Piscataqua Savings Bank Has $1.05 Million Stock Holdings in Prudential Financial, Inc. (NYSE:PRU)

Piscataqua Savings Bank reduced its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 1.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,855 shares of the financial services provider’s stock after selling 124 shares during the period. Piscataqua Savings Bank’s holdings in Prudential Financial were worth $1,050,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Grove Bank & Trust grew its position in Prudential Financial by 65.9% in the fourth quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 87 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of Prudential Financial during the 3rd quarter valued at approximately $31,000. Quarry LP increased its position in Prudential Financial by 376.3% during the 3rd quarter. Quarry LP now owns 281 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 222 shares in the last quarter. Retirement Wealth Solutions LLC bought a new position in Prudential Financial in the 4th quarter valued at approximately $37,000. Finally, Tompkins Financial Corp boosted its position in Prudential Financial by 61.7% in the third quarter. Tompkins Financial Corp now owns 367 shares of the financial services provider’s stock valued at $44,000 after buying an additional 140 shares in the last quarter. 56.83% of the stock is currently owned by institutional investors.

Prudential Financial Price Performance

Shares of NYSE:PRU opened at $117.22 on Monday. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.60. The stock has a market cap of $41.73 billion, a PE ratio of 10.42, a PEG ratio of 1.09 and a beta of 1.31. The company’s fifty day moving average is $121.29 and its 200 day moving average is $120.68. Prudential Financial, Inc. has a 52 week low of $100.60 and a 52 week high of $130.55.

Prudential Financial (NYSE:PRU) last issued its earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.47 by $0.01. The firm had revenue of $19.48 billion for the quarter, compared to analysts’ expectations of $14.57 billion. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. During the same quarter last year, the business earned $3.44 earnings per share. Research analysts anticipate that Prudential Financial, Inc. will post 13.24 earnings per share for the current year.

Prudential Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, November 19th were issued a $1.30 dividend. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $5.20 annualized dividend and a yield of 4.44%. Prudential Financial’s dividend payout ratio (DPR) is presently 46.22%.

Analyst Ratings Changes

PRU has been the topic of a number of research reports. Bank of America boosted their price objective on Prudential Financial from $109.00 to $118.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Piper Sandler lowered their price objective on Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. BMO Capital Markets initiated coverage on shares of Prudential Financial in a research report on Thursday. They set an “underperform” rating and a $101.00 target price on the stock. Wells Fargo & Company decreased their price target on shares of Prudential Financial from $117.00 to $115.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. Finally, Evercore ISI upgraded shares of Prudential Financial from an “underperform” rating to an “inline” rating and lifted their price target for the stock from $117.00 to $140.00 in a report on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $125.31.

Insider Transactions at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential purchased 537,249 shares of Prudential Financial stock in a transaction that occurred on Monday, November 25th. The shares were bought at an average cost of $27.92 per share, with a total value of $14,999,992.08. Following the completion of the purchase, the insider now directly owns 4,780,293 shares in the company, valued at approximately $133,465,780.56. This trade represents a 12.66 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.31% of the company’s stock.

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.