NBT Bank N A NY Sells 1,207 Shares of Prudential Financial, Inc. $PRU

NBT Bank N A NY reduced its stake in Prudential Financial, Inc. (NYSE:PRU) by 4.8% in the second quarter, Holdings Channel.com reports. The fund owned 23,869 shares of the financial services provider’s stock after selling 1,207 shares during the period. NBT Bank N A NY’s holdings in Prudential Financial were worth $2,564,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. boosted its stake in Prudential Financial by 90.2% during the first quarter. Meeder Asset Management Inc. now owns 234 shares of the financial services provider’s stock valued at $26,000 after buying an additional 111 shares during the period. Cheviot Value Management LLC bought a new stake in Prudential Financial during the first quarter valued at $26,000. North Capital Inc. bought a new stake in Prudential Financial during the first quarter valued at $28,000. AlphaQuest LLC boosted its stake in Prudential Financial by 12,250.0% during the first quarter. AlphaQuest LLC now owns 247 shares of the financial services provider’s stock valued at $28,000 after buying an additional 245 shares during the period. Finally, Opal Wealth Advisors LLC bought a new stake in Prudential Financial during the first quarter valued at $30,000. Institutional investors own 56.83% of the company’s stock.

Prudential Financial Stock Up 0.4%

Shares of NYSE:PRU opened at $103.68 on Wednesday. Prudential Financial, Inc. has a 1 year low of $90.38 and a 1 year high of $130.55. The company has a market cap of $36.49 billion, a PE ratio of 22.99, a P/E/G ratio of 0.91 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. The stock’s 50-day moving average is $105.18 and its 200 day moving average is $104.74.

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

Prudential Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 11th. Shareholders of record on Tuesday, August 19th were issued a dividend of $1.35 per share. The ex-dividend date was Tuesday, August 19th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 5.2%. Prudential Financial’s dividend payout ratio is 119.73%.

Insider Buying and Selling at Prudential Financial

In other Prudential Financial news, EVP Ann M. Kappler sold 4,000 shares of the company’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 transaction of $438,600.00. Following the transaction, the executive vice president owned 21,506 shares in the company, valued at approximately $2,358,132.90. This represents a 15.68% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Morgan Stanley raised their price target on Prudential Financial from $117.00 to $118.00 and gave the company an “equal weight” rating in a research report on Tuesday. Piper Sandler lowered their price target on Prudential Financial from $109.00 to $108.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 16th. Wolfe Research began coverage on Prudential Financial in a research report on Tuesday, September 16th. They set a “peer perform” rating on the stock. Wall Street Zen upgraded Prudential Financial from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Prudential Financial in a research note on Saturday, September 27th. One equities research analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $122.17.

Prudential Financial Company 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.