Associated Banc Corp Has $5.07 Million Holdings in Prudential Financial, Inc. $PRU

Associated Banc Corp decreased its holdings in Prudential Financial, Inc. (NYSE:PRU) by 2.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 47,191 shares of the financial services provider’s stock after selling 1,254 shares during the quarter. Associated Banc Corp’s holdings in Prudential Financial were worth $5,070,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in PRU. Proffitt & Goodson Inc. raised its position in shares of Prudential Financial by 12.7% in the second quarter. Proffitt & Goodson Inc. now owns 871 shares of the financial services provider’s stock valued at $94,000 after buying an additional 98 shares in the last quarter. SPC Financial Inc. raised its holdings in Prudential Financial by 2.6% in the 1st quarter. SPC Financial Inc. now owns 3,973 shares of the financial services provider’s stock valued at $444,000 after acquiring an additional 100 shares in the last quarter. Summit Global Investments lifted its position in shares of Prudential Financial by 1.3% during the 2nd quarter. Summit Global Investments now owns 7,609 shares of the financial services provider’s stock valued at $817,000 after acquiring an additional 100 shares during the period. Thrive Wealth Management LLC grew its holdings in shares of Prudential Financial by 2.6% during the 2nd quarter. Thrive Wealth Management LLC now owns 4,007 shares of the financial services provider’s stock worth $430,000 after purchasing an additional 101 shares in the last quarter. Finally, Eagle Capital Management LLC increased its position in shares of Prudential Financial by 0.3% in the second quarter. Eagle Capital Management LLC now owns 35,806 shares of the financial services provider’s stock worth $3,847,000 after purchasing an additional 108 shares during the period. Institutional investors and hedge funds own 56.83% of the company’s stock.

Prudential Financial Trading Up 1.1%

NYSE PRU opened at $108.34 on Wednesday. The company has a market cap of $37.92 billion, a price-to-earnings ratio of 14.88, a price-to-earnings-growth ratio of 0.88 and a beta of 1.05. Prudential Financial, Inc. has a twelve month low of $90.38 and a twelve month high of $130.55. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.60. The business’s fifty day moving average is $103.65 and its 200 day moving average is $104.83.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $3.58 EPS for the quarter. Prudential Financial had a return on equity of 16.98% and a net margin of 4.65%.The firm had revenue of $8.35 billion for the quarter. As a group, sell-side analysts expect that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 11th. Shareholders of record on Tuesday, November 18th will be given a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 5.0%. The ex-dividend date is Tuesday, November 18th. Prudential Financial’s dividend payout ratio is 74.18%.

Analysts Set New Price Targets

PRU has been the subject of several recent analyst reports. Morgan Stanley upped their price objective on shares of Prudential Financial from $117.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 7th. Wall Street Zen upgraded shares of Prudential Financial from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Keefe, Bruyette & Woods increased their price target on shares of Prudential Financial from $117.00 to $118.00 and gave the stock a “market perform” rating in a research report on Monday, November 3rd. Wolfe Research began coverage on shares of Prudential Financial in a research note on Tuesday, September 16th. They issued a “peer perform” rating on the stock. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Prudential Financial in a research note on Wednesday, November 19th. One investment analyst has rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $120.73.

Insider Buying and Selling at Prudential Financial

In other Prudential Financial news, EVP Ann M. Kappler sold 4,000 shares of Prudential Financial stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $109.65, for a total transaction of $438,600.00. Following the transaction, the executive vice president directly owned 21,506 shares of the company’s stock, valued at approximately $2,358,132.90. The trade was a 15.68% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Charles F. Lowrey sold 48,164 shares of the stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $107.39, for a total value of $5,172,331.96. Following the completion of the sale, the chairman directly owned 165,564 shares of the company’s stock, valued at approximately $17,779,917.96. The trade was a 22.54% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.25% of the stock is currently owned by company insiders.

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.