Wednesday, July 30th. The financial services provider reported $3.58 earnings per share for the quarter, beating analysts' consensus estimates of $3.22 by $0.36. Prudential Financial had a net margin of 2.75% and a return on equity of 15.80%. The business had revenue of $13.50 billion for the quarter, compared to the consensus estimate of $13.47 billion. During the same period last year, the firm posted $3.39 earnings per share. Prudential Financial's quarterly revenue was down 2.5% on a year-over-year basis. On average, equities analysts forecast that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 11th. Shareholders of record on Tuesday, August 19th were given a dividend of $1.35 per share. The ex-dividend date was Tuesday, August 19th. This represents a $5.40 annualized dividend and a yield of 5.3%. Prudential Financial's payout ratio is presently 119.73%.

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.

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