Northwest Bancshares Inc. Has $298,000 Position in Prudential Financial, Inc. (NYSE:PRU)

Northwest Bancshares Inc. decreased its position in Prudential Financial, Inc. (NYSE:PRU) by 4.9% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 2,459 shares of the financial services provider’s stock after selling 128 shares during the period. Northwest Bancshares Inc.’s holdings in Prudential Financial were worth $298,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of PRU. Creekmur Asset Management LLC raised its holdings in Prudential Financial by 78.8% during the first quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 108 shares in the last quarter. Lynx Investment Advisory acquired a new position in shares of Prudential Financial during the 2nd quarter worth approximately $29,000. Ashton Thomas Securities LLC bought a new stake in shares of Prudential Financial during the 3rd quarter worth approximately $31,000. Strategic Financial Concepts LLC boosted its holdings in shares of Prudential Financial by 1,312.4% in the 2nd quarter. Strategic Financial Concepts LLC now owns 26,934 shares of the financial services provider’s stock valued at $32,000 after buying an additional 25,027 shares during the last quarter. Finally, Crewe Advisors LLC acquired a new position in Prudential Financial during the first quarter worth $33,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Wells Fargo & Company increased their price target on shares of Prudential Financial from $116.00 to $117.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 5th. TD Cowen assumed 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. Argus upgraded Prudential Financial to a “strong-buy” rating in a research note on Thursday, August 8th. Evercore ISI upgraded Prudential Financial from an “underperform” rating to an “inline” rating and lifted their target price for the stock from $117.00 to $140.00 in a research note on Thursday, November 14th. Finally, Piper Sandler increased their price target on Prudential Financial from $121.00 to $127.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Eleven analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $125.69.

Insider Transactions at Prudential Financial

In other Prudential Financial news, EVP Caroline Feeney sold 1,110 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total value of $133,166.70. Following the sale, the executive vice president now 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Insurance Co Of Ame Prudential acquired 261,059 shares of the stock in a transaction dated Tuesday, October 8th. The shares were bought at an average price of $27.58 per share, with a total value of $7,200,007.22. Following the completion of the transaction, the insider now directly owns 4,208,549 shares of the company’s stock, valued at $116,071,781.42. The trade was a 6.61 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.34% of the stock is currently owned by insiders.

Prudential Financial Trading Down 0.4 %

Shares of Prudential Financial stock opened at $124.11 on Thursday. Prudential Financial, Inc. has a 52-week low of $93.60 and a 52-week high of $129.13. The stock has a market cap of $44.18 billion, a PE ratio of 11.03, a PEG ratio of 0.91 and a beta of 1.29. The firm has a 50-day moving average of $122.86 and a 200-day moving average of $119.56. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.14 and a current ratio of 0.14.

Prudential Financial (NYSE:PRU) last announced its earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.47 by $0.01. The firm had revenue of $19.48 billion for the quarter, compared to analyst estimates of $14.57 billion. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. During the same quarter in the prior year, the business posted $3.44 EPS. As a group, sell-side analysts forecast that Prudential Financial, Inc. will post 13.33 EPS for the current year.

Prudential Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th will be given a dividend of $1.30 per share. The ex-dividend date is Tuesday, November 19th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.19%. Prudential Financial’s payout ratio is 46.22%.

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.