US Bancorp DE Has $13.96 Million Stock Position in Prudential Financial, Inc. $PRU

Key Points

• US Bancorp DE reduced its holdings in Prudential Financial, Inc. by 7.6% in Q2, bringing their position to 129,933 shares worth approximately $13.96 million.
• The company declared a dividend of $1.35 per share, representing an annualized yield of 5.5%, with a relatively high dividend payout ratio of 119.73%.
• Prudential Financial's stock is currently trading at $99.08, with Wall Street analysts giving it an average rating of "Hold" and a price target average of $122.27.

US Bancorp DE lowered its holdings in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 7.6% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 129,933 shares of the financial services provider's stock after selling 10,692 shares during the period. US Bancorp DE's holdings in Prudential Financial were worth $13,960,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of PRU. Allspring Global Investments Holdings LLC grew its position in Prudential Financial by 3.6% during 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 acquiring an additional 721 shares during the last quarter. Acadian Asset Management LLC grew its position in Prudential Financial by 3.0% during the 1st quarter. Acadian Asset Management LLC now owns 109,447 shares of the financial services provider's stock worth $12,217,000 after acquiring an additional 3,183 shares during the last quarter. Golden State Wealth Management LLC grew its position in Prudential Financial by 728.4% during the 1st quarter. Golden State Wealth Management LLC now owns 845 shares of the financial services provider's stock worth $94,000 after acquiring an additional 743 shares during the last quarter. HighTower Advisors LLC grew its position in Prudential Financial by 68.2% during the 1st quarter. HighTower Advisors LLC now owns 110,794 shares of the financial services provider's stock worth $12,373,000 after acquiring an additional 44,937 shares during the last quarter. Finally, Exchange Traded Concepts LLC grew its position in Prudential Financial by 9.7% during the 1st quarter. Exchange Traded Concepts LLC now owns 2,501 shares of the financial services provider's stock worth $279,000 after acquiring an additional 222 shares during the last quarter. Institutional investors and hedge funds own 56.83% of the company's stock.

Prudential Financial Trading Down 3.4%

NYSE PRU opened at $99.08 on Friday. The business has a 50 day simple moving average of $105.15 and a 200 day simple moving average of $104.47. Prudential Financial, Inc. has a one year low of $90.38 and a one year high of $130.55. The stock has a market capitalization of $34.88 billion, a P/E ratio of 21.97, a P/E/G ratio of 0.88 and a beta of 1.04. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.16 and a quick ratio of 0.16.

Prudential Financial (NYSE:PRU - Get Free Report) last released its earnings results on Wednesday, January 15th. The financial services provider reported $3.58 EPS for the quarter. Prudential Financial had a return on equity of 15.80% and a net margin of 2.75%.The business had revenue of $8.35 billion during the quarter. Research analysts expect that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 11th. Shareholders of record on Tuesday, August 19th were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date of this dividend was Tuesday, August 19th. Prudential Financial's dividend payout ratio (DPR) is 119.73%.

Insider Buying and Selling

In other Prudential Financial news, EVP Ann M. Kappler sold 4,000 shares of the firm's stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $109.65, for a total value of $438,600.00. Following the completion of the sale, the executive vice president owned 21,506 shares of the company's stock, valued at approximately $2,358,132.90. This trade represents 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 hyperlink. Company insiders own 0.25% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Wall Street Zen upgraded Prudential Financial from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Wolfe Research began coverage on Prudential Financial in a research report on Tuesday, September 16th. They issued a "peer perform" rating on the stock. Piper Sandler decreased their price target on Prudential Financial from $109.00 to $108.00 and set a "neutral" rating for the company in a research note on Wednesday, July 16th. Weiss Ratings reissued a "hold (c)" rating on shares of Prudential Financial in a research note on Wednesday. Finally, Barclays decreased their price target on Prudential Financial from $120.00 to $117.00 and set an "equal weight" rating for the company in a research note on Wednesday. One research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $122.27.

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.

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