Jupiter Asset Management Ltd. acquired a new position in shares of Prudential Financial, Inc. (NYSE:PRU) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 17,153 shares of the financial services provider’s stock, valued at approximately $1,089,000.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. IBM Retirement Fund increased its stake in shares of Prudential Financial by 34.3% in the 3rd quarter. IBM Retirement Fund now owns 14,131 shares of the financial services provider’s stock valued at $898,000 after buying an additional 3,611 shares during the period. Avantax Advisory Services Inc. increased its position in Prudential Financial by 136.3% in the third quarter. Avantax Advisory Services Inc. now owns 15,532 shares of the financial services provider’s stock worth $984,000 after purchasing an additional 8,958 shares during the period. Stratos Wealth Partners LTD. raised its holdings in Prudential Financial by 24.8% during the 2nd quarter. Stratos Wealth Partners LTD. now owns 10,648 shares of the financial services provider’s stock worth $648,000 after purchasing an additional 2,117 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in Prudential Financial by 15.8% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 73,654 shares of the financial services provider’s stock valued at $4,679,000 after purchasing an additional 10,067 shares during the period. Finally, Pitcairn Co. bought a new position in shares of Prudential Financial in the 2nd quarter valued at about $213,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.
PRU has been the subject of a number of recent research reports. Zacks Investment Research raised shares of Prudential Financial from a “sell” rating to a “hold” rating and set a $67.00 price target for the company in a research note on Wednesday, October 28th. Morgan Stanley upped their target price on shares of Prudential Financial from $76.00 to $85.00 and gave the company an “equal weight” rating in a research report on Wednesday. Barclays started coverage on Prudential Financial in a research report on Tuesday, November 17th. They issued an “equal weight” rating and a $76.00 price target on the stock. Wells Fargo & Company upped their price objective on Prudential Financial from $65.00 to $70.00 and gave the company an “equal weight” rating in a report on Thursday, August 6th. Finally, ValuEngine lowered Prudential Financial from a “sell” rating to a “strong sell” rating in a research note on Monday, August 3rd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $73.00.
Shares of Prudential Financial stock opened at $75.65 on Friday. The company has a market capitalization of $29.96 billion, a P/E ratio of -122.02, a price-to-earnings-growth ratio of 0.77 and a beta of 1.69. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.13 and a quick ratio of 0.13. The business has a 50-day moving average of $67.59 and a two-hundred day moving average of $64.68. Prudential Financial, Inc. has a 1 year low of $38.62 and a 1 year high of $97.24.
Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Tuesday, November 3rd. The financial services provider reported $3.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.69 by $0.52. Prudential Financial had a positive return on equity of 6.13% and a negative net margin of 0.25%. During the same period last year, the firm posted $3.22 earnings per share. On average, equities analysts anticipate that Prudential Financial, Inc. will post 9.45 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 17th. Shareholders of record on Tuesday, November 24th will be paid a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a yield of 5.82%. The ex-dividend date of this dividend is Monday, November 23rd. Prudential Financial’s payout ratio is currently 37.64%.
In other news, SVP Timothy L. Schmidt sold 5,334 shares of the stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $69.54, for a total transaction of $370,926.36. Following the completion of the sale, the senior vice president now owns 27,784 shares of the company’s stock, valued at $1,932,099.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.33% of the stock is owned by corporate insiders.
About Prudential Financial
Prudential Financial, Inc, through its subsidiaries, provides insurance, investment management, and other financial products and services. It operates through eight segments: PGIM, Retirement, Group Insurance, Individual Annuities, Individual Life, Assurance IQ, International Businesses, and Closed Block.
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