Riverview Trust Co Invests $37,000 in Prudential Financial, Inc. (NYSE:PRU)

Riverview Trust Co acquired a new stake in Prudential Financial, Inc. (NYSE:PRU) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 314 shares of the financial services provider’s stock, valued at approximately $37,000.

Several other institutional investors have also modified their holdings of PRU. Natixis Advisors L.P. lifted its holdings in shares of Prudential Financial by 9.8% in the third quarter. Natixis Advisors L.P. now owns 97,608 shares of the financial services provider’s stock valued at $9,262,000 after buying an additional 8,687 shares during the period. O Shaughnessy Asset Management LLC lifted its holdings in shares of Prudential Financial by 80.4% in the third quarter. O Shaughnessy Asset Management LLC now owns 22,667 shares of the financial services provider’s stock valued at $2,151,000 after buying an additional 10,102 shares during the period. Mutual Advisors LLC lifted its holdings in shares of Prudential Financial by 1.9% in the third quarter. Mutual Advisors LLC now owns 27,640 shares of the financial services provider’s stock valued at $2,623,000 after buying an additional 510 shares during the period. Vinva Investment Management Ltd lifted its holdings in shares of Prudential Financial by 6.6% in the third quarter. Vinva Investment Management Ltd now owns 10,749 shares of the financial services provider’s stock valued at $1,020,000 after buying an additional 666 shares during the period. Finally, Valley National Advisers Inc. lifted its holdings in shares of Prudential Financial by 24.5% during the third quarter. Valley National Advisers Inc. now owns 1,076 shares of the financial services provider’s stock valued at $102,000 after purchasing an additional 212 shares during the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.

Prudential Financial Stock Down 0.5 %

PRU opened at $118.59 on Wednesday. Prudential Financial, Inc. has a fifty-two week low of $84.02 and a fifty-two week high of $121.39. The business has a 50-day moving average of $115.87 and a 200-day moving average of $110.65. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.13 and a quick ratio of 0.13. The company has a market capitalization of $42.57 billion, a PE ratio of 20.17, a price-to-earnings-growth ratio of 0.89 and a beta of 1.35.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $3.12 earnings per share for the quarter, missing analysts’ consensus estimates of $3.16 by ($0.04). Prudential Financial had a return on equity of 15.50% and a net margin of 3.76%. The firm had revenue of $15.01 billion for the quarter, compared to analysts’ expectations of $14.50 billion. During the same period last year, the business earned $2.66 earnings per share. The firm’s revenue for the quarter was up 69.9% on a year-over-year basis. Equities research analysts forecast that Prudential Financial, Inc. will post 13.41 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Tuesday, May 21st were paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.38%. The ex-dividend date was Monday, May 20th. Prudential Financial’s dividend payout ratio (DPR) is presently 88.44%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PRU. Morgan Stanley increased their price target on Prudential Financial from $109.00 to $117.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Jefferies Financial Group upgraded Prudential Financial from a “hold” rating to a “buy” rating and increased their price target for the company from $121.00 to $143.00 in a research report on Wednesday, May 22nd. Piper Sandler decreased their price target on Prudential Financial from $125.00 to $121.00 and set a “neutral” rating for the company in a research report on Monday, May 6th. Evercore ISI increased their price target on Prudential Financial from $115.00 to $116.00 and gave the company an “underperform” rating in a research report on Thursday, April 25th. Finally, Keefe, Bruyette & Woods increased their price target on Prudential Financial from $112.00 to $118.00 and gave the company a “market perform” rating in a research report on Wednesday, April 10th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, Prudential Financial presently has an average rating of “Hold” and a consensus price target of $115.25.

Insider Transactions at Prudential Financial

In related news, SVP Timothy L. Schmidt sold 5,189 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $116.58, for a total value of $604,933.62. Following the transaction, the senior vice president now directly owns 12,236 shares of the company’s stock, valued at approximately $1,426,472.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, major shareholder Insurance Co Of Ame Prudential acquired 652,884 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The shares were acquired at an average cost of $27.57 per share, with a total value of $18,000,011.88. Following the purchase, the insider now owns 3,883,390 shares of the company’s stock, valued at $107,065,062.30. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Timothy L. Schmidt sold 5,189 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $116.58, for a total value of $604,933.62. Following the completion of the transaction, the senior vice president now directly owns 12,236 shares in the company, valued at $1,426,472.88. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.

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.