Texas Bank & Trust Co Takes $497,000 Position in Prudential Financial, Inc. (NYSE:PRU)

Texas Bank & Trust Co acquired a new stake in Prudential Financial, Inc. (NYSE:PRU - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 4,194 shares of the financial services provider's stock, valued at approximately $497,000.

Several other hedge funds also recently added to or reduced their stakes in PRU. Teza Capital Management LLC bought a new stake in shares of Prudential Financial in the 4th quarter valued at approximately $458,000. Tidal Investments LLC grew its position in Prudential Financial by 160.5% in the 4th quarter. Tidal Investments LLC now owns 49,403 shares of the financial services provider's stock valued at $5,856,000 after buying an additional 30,436 shares in the last quarter. State of Wyoming increased its position in shares of Prudential Financial by 97.3% during the 4th quarter. State of Wyoming now owns 3,109 shares of the financial services provider's stock valued at $369,000 after purchasing an additional 1,533 shares during the period. Toronto Dominion Bank increased its position in shares of Prudential Financial by 6.0% during the 4th quarter. Toronto Dominion Bank now owns 203,217 shares of the financial services provider's stock valued at $24,087,000 after purchasing an additional 11,565 shares during the period. Finally, Shay Capital LLC acquired a new position in shares of Prudential Financial during the 4th quarter valued at $652,000. 56.83% of the stock is owned by hedge funds and other institutional investors.

Prudential Financial Price Performance

Shares of Prudential Financial stock traded down $4.05 on Wednesday, reaching $101.82. 2,689,207 shares of the stock were exchanged, compared to its average volume of 1,625,787. The firm's 50 day moving average is $104.77 and its 200-day moving average is $113.77. Prudential Financial, Inc. has a one year low of $90.38 and a one year high of $130.55. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.16 and a current ratio of 0.16. The firm has a market cap of $36.04 billion, a PE ratio of 13.63, a P/E/G ratio of 0.98 and a beta of 1.07.

Prudential Financial (NYSE:PRU - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $3.29 EPS for the quarter, beating analysts' consensus estimates of $3.18 by $0.11. Prudential Financial had a return on equity of 15.86% and a net margin of 4.01%. The firm had revenue of $13.61 billion during the quarter, compared to analysts' expectations of $14.76 billion. During the same quarter last year, the firm posted $3.12 earnings per share. The company's revenue for the quarter was down 38.2% compared to the same quarter last year. As a group, analysts anticipate that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Tuesday, May 20th will be issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 5.30%. The ex-dividend date of this dividend is Tuesday, May 20th. Prudential Financial's dividend payout ratio is 85.58%.

Insider Activity at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential acquired 52,595 shares of the stock in a transaction that occurred on Tuesday, March 25th. The shares were bought at an average price of $28.52 per share, for a total transaction of $1,500,009.40. Following the completion of the transaction, the insider now owns 139,987 shares of the company's stock, valued at approximately $3,992,429.24. This represents a 60.18% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Andrew F. Sullivan sold 6,000 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $105.98, for a total transaction of $635,880.00. Following the completion of the transaction, the executive vice president now directly owns 27,072 shares of the company's stock, valued at approximately $2,869,090.56. This represents a 18.14% decrease in their position. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on PRU shares. UBS Group dropped their target price on shares of Prudential Financial from $130.00 to $122.00 and set a "neutral" rating on the stock in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods dropped their target price on shares of Prudential Financial from $120.00 to $117.00 and set a "market perform" rating on the stock in a research report on Wednesday, May 7th. Morgan Stanley lifted their price target on Prudential Financial from $108.00 to $117.00 and gave the company an "equal weight" rating in a report on Monday. Piper Sandler lowered their price target on Prudential Financial from $110.00 to $109.00 and set a "neutral" rating on the stock in a report on Friday, May 2nd. Finally, Wells Fargo & Company boosted their price objective on shares of Prudential Financial from $108.00 to $113.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $121.08.

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.