Bank of New Hampshire Decreases Stock Position in Prudential Financial, Inc. (NYSE:PRU)

Bank of New Hampshire lowered its stake in Prudential Financial, Inc. (NYSE:PRU) by 5.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,215 shares of the financial services provider’s stock after selling 125 shares during the period. Bank of New Hampshire’s holdings in Prudential Financial were worth $263,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. International Assets Investment Management LLC grew its holdings 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 worth $157,219,000 after acquiring an additional 1,267,571 shares in the last quarter. Nordea Investment Management AB grew its stake in shares of Prudential Financial by 176.8% during the fourth quarter. Nordea Investment Management AB now owns 1,041,420 shares of the financial services provider’s stock worth $123,804,000 after purchasing an additional 665,180 shares in the last quarter. AQR Capital Management LLC increased 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 valued at $84,874,000 after buying an additional 357,300 shares during the last quarter. FMR LLC raised its stake in Prudential Financial by 31.3% in the third quarter. FMR LLC now owns 1,444,288 shares of the financial services provider’s stock valued at $174,903,000 after buying an additional 344,254 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Prudential Financial by 4.1% during the 3rd quarter. Geode Capital Management LLC now owns 8,662,679 shares of the financial services provider’s stock worth $1,047,872,000 after buying an additional 341,787 shares during the last quarter. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Piper Sandler raised their target price on Prudential Financial from $121.00 to $127.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Evercore ISI upgraded shares of Prudential Financial from an “underperform” rating to an “inline” rating and boosted their price objective for the stock from $117.00 to $140.00 in a research report on Thursday, November 14th. TD Cowen increased their target price on shares of Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a research report on Wednesday, November 27th. Jefferies Financial Group boosted their price target on shares of Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Finally, Wells Fargo & Company lifted their target price on Prudential Financial from $116.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 5th. Eleven investment analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $127.17.

Insider Buying and Selling

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential purchased 537,249 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were purchased at an average cost of $27.92 per share, for a total transaction of $14,999,992.08. Following the completion of the purchase, the insider now directly owns 4,780,293 shares in the company, valued at $133,465,780.56. This represents a 12.66 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.31% of the stock is currently owned by corporate insiders.

Prudential Financial Stock Performance

Shares of PRU stock opened at $119.07 on Wednesday. The stock’s 50-day moving average price is $122.90 and its 200 day moving average price is $120.70. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $42.39 billion, a PE ratio of 10.58, a price-to-earnings-growth ratio of 0.87 and a beta of 1.31. Prudential Financial, Inc. has a 52-week low of $100.60 and a 52-week high of $130.55.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 EPS for the quarter, topping the consensus estimate of $3.47 by $0.01. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. The business had revenue of $19.48 billion during the quarter, compared to analysts’ expectations of $14.57 billion. During the same quarter in the prior year, the business earned $3.44 earnings per share. As a group, equities research analysts forecast that Prudential Financial, Inc. will post 13.35 EPS for the current year.

Prudential Financial Announces Dividend

The company also recently declared 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 4.37%. Prudential Financial’s dividend payout ratio (DPR) is 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.