Community Bank & Trust Waco Texas Raises Holdings in Prudential Financial, Inc. (NYSE:PRU)

Community Bank & Trust Waco Texas grew its stake in Prudential Financial, Inc. (NYSE:PRU) by 3.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 37,405 shares of the financial services provider’s stock after buying an additional 1,372 shares during the quarter. Community Bank & Trust Waco Texas’ holdings in Prudential Financial were worth $3,879,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in the company. FMR LLC increased its holdings in shares of Prudential Financial by 2.9% in the 3rd quarter. FMR LLC now owns 1,315,215 shares of the financial services provider’s stock valued at $124,801,000 after acquiring an additional 36,599 shares during the last quarter. Czech National Bank raised its holdings in Prudential Financial by 46.8% during the third quarter. Czech National Bank now owns 63,444 shares of the financial services provider’s stock worth $6,020,000 after purchasing an additional 20,235 shares in the last quarter. Tyche Wealth Partners LLC purchased a new stake in shares of Prudential Financial during the 4th quarter worth approximately $815,000. Arvest Investments Inc. acquired a new position in shares of Prudential Financial in the 4th quarter valued at $2,112,000. Finally, Victory Capital Management Inc. grew its position in shares of Prudential Financial by 14.5% in the 3rd quarter. Victory Capital Management Inc. now owns 268,728 shares of the financial services provider’s stock valued at $25,500,000 after buying an additional 34,054 shares during the last quarter. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, SVP Timothy L. Schmidt sold 7,912 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $108.13, for a total value of $855,524.56. Following the transaction, the senior vice president now directly owns 14,754 shares of the company’s stock, valued at $1,595,350.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP Timothy L. Schmidt sold 7,912 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $108.13, for a total transaction of $855,524.56. Following the completion of the transaction, the senior vice president now directly owns 14,754 shares in the company, valued at $1,595,350.02. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Robert Axel sold 6,436 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $111.86, for a total transaction of $719,930.96. Following the transaction, the senior vice president now directly owns 7,901 shares of the company’s stock, valued at approximately $883,805.86. The disclosure for this sale can be found here. Insiders have sold 29,255 shares of company stock worth $3,215,664 in the last three months. 0.34% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PRU. Morgan Stanley upped their price objective on shares of Prudential Financial from $109.00 to $117.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Piper Sandler raised their price target on Prudential Financial from $114.00 to $125.00 and gave the stock a “neutral” rating in a research note on Friday, April 5th. Evercore ISI boosted their price objective on Prudential Financial from $104.00 to $115.00 and gave the company an “underperform” rating in a research note on Thursday, April 11th. UBS Group raised their target price on shares of Prudential Financial from $108.00 to $112.00 and gave the stock a “neutral” rating in a research report on Monday, February 12th. Finally, Wells Fargo & Company upped their price target on shares of Prudential Financial from $100.00 to $106.00 and gave the company an “underweight” rating in a research report on Thursday, April 11th. Two equities research analysts have rated the stock with a sell rating and eleven have given a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $111.33.

Prudential Financial Stock Down 0.0 %

NYSE PRU traded down $0.04 during mid-day trading on Wednesday, reaching $112.01. 206,977 shares of the company’s stock traded hands, compared to its average volume of 1,503,928. The company has a market cap of $40.21 billion, a price-to-earnings ratio of 16.75, a P/E/G ratio of 0.76 and a beta of 1.37. The company has a fifty day simple moving average of $111.52 and a 200-day simple moving average of $103.50. 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, Inc. has a 1-year low of $77.22 and a 1-year high of $118.69.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Tuesday, February 6th. The financial services provider reported $2.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.67 by ($0.09). The business had revenue of $13.02 billion during the quarter, compared to the consensus estimate of $12.99 billion. Prudential Financial had a return on equity of 14.52% and a net margin of 4.89%. The company’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.42 earnings per share. As a group, equities research analysts expect that Prudential Financial, Inc. will post 13.38 EPS for the current year.

Prudential Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Tuesday, February 20th were issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 4.64%. This is a boost from Prudential Financial’s previous quarterly dividend of $1.25. The ex-dividend date was Friday, February 16th. Prudential Financial’s dividend payout ratio (DPR) is presently 77.73%.

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.