Independence Bank of Kentucky Has $60,000 Holdings in Prudential Financial, Inc. (NYSE:PRU)

Independence Bank of Kentucky reduced its stake in Prudential Financial, Inc. (NYSE:PRUFree Report) by 25.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 577 shares of the financial services provider’s stock after selling 200 shares during the period. Independence Bank of Kentucky’s holdings in Prudential Financial were worth $60,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PRU. Sanctuary Wealth Management L.L.C. acquired a new position in shares of Prudential Financial during the fourth quarter worth $25,000. Bruce G. Allen Investments LLC acquired a new stake in Prudential Financial in the fourth quarter valued at $26,000. Headinvest LLC acquired a new stake in Prudential Financial in the third quarter valued at $27,000. Fairfield Bush & CO. acquired a new stake in Prudential Financial in the first quarter valued at $36,000. Finally, Union Savings Bank acquired a new stake in Prudential Financial in the second quarter valued at $30,000. 56.83% of the stock is currently owned by institutional investors.

Prudential Financial Price Performance

PRU stock opened at $116.92 on Thursday. The stock has a market capitalization of $41.97 billion, a PE ratio of 17.48, a price-to-earnings-growth ratio of 0.85 and a beta of 1.37. The company’s 50-day moving average is $109.59 and its 200-day moving average is $101.73. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.13 and a quick ratio of 0.13. Prudential Financial, Inc. has a 1 year low of $77.22 and a 1 year high of $117.92.

Prudential Financial (NYSE:PRUGet Free Report) last released its quarterly earnings data on Tuesday, February 6th. The financial services provider reported $2.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.67 by ($0.09). The company had revenue of $13.02 billion for the quarter, compared to the consensus estimate of $12.99 billion. Prudential Financial had a return on equity of 14.52% and a net margin of 4.89%. Prudential Financial’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same period last year, the company earned $2.42 EPS. Equities research analysts expect that Prudential Financial, Inc. will post 13.4 EPS for the current fiscal year.

Prudential Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Tuesday, February 20th were given a $1.30 dividend. This is a boost from Prudential Financial’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend was Friday, February 16th. This represents a $5.20 annualized dividend and a yield of 4.45%. Prudential Financial’s dividend payout ratio (DPR) is presently 77.73%.

Wall Street Analyst Weigh In

PRU has been the subject of a number of recent research reports. JPMorgan Chase & Co. restated a “neutral” rating and issued a $118.00 price objective (down from $119.00) on shares of Prudential Financial in a report on Wednesday, January 3rd. UBS Group increased their price target on Prudential Financial from $108.00 to $112.00 and gave the stock a “neutral” rating in a report on Monday, February 12th. Morgan Stanley increased their price target on Prudential Financial from $105.00 to $109.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 7th. Raymond James downgraded Prudential Financial from a “strong-buy” rating to a “market perform” rating in a report on Friday, February 9th. Finally, TheStreet upgraded Prudential Financial from a “c+” rating to an “a-” rating in a report on Tuesday, February 6th. One investment analyst has rated the stock with a sell rating and ten have issued a hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $105.60.

Check Out Our Latest Report on PRU

Insider Activity at Prudential Financial

In related news, EVP Ann M. Kappler sold 7,222 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $108.39, for a total value of $782,792.58. Following the transaction, the executive vice president now owns 24,381 shares of the company’s stock, valued at approximately $2,642,656.59. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, EVP Andrew F. Sullivan sold 7,685 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $111.57, for a total value of $857,415.45. Following the transaction, the executive vice president now owns 13,691 shares of the company’s stock, valued at approximately $1,527,504.87. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Ann M. Kappler sold 7,222 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 24,381 shares in the company, valued at approximately $2,642,656.59. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,255 shares of company stock valued at $3,215,664. 0.31% of the stock is owned by corporate insiders.

About Prudential Financial

(Free Report)

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.

Read More

Institutional Ownership by Quarter for Prudential Financial (NYSE:PRU)

Receive News & Ratings for Prudential Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prudential Financial and related companies with MarketBeat.com's FREE daily email newsletter.