Hancock Whitney Corp reduced its position in Prudential Financial, Inc. (NYSE:PRU – Get Rating) by 13.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,619 shares of the financial services provider’s stock after selling 400 shares during the period. Hancock Whitney Corp’s holdings in Prudential Financial were worth $225,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Total Clarity Wealth Management Inc. acquired a new position in Prudential Financial in the 2nd quarter worth about $25,000. Wagner Wealth Management LLC bought a new stake in shares of Prudential Financial during the 2nd quarter worth about $26,000. Psagot Value Holdings Ltd. Israel bought a new stake in shares of Prudential Financial during the 1st quarter worth about $35,000. Fairfield Bush & CO. bought a new stake in shares of Prudential Financial during the 1st quarter worth about $36,000. Finally, Pacific Center for Financial Services bought a new stake in shares of Prudential Financial during the 2nd quarter worth about $31,000. 56.33% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at Prudential Financial
In related news, major shareholder Prudential Financial Inc bought 285,715 shares of the company’s stock in a transaction dated Thursday, November 17th. The stock was acquired at an average cost of $35.00 per share, with a total value of $10,000,025.00. Following the acquisition, the insider now owns 285,715 shares in the company, valued at approximately $10,000,025. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Timothy L. Schmidt sold 2,000 shares of the firm’s stock in a transaction on Wednesday, December 14th. The stock was sold at an average price of $103.55, for a total transaction of $207,100.00. Following the completion of the sale, the senior vice president now directly owns 16,198 shares of the company’s stock, valued at approximately $1,677,302.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Prudential Financial Inc purchased 285,715 shares of the company’s stock in a transaction that occurred on Thursday, November 17th. The shares were acquired at an average cost of $35.00 per share, with a total value of $10,000,025.00. Following the completion of the acquisition, the insider now directly owns 285,715 shares in the company, valued at $10,000,025. The disclosure for this purchase can be found here. 0.31% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
Prudential Financial Price Performance
Shares of PRU stock opened at $101.01 on Monday. Prudential Financial, Inc. has a 12 month low of $85.46 and a 12 month high of $124.22. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 1.16. The stock has a 50 day moving average of $103.43 and a two-hundred day moving average of $98.71. The company has a market capitalization of $37.58 billion, a P/E ratio of 140.29 and a beta of 1.41.
Prudential Financial (NYSE:PRU – Get Rating) last issued its earnings results on Tuesday, November 1st. The financial services provider reported $2.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.21 by ($0.08). Prudential Financial had a return on equity of 10.20% and a net margin of 0.52%. The company had revenue of $21.61 billion during the quarter, compared to analyst estimates of $12.76 billion. As a group, equities analysts expect that Prudential Financial, Inc. will post 9.62 EPS for the current year.
Prudential Financial Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, December 15th. Stockholders of record on Tuesday, November 22nd were issued a $1.20 dividend. The ex-dividend date of this dividend was Monday, November 21st. This represents a $4.80 dividend on an annualized basis and a dividend yield of 4.75%. Prudential Financial’s payout ratio is presently 666.67%.
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 eight segments: PGIM, Retirement, Group Insurance, Individual Annuities, Individual Life, Assurance IQ, International Businesses, and Closed Block.
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