OLD National Bancorp IN Has $779,000 Stock Position in Prudential Financial, Inc. (NYSE:PRU)

OLD National Bancorp IN lowered its stake in Prudential Financial, Inc. (NYSE:PRU) by 45.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,512 shares of the financial services provider’s stock after selling 6,251 shares during the period. OLD National Bancorp IN’s holdings in Prudential Financial were worth $779,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Commerzbank Aktiengesellschaft FI raised its stake in Prudential Financial by 33.9% during the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 3,810 shares of the financial services provider’s stock worth $396,000 after buying an additional 964 shares during the last quarter. CWM LLC boosted its holdings in Prudential Financial by 4.6% during the fourth quarter. CWM LLC now owns 10,977 shares of the financial services provider’s stock worth $1,138,000 after purchasing an additional 480 shares during the last quarter. Criterion Capital Advisors LLC bought a new position in shares of Prudential Financial during the 4th quarter valued at approximately $75,000. Lindbrook Capital LLC grew its position in shares of Prudential Financial by 25.6% during the 4th quarter. Lindbrook Capital LLC now owns 1,424 shares of the financial services provider’s stock valued at $148,000 after acquiring an additional 290 shares during the period. Finally, abrdn plc grew its position in shares of Prudential Financial by 37.5% during the 4th quarter. abrdn plc now owns 1,107,210 shares of the financial services provider’s stock valued at $114,829,000 after acquiring an additional 302,164 shares during the period. Institutional investors and hedge funds own 56.83% of the company’s stock.

Prudential Financial Trading Up 0.5 %

Shares of PRU opened at $112.05 on Wednesday. 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 12-month low of $77.22 and a 12-month high of $118.69. The firm has a 50-day moving average price of $111.52 and a 200 day moving average price of $103.50. The firm has a market capitalization of $40.23 billion, a P/E ratio of 16.75, a P/E/G ratio of 0.76 and a beta of 1.37.

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

Prudential Financial Increases Dividend

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

Insiders Place Their Bets

In other news, EVP Ann M. Kappler sold 7,222 shares of Prudential Financial stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $108.39, for a total transaction of $782,792.58. Following the completion of the sale, the executive vice president now directly owns 24,381 shares in the company, valued at approximately $2,642,656.59. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, EVP Andrew F. Sullivan sold 7,685 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $111.57, for a total transaction of $857,415.45. Following the completion of the sale, the executive vice president now directly owns 13,691 shares of the company’s stock, valued at approximately $1,527,504.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ann M. Kappler sold 7,222 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $108.39, for a total transaction of $782,792.58. Following the sale, the executive vice president now directly owns 24,381 shares of the company’s stock, valued at $2,642,656.59. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,255 shares of company stock valued at $3,215,664. 0.34% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts recently commented on the stock. UBS Group raised their price objective on shares of Prudential Financial from $108.00 to $112.00 and gave the stock a “neutral” rating in a report on Monday, February 12th. Wells Fargo & Company raised their price objective 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. Morgan Stanley lifted their target price on shares of Prudential Financial from $109.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. TheStreet raised shares of Prudential Financial from a “c+” rating to an “a-” rating in a report on Tuesday, February 6th. Finally, Piper Sandler lifted their target price on shares of Prudential Financial from $114.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday, April 5th. 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 company has an average rating of “Hold” and an average price target of $111.33.

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.