Associated Banc Corp Sells 3,987 Shares of Prudential Financial, Inc. (NYSE:PRU)

Associated Banc Corp decreased its holdings in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 7.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,152 shares of the financial services provider's stock after selling 3,987 shares during the period. Associated Banc Corp's holdings in Prudential Financial were worth $5,826,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Savant Capital LLC boosted its holdings in shares of Prudential Financial by 0.6% in the fourth quarter. Savant Capital LLC now owns 14,382 shares of the financial services provider's stock worth $1,705,000 after acquiring an additional 83 shares during the period. Grove Bank & Trust boosted its stake in Prudential Financial by 65.9% during the fourth quarter. Grove Bank & Trust now owns 219 shares of the financial services provider's stock valued at $26,000 after buying an additional 87 shares during the period. HBK Sorce Advisory LLC boosted its stake in Prudential Financial by 1.0% during the fourth quarter. HBK Sorce Advisory LLC now owns 9,417 shares of the financial services provider's stock valued at $1,116,000 after buying an additional 91 shares during the period. Asset Dedication LLC boosted its stake in Prudential Financial by 28.4% during the fourth 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 during the period. Finally, RNC Capital Management LLC boosted its stake in Prudential Financial by 3.3% during the fourth quarter. RNC Capital Management LLC now owns 2,990 shares of the financial services provider's stock valued at $354,000 after buying an additional 95 shares during the period. Institutional investors own 56.83% of the company's stock.

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Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on PRU shares. Piper Sandler dropped 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. TD Cowen raised their price target on Prudential Financial from $130.00 to $133.00 and gave the company a "hold" rating in a research report on Wednesday, November 27th. Morgan Stanley decreased their price objective on Prudential Financial from $136.00 to $128.00 and set an "equal weight" rating on the stock in a report on Friday, February 28th. Keefe, Bruyette & Woods decreased their price objective on Prudential Financial from $129.00 to $125.00 and set a "market perform" rating on the stock in a report on Wednesday, February 12th. Finally, Jefferies Financial Group lifted their price objective on Prudential Financial from $149.00 to $152.00 and gave the stock a "buy" rating in a report on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $126.15.

Prudential Financial Stock Up 0.8 %

Shares of Prudential Financial stock traded up $0.90 during midday trading on Wednesday, hitting $110.64. The company had a trading volume of 1,252,313 shares, compared to its average volume of 1,427,178. The company has a 50 day moving average of $113.96 and a 200 day moving average of $119.24. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.16 and a current ratio of 0.16. Prudential Financial, Inc. has a 52-week low of $104.45 and a 52-week high of $130.55. The stock has a market capitalization of $39.61 billion, a P/E ratio of 14.81, a P/E/G ratio of 0.98 and a beta of 1.28.

Prudential Financial (NYSE:PRU - Get Free Report) last issued its earnings results on Tuesday, February 4th. The financial services provider reported $2.96 EPS for the quarter, missing the consensus estimate of $3.36 by ($0.40). Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. On average, equities analysts predict that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th were paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 4.88%. This is an increase from Prudential Financial's previous quarterly dividend of $1.30. The ex-dividend date was Tuesday, February 18th. Prudential Financial's dividend payout ratio (DPR) is currently 72.29%.

Insider Buying and Selling at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential purchased 87,047 shares of the stock in a transaction dated Wednesday, March 12th. The shares were purchased at an average cost of $28.72 per share, with a total value of $2,499,989.84. Following the acquisition, the insider now directly owns 87,047 shares of the company's stock, valued at $2,499,989.84. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Andrew F. Sullivan sold 6,000 shares of the stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $105.98, for a total value of $635,880.00. Following the transaction, the executive vice president now directly owns 27,072 shares in the company, valued at $2,869,090.56. The trade was a 18.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.31% of the company's stock.

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.