Kennebec Savings Bank Makes New Investment in Prudential Financial, Inc. (NYSE:PRU)

Kennebec Savings Bank acquired a new position in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 4,636 shares of the financial services provider's stock, valued at approximately $561,000.

Several other hedge funds also recently made changes to their positions in PRU. International Assets Investment Management LLC boosted its position in Prudential Financial by 4,130.8% during the 3rd quarter. International Assets Investment Management LLC now owns 1,298,257 shares of the financial services provider's stock valued at $157,219,000 after purchasing an additional 1,267,571 shares during the period. AQR Capital Management LLC lifted its holdings in Prudential Financial by 97.4% in the second quarter. AQR Capital Management LLC now owns 724,244 shares of the financial services provider's stock worth $84,874,000 after purchasing an additional 357,300 shares during the period. Swedbank AB acquired a new position in Prudential Financial during the 1st quarter valued at about $35,855,000. Legal & General Group Plc boosted its holdings in shares of Prudential Financial by 9.4% in the second quarter. Legal & General Group Plc now owns 3,542,400 shares of the financial services provider's stock valued at $415,134,000 after acquiring an additional 305,143 shares in the last quarter. Finally, Capital Advisors Inc. OK bought a new stake in Prudential Financial during the third quarter worth approximately $30,226,000. Institutional investors and hedge funds own 56.83% of the company's stock.

Insiders Place Their Bets

In other news, major shareholder Insurance Co Of Ame Prudential acquired 261,059 shares of Prudential Financial stock in a transaction dated Tuesday, October 8th. The stock was acquired at an average cost of $27.58 per share, for a total transaction of $7,200,007.22. Following the completion of the purchase, the insider now owns 4,208,549 shares of the company's stock, valued at $116,071,781.42. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential acquired 261,059 shares of the company's stock in a transaction dated Tuesday, October 8th. The stock was bought at an average price of $27.58 per share, for a total transaction of $7,200,007.22. Following the purchase, the insider now owns 4,208,549 shares in the company, valued at $116,071,781.42. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Ann M. Kappler sold 2,839 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $113.43, for a total transaction of $322,027.77. Following the completion of the transaction, the executive vice president now owns 14,535 shares of the company's stock, valued at approximately $1,648,705.05. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.31% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on PRU. UBS Group lifted their price target on Prudential Financial from $112.00 to $119.00 and gave the company a "neutral" rating in a research report on Tuesday, August 13th. Piper Sandler boosted their target price on shares of Prudential Financial from $121.00 to $127.00 and gave the stock a "neutral" rating in a report on Wednesday, October 2nd. TD Cowen assumed coverage on shares of Prudential Financial in a report on Wednesday, October 9th. They set a "hold" rating and a $130.00 target price for the company. Morgan Stanley cut their price objective on Prudential Financial from $123.00 to $122.00 and set an "equal weight" rating for the company in a research report on Monday, August 19th. Finally, Barclays boosted their target price on Prudential Financial from $118.00 to $119.00 and gave the stock an "equal weight" rating in a research report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $123.85.

Prudential Financial Stock Up 3.1 %

Shares of Prudential Financial stock traded up $3.81 on Monday, hitting $125.70. 471,504 shares of the company traded hands, compared to its average volume of 1,494,053. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.60. Prudential Financial, Inc. has a 12-month low of $91.07 and a 12-month high of $129.13. The company has a 50-day moving average price of $121.48 and a 200 day moving average price of $118.82. The company has a market cap of $44.75 billion, a PE ratio of 11.14, a PEG ratio of 0.87 and a beta of 1.29.

Prudential Financial (NYSE:PRU - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 EPS for the quarter, beating the consensus estimate of $3.47 by $0.01. The business had revenue of $19.48 billion during the quarter, compared to analysts' expectations of $14.57 billion. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. During the same quarter in the previous year, the business posted $3.44 EPS. Sell-side analysts predict that Prudential Financial, Inc. will post 13.33 earnings per share for the current year.

Prudential Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 19th will be given a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 4.14%. The ex-dividend date of this dividend is Tuesday, November 19th. Prudential Financial's dividend payout ratio is 46.22%.

Prudential Financial 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.