Syon Capital LLC acquired a new stake in shares of Prudential Financial, Inc. (NYSE:PRU – Free Report) in the 4th quarter, HoldingsChannel reports. The firm acquired 3,431 shares of the financial services provider’s stock, valued at approximately $356,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Integrated Advisors Network LLC raised its stake in shares of Prudential Financial by 600.2% during the 4th quarter. Integrated Advisors Network LLC now owns 40,189 shares of the financial services provider’s stock worth $4,168,000 after buying an additional 34,449 shares in the last quarter. V Square Quantitative Management LLC raised its stake in shares of Prudential Financial by 34.7% during the 4th quarter. V Square Quantitative Management LLC now owns 6,255 shares of the financial services provider’s stock worth $649,000 after buying an additional 1,612 shares in the last quarter. Gillson Capital LP purchased a new position in shares of Prudential Financial during the 4th quarter worth approximately $16,536,000. Bragg Financial Advisors Inc increased its stake in Prudential Financial by 2.5% in the 4th quarter. Bragg Financial Advisors Inc now owns 89,257 shares of the financial services provider’s stock valued at $9,257,000 after purchasing an additional 2,198 shares in the last quarter. Finally, Ethic Inc. increased its stake in Prudential Financial by 8.5% in the 4th quarter. Ethic Inc. now owns 88,425 shares of the financial services provider’s stock valued at $9,171,000 after purchasing an additional 6,953 shares in the last quarter. 56.83% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at Prudential Financial
In related news, SVP Timothy L. Schmidt sold 5,189 shares of Prudential Financial stock in a transaction 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 owns 12,236 shares in the company, valued at $1,426,472.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Prudential Financial news, EVP Robert Falzon sold 130,092 shares of the firm’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $118.57, for a total value of $15,425,008.44. Following the transaction, the executive vice president now directly owns 202,083 shares of the company’s stock, valued at $23,960,981.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Timothy L. Schmidt sold 5,189 shares of the firm’s stock in a transaction dated 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. 0.34% of the stock is owned by insiders.
Wall Street Analyst Weigh In
Several equities analysts recently weighed in on the company. Wells Fargo & Company raised their price objective on Prudential Financial from $100.00 to $106.00 and gave the company an “underweight” rating in a research note on Thursday, April 11th. Morgan Stanley raised their price objective on Prudential Financial from $109.00 to $117.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Keefe, Bruyette & Woods raised their price objective on Prudential Financial from $112.00 to $118.00 and gave the company a “market perform” rating in a research note on Wednesday, April 10th. Piper Sandler dropped their price objective on Prudential Financial from $125.00 to $121.00 and set a “neutral” rating for the company in a research note on Monday, May 6th. Finally, Jefferies Financial Group upgraded Prudential Financial from a “hold” rating to a “buy” rating and increased their target price for the company from $121.00 to $143.00 in a report on Wednesday, May 22nd. Two analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Prudential Financial has an average rating of “Hold” and an average price target of $115.25.
View Our Latest Stock Analysis on PRU
Prudential Financial Price Performance
PRU stock opened at $114.50 on Tuesday. Prudential Financial, Inc. has a 52-week low of $83.34 and a 52-week high of $121.39. The stock’s fifty day simple moving average is $115.07 and its 200-day simple moving average is $109.86. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $41.11 billion, a price-to-earnings ratio of 19.47, a price-to-earnings-growth ratio of 0.85 and a beta of 1.35.
Prudential Financial (NYSE:PRU – Get Free Report) last posted its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $3.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.16 by ($0.04). Prudential Financial had a return on equity of 15.50% and a net margin of 3.76%. The business had revenue of $15.01 billion for the quarter, compared to analyst estimates of $14.50 billion. During the same quarter last year, the business earned $2.66 EPS. Prudential Financial’s revenue for the quarter was up 69.9% compared to the same quarter last year. Equities research analysts expect that Prudential Financial, Inc. will post 13.41 EPS for the current year.
Prudential Financial Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Tuesday, May 21st were issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 4.54%. The ex-dividend date of this dividend was Monday, May 20th. Prudential Financial’s payout ratio is currently 88.44%.
Prudential Financial Company Profile
(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.
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