Hancock Whitney Corp Has $1.65 Million Holdings in Prudential Financial, Inc. (NYSE:PRU)

Hancock Whitney Corp decreased its stake in Prudential Financial, Inc. (NYSE:PRU) by 2.4% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 13,647 shares of the financial services provider’s stock after selling 332 shares during the period. Hancock Whitney Corp’s holdings in Prudential Financial were worth $1,653,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. First Horizon Advisors Inc. boosted its stake in shares of Prudential Financial by 4.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 162,685 shares of the financial services provider’s stock valued at $19,701,000 after purchasing an additional 6,641 shares in the last quarter. ORG Partners LLC bought a new stake in Prudential Financial during the second quarter worth about $156,000. PGGM Investments increased its holdings in shares of Prudential Financial by 98.0% during the second quarter. PGGM Investments now owns 64,277 shares of the financial services provider’s stock worth $7,533,000 after buying an additional 31,807 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of Prudential Financial by 49.5% in the first quarter. Janus Henderson Group PLC now owns 80,148 shares of the financial services provider’s stock valued at $9,409,000 after acquiring an additional 26,520 shares during the last quarter. Finally, Deerfield Management Company L.P. Series C acquired a new position in shares of Prudential Financial in the 2nd quarter worth approximately $530,000. 56.83% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PRU has been the subject of a number of recent analyst reports. TD Cowen started coverage on Prudential Financial in a report on Wednesday, October 9th. They set a “hold” rating and a $130.00 price target for the company. Wells Fargo & Company lifted their price target on Prudential Financial from $116.00 to $117.00 and gave the company an “equal weight” rating in a report on Tuesday, November 5th. Barclays increased their price objective on shares of Prudential Financial from $118.00 to $119.00 and gave the stock an “equal weight” rating in a report on Friday, November 1st. 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 research note on Wednesday, October 2nd. Finally, Evercore ISI upgraded shares of Prudential Financial from an “underperform” rating to an “inline” rating and upped their target price for the stock from $117.00 to $140.00 in a research report on Thursday, November 14th. Eleven investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $125.69.

Insider Buying and Selling at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential bought 261,059 shares of the company’s stock in a transaction on Tuesday, October 8th. The shares were purchased at an average cost of $27.58 per share, for a total transaction of $7,200,007.22. Following the acquisition, the insider now owns 4,208,549 shares of the company’s stock, valued at approximately $116,071,781.42. This represents a 6.61 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Caroline Feeney sold 1,110 shares of Prudential Financial stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total transaction of $133,166.70. Following the completion of the transaction, the executive vice president now directly owns 10,175 shares in the company, valued at approximately $1,220,694.75. The trade was a 9.84 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

Prudential Financial Stock Performance

Shares of Prudential Financial stock opened at $128.72 on Tuesday. The firm has a fifty day moving average of $123.52 and a two-hundred day moving average of $119.82. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.14 and a current ratio of 0.14. The stock has a market capitalization of $45.82 billion, a price-to-earnings ratio of 11.44, a PEG ratio of 0.91 and a beta of 1.29. Prudential Financial, Inc. has a 52 week low of $94.92 and a 52 week high of $129.69.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $3.48 EPS for the quarter, beating analysts’ consensus estimates of $3.47 by $0.01. The business had revenue of $19.48 billion during the quarter, compared to the consensus estimate 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 prior year, the company posted $3.44 earnings per share. As a group, equities research analysts predict that Prudential Financial, Inc. will post 13.33 EPS for the current year.

Prudential Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 19th will be paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 4.04%. The ex-dividend date of this dividend is Tuesday, November 19th. Prudential Financial’s 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.