OLD National Bancorp IN Purchases 1,000 Shares of Prudential Financial, Inc. (NYSE:PRU)

OLD National Bancorp IN grew its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 17.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,840 shares of the financial services provider’s stock after buying an additional 1,000 shares during the period. OLD National Bancorp IN’s holdings in Prudential Financial were worth $811,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Busey Bank purchased a new stake in Prudential Financial during the fourth quarter valued at about $211,000. Strategic Blueprint LLC lifted its stake in shares of Prudential Financial by 57.8% during the 4th quarter. Strategic Blueprint LLC now owns 3,075 shares of the financial services provider’s stock valued at $364,000 after buying an additional 1,126 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in Prudential Financial by 1.6% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 205,595 shares of the financial services provider’s stock worth $24,369,000 after buying an additional 3,235 shares during the period. Asset Dedication LLC grew its stake in Prudential Financial by 28.4% in the 4th quarter. Asset Dedication LLC now owns 420 shares of the financial services provider’s stock valued at $50,000 after buying an additional 93 shares in the last quarter. Finally, Orca Wealth Management LLC bought a new stake in Prudential Financial during the 4th quarter valued at $3,424,000. Institutional investors own 56.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Bank of America lifted their price target on Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Piper Sandler decreased their price target on Prudential Financial from $127.00 to $124.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Wells Fargo & Company cut their price objective 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. Barclays increased their target price on shares of Prudential Financial from $127.00 to $128.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 23rd. Finally, BMO Capital Markets assumed coverage on shares of Prudential Financial in a research report on Thursday, January 23rd. They set an “underperform” rating and a $101.00 price target for the company. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Prudential Financial presently has a consensus rating of “Hold” and a consensus target price of $125.31.

Insider Transactions at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential bought 537,249 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were purchased at an average price of $27.92 per share, for a total transaction of $14,999,992.08. Following the completion of the acquisition, the insider now owns 4,780,293 shares of the company’s stock, valued at approximately $133,465,780.56. This trade represents a 12.66 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.31% of the company’s stock.

Prudential Financial Price Performance

Shares of Prudential Financial stock opened at $120.52 on Friday. The business’s 50-day moving average price is $120.95 and its 200-day moving average price is $120.67. The firm has a market capitalization of $42.91 billion, a PE ratio of 10.71, a price-to-earnings-growth ratio of 1.13 and a beta of 1.31. Prudential Financial, Inc. has a 12 month low of $100.60 and a 12 month high of $130.55. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.60.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share for the quarter, topping analysts’ consensus estimates of $3.47 by $0.01. The firm had revenue of $19.48 billion during the quarter, compared to analyst estimates of $14.57 billion. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. During the same period in the previous year, the business posted $3.44 EPS. Sell-side analysts forecast that Prudential Financial, Inc. will post 13.24 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th were paid a dividend of $1.30 per share. The ex-dividend date was Tuesday, November 19th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.31%. Prudential Financial’s dividend payout ratio (DPR) is currently 46.22%.

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.