Infrastructure Capital Advisors LLC lifted its position in Prudential Financial, Inc. (NYSE:PRU – Free Report) by 133.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,238 shares of the financial services provider’s stock after acquiring an additional 11,566 shares during the period. Prudential Financial makes up approximately 0.2% of Infrastructure Capital Advisors LLC’s holdings, making the stock its 27th biggest holding. Infrastructure Capital Advisors LLC’s holdings in Prudential Financial were worth $1,674,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the company. Prospera Financial Services Inc raised its holdings in Prudential Financial by 21.0% during the 1st quarter. Prospera Financial Services Inc now owns 9,687 shares of the financial services provider’s stock worth $802,000 after buying an additional 1,683 shares during the period. Applied Finance Capital Management LLC raised its holdings in Prudential Financial by 12.2% during the 1st quarter. Applied Finance Capital Management LLC now owns 2,466 shares of the financial services provider’s stock worth $204,000 after buying an additional 268 shares during the period. Stifel Financial Corp raised its holdings in Prudential Financial by 1.0% during the 1st quarter. Stifel Financial Corp now owns 859,882 shares of the financial services provider’s stock worth $71,147,000 after buying an additional 8,137 shares during the period. Candriam S.C.A. raised its holdings in Prudential Financial by 57.9% during the 1st quarter. Candriam S.C.A. now owns 96,369 shares of the financial services provider’s stock worth $7,339,000 after buying an additional 35,325 shares during the period. Finally, Great West Life Assurance Co. Can raised its holdings in Prudential Financial by 1.5% during the 1st quarter. Great West Life Assurance Co. Can now owns 424,747 shares of the financial services provider’s stock worth $35,190,000 after buying an additional 6,395 shares during the period. 54.92% of the stock is currently owned by institutional investors and hedge funds.
Prudential Financial Price Performance
NYSE:PRU opened at $95.10 on Friday. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.64. The firm has a fifty day simple moving average of $93.83 and a 200 day simple moving average of $88.16. Prudential Financial, Inc. has a 1-year low of $75.37 and a 1-year high of $110.96. The stock has a market capitalization of $34.52 billion, a PE ratio of 31.70, a P/E/G ratio of 0.75 and a beta of 1.41.
Prudential Financial Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 14th. Shareholders of record on Tuesday, August 22nd will be given a dividend of $1.25 per share. The ex-dividend date of this dividend is Monday, August 21st. This represents a $5.00 dividend on an annualized basis and a yield of 5.26%. Prudential Financial’s dividend payout ratio (DPR) is 166.67%.
Analyst Upgrades and Downgrades
Several equities analysts have recently weighed in on PRU shares. Wells Fargo & Company raised their price target on shares of Prudential Financial from $89.00 to $92.00 and gave the stock an “underweight” rating in a research note on Tuesday, August 15th. VNET Group reaffirmed a “maintains” rating on shares of Prudential Financial in a research note on Monday, May 15th. TheStreet raised shares of Prudential Financial from a “c” rating to a “b” rating in a research note on Tuesday, August 1st. StockNews.com started coverage on shares of Prudential Financial in a research note on Thursday, August 17th. They set a “hold” rating for the company. Finally, Piper Sandler raised their price target on shares of Prudential Financial from $95.00 to $100.00 and gave the stock a “neutral” rating in a research note on Thursday, August 3rd. Two analysts have rated the stock with a sell rating, five have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $103.70.
Check Out Our Latest Research Report on PRU
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 Annuities, Individual Life, Assurance IQ, and International Businesses segments.
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