Graypoint LLC bought a new position in shares of Prudential Financial, Inc. (NYSE:PRU – Get Rating) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 2,857 shares of the financial services provider’s stock, valued at approximately $245,000.
Other hedge funds have also recently bought and sold shares of the company. Cowa LLC boosted its position 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 acquiring an additional 764,129 shares during the last quarter. Mariner LLC raised its stake in shares of Prudential Financial by 2,197.4% during the 1st quarter. Mariner LLC now owns 690,184 shares of the financial services provider’s stock worth $81,560,000 after purchasing an additional 660,142 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Prudential Financial by 6.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 6,353,887 shares of the financial services provider’s stock valued at $750,839,000 after purchasing an additional 356,957 shares during the period. AustralianSuper Pty Ltd bought a new stake in shares of Prudential Financial in the second quarter valued at approximately $23,398,000. Finally, Legal & General Group Plc boosted its stake in Prudential Financial by 6.4% in the 2nd quarter. Legal & General Group Plc now owns 3,276,897 shares of the financial services provider’s stock worth $313,535,000 after purchasing an additional 198,205 shares during the period. 56.33% of the stock is currently owned by institutional investors and hedge funds.
Prudential Financial Stock Performance
NYSE PRU opened at $99.60 on Friday. The stock has a fifty day simple moving average of $103.01 and a 200-day simple moving average of $98.78. The stock has a market cap of $37.05 billion, a PE ratio of 138.33 and a beta of 1.42. Prudential Financial, Inc. has a twelve month low of $85.46 and a twelve month high of $124.22. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 1.16.
Prudential Financial (NYSE:PRU – Get Rating) last announced its quarterly earnings data on Tuesday, November 1st. The financial services provider reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.21 by ($0.08). Prudential Financial had a net margin of 0.52% and a return on equity of 10.20%. The company had revenue of $21.61 billion during the quarter, compared to analyst estimates of $12.76 billion. Equities analysts anticipate that Prudential Financial, Inc. will post 9.62 earnings per share for the current year.
Prudential Financial Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 15th. Shareholders of record on Tuesday, November 22nd were paid a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 4.82%. The ex-dividend date was Monday, November 21st. Prudential Financial’s dividend payout ratio is currently 666.67%.
Wall Street Analyst Weighs In
A number of equity analysts recently commented on the stock. The Goldman Sachs Group cut shares of Prudential Financial from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $98.00 to $96.00 in a research report on Monday. StockNews.com raised Prudential Financial from a “sell” rating to a “hold” rating in a report on Wednesday, November 2nd. Piper Sandler lowered their price objective on shares of Prudential Financial from $110.00 to $106.00 and set a “neutral” rating on the stock in a research note on Tuesday, December 20th. JPMorgan Chase & Co. decreased their price objective on Prudential Financial from $122.00 to $118.00 and set a “neutral” rating on the stock in a research note on Friday, October 7th. Finally, Credit Suisse Group lowered their price objective on Prudential Financial to $102.00 in a research report on Thursday, September 29th. Four investment analysts have rated the stock with a sell rating and ten have issued a hold rating to the stock. Based on data from MarketBeat.com, Prudential Financial currently has a consensus rating of “Hold” and a consensus target price of $105.54.
Insider Buying and Selling
In related news, EVP Ann M. Kappler sold 3,609 shares of the business’s stock in a transaction dated Tuesday, November 22nd. The shares were sold at an average price of $108.62, for a total transaction of $392,009.58. Following the sale, the executive vice president now owns 9,779 shares of the company’s stock, valued at $1,062,194.98. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Prudential Financial news, SVP Timothy L. Schmidt sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 14th. The stock was sold at an average price of $103.55, for a total value of $207,100.00. Following the completion of the sale, the senior vice president now directly owns 16,198 shares in the company, valued at $1,677,302.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ann M. Kappler sold 3,609 shares of the company’s stock in a transaction dated Tuesday, November 22nd. The shares were sold at an average price of $108.62, for a total transaction of $392,009.58. Following the completion of the sale, the executive vice president now directly owns 9,779 shares of the company’s stock, valued at $1,062,194.98. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.
Prudential Financial Company Profile
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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 eight segments: PGIM, Retirement, Group Insurance, Individual Annuities, Individual Life, Assurance IQ, International Businesses, and Closed Block.
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