Perpetual Ltd acquired a new stake in shares of Prudential Financial, Inc. (NYSE:PRU – Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 2,600 shares of the financial services provider’s stock, valued at approximately $215,000.
Several other large investors have also bought and sold shares of PRU. Moneta Group Investment Advisors LLC boosted its holdings in shares of Prudential Financial by 104,987.2% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 2,450,633 shares of the financial services provider’s stock worth $243,740,000 after buying an additional 2,448,301 shares during the last quarter. Norges Bank purchased a new stake in Prudential Financial during the fourth quarter valued at about $172,363,000. Cowa LLC lifted its holdings in Prudential Financial by 9,930.2% during the first quarter. Cowa LLC now owns 771,824 shares of the financial services provider’s stock valued at $912,000 after purchasing an additional 764,129 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Prudential Financial by 9.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,005,166 shares of the financial services provider’s stock valued at $796,194,000 after purchasing an additional 700,449 shares during the last quarter. Finally, Mariner LLC lifted its holdings in Prudential Financial by 2,197.4% during the first quarter. Mariner LLC now owns 690,184 shares of the financial services provider’s stock valued at $81,560,000 after purchasing an additional 660,142 shares during the last quarter. 55.36% of the stock is currently owned by institutional investors.
Prudential Financial Stock Performance
NYSE:PRU opened at $95.07 on Thursday. The firm has a market cap of $34.51 billion, a PE ratio of 31.69, a price-to-earnings-growth ratio of 0.79 and a beta of 1.40. Prudential Financial, Inc. has a fifty-two week low of $75.37 and a fifty-two week high of $110.96. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.06 and a current ratio of 0.06. The business has a 50 day moving average price of $90.06 and a 200-day moving average price of $89.43.
Prudential Financial Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 14th. Investors of record on Tuesday, August 22nd will be paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 5.26%. The ex-dividend date of this dividend is Monday, August 21st. Prudential Financial’s payout ratio is 166.67%.
Analyst Upgrades and Downgrades
Several equities research analysts have commented on PRU shares. VNET Group reaffirmed a “maintains” rating on shares of Prudential Financial in a report on Monday, May 15th. TheStreet raised shares of Prudential Financial from a “c” rating to a “b” rating in a report on Tuesday, August 1st. Piper Sandler upped their price objective on shares of Prudential Financial from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Thursday, August 3rd. Royal Bank of Canada upped their price objective on shares of Prudential Financial from $94.00 to $100.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 3rd. Finally, Barclays upped their price objective on shares of Prudential Financial from $91.00 to $101.00 and gave the stock an “equal weight” rating in a research report on Friday, August 4th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $101.27.
Read Our Latest Stock Report on PRU
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 Annuities, Individual Life, Assurance IQ, and International Businesses segments.
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