Bell Bank Has $8.82 Million Position in Prudential Financial, Inc. $PRU

Key Points

• Bell Bank increased its stake in Prudential Financial by 3.9%, acquiring an additional 3,053 shares, bringing its total holdings to 82,092 shares valued at approximately $8.82 million.
• Prudential Financial reported earnings per share of $3.58, exceeding analysts’ expectations, and had a revenue of $13.50 billion during its latest quarterly earnings.
• The company announced a quarterly dividend of $1.35, representing an annualized dividend of $5.40, with a yield of 5.2% and a payout ratio of 119.73%.

Bell Bank grew its holdings in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 3.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 82,092 shares of the financial services provider's stock after acquiring an additional 3,053 shares during the period. Bell Bank's holdings in Prudential Financial were worth $8,820,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of PRU. Invesco Ltd. boosted its holdings in shares of Prudential Financial by 2.7% during the 1st quarter. Invesco Ltd. now owns 4,440,003 shares of the financial services provider's stock valued at $495,859,000 after purchasing an additional 116,079 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Prudential Financial by 19.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,206,453 shares of the financial services provider's stock worth $469,777,000 after purchasing an additional 678,028 shares during the period. Ameriprise Financial Inc. increased its position in shares of Prudential Financial by 5.6% during the first quarter. Ameriprise Financial Inc. now owns 1,801,551 shares of the financial services provider's stock worth $201,201,000 after acquiring an additional 95,021 shares during the period. Amundi increased its position in shares of Prudential Financial by 14.1% during the first quarter. Amundi now owns 1,751,633 shares of the financial services provider's stock worth $183,571,000 after acquiring an additional 216,119 shares during the period. Finally, Deutsche Bank AG boosted its stake in Prudential Financial by 2.3% in the first quarter. Deutsche Bank AG now owns 1,284,466 shares of the financial services provider's stock valued at $143,449,000 after acquiring an additional 29,025 shares in the last quarter. Institutional investors own 56.83% of the company's stock.

Analyst Ratings Changes

A number of research firms have issued reports on PRU. JPMorgan Chase & Co. raised their price target on shares of Prudential Financial from $126.00 to $136.00 and gave the stock a "neutral" rating in a report on Tuesday, July 8th. Piper Sandler cut their price objective on shares of Prudential Financial from $109.00 to $108.00 and set a "neutral" rating for the company in a report on Wednesday, July 16th. Wall Street Zen raised shares of Prudential Financial from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Morgan Stanley boosted their target price on shares of Prudential Financial from $113.00 to $117.00 and gave the stock an "equal weight" rating in a research note on Monday, August 18th. Finally, Wolfe Research began coverage on shares of Prudential Financial in a research note on Tuesday, September 16th. They set a "peer perform" rating for the company. One analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Prudential Financial presently has a consensus rating of "Hold" and an average price target of $122.08.

Prudential Financial Stock Up 0.9%

Shares of NYSE PRU traded up $0.92 during mid-day trading on Tuesday, reaching $103.77. The company had a trading volume of 202,098 shares, compared to its average volume of 1,752,514. Prudential Financial, Inc. has a 52-week low of $90.38 and a 52-week high of $130.55. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.60. The stock has a market cap of $36.53 billion, a P/E ratio of 23.03, a PEG ratio of 0.92 and a beta of 1.07. The firm has a 50 day simple moving average of $105.25 and a two-hundred day simple moving average of $105.09.

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

Prudential Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 11th. Investors of record on Tuesday, August 19th were paid a $1.35 dividend. The ex-dividend date was Tuesday, August 19th. This represents a $5.40 annualized dividend and a dividend yield of 5.2%. Prudential Financial's dividend payout ratio (DPR) is 119.73%.

Insider Activity at Prudential Financial

In other Prudential Financial news, EVP Ann M. Kappler sold 4,000 shares of Prudential Financial stock in a transaction dated 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 transaction, the executive vice president owned 21,506 shares in the company, valued at approximately $2,358,132.90. The trade was a 15.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.25% of the stock is owned by company insiders.

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.