Trust Co. of Toledo NA OH bought a new stake in shares of Prudential Financial, Inc. (NYSE:PRU – Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 1,232 shares of the financial services provider’s stock, valued at approximately $132,000.
A number of other hedge funds and other institutional investors have also modified their holdings of PRU. Meeder Asset Management Inc. raised its stake in shares of Prudential Financial by 90.2% during the first quarter. Meeder Asset Management Inc. now owns 234 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 111 shares in the last quarter. Cheviot Value Management LLC bought a new stake in shares of Prudential Financial during the 1st quarter worth about $26,000. North Capital Inc. bought a new stake in shares of Prudential Financial during the 1st quarter worth about $28,000. AlphaQuest LLC raised its position in shares of Prudential Financial by 12,250.0% during the 1st quarter. AlphaQuest LLC now owns 247 shares of the financial services provider’s stock worth $28,000 after buying an additional 245 shares in the last quarter. Finally, Opal Wealth Advisors LLC bought a new stake in Prudential Financial during the first quarter worth approximately $30,000. 56.83% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts recently commented on PRU shares. Weiss Ratings reissued a “hold (c)” rating on shares of Prudential Financial in a report on Wednesday, October 8th. Piper Sandler dropped their price objective on Prudential Financial from $109.00 to $108.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 16th. Barclays dropped their price target on shares of Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 8th. Wells Fargo & Company dropped their price target on shares of Prudential Financial from $116.00 to $113.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 16th. Finally, Wolfe Research started coverage on shares of Prudential Financial in a report on Tuesday, September 16th. They issued a “peer perform” rating on the stock. One analyst has rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $122.27.
Prudential Financial Trading Down 3.4%
Shares of NYSE PRU opened at $99.08 on Monday. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.60. Prudential Financial, Inc. has a 12 month low of $90.38 and a 12 month high of $130.55. The company has a market cap of $34.88 billion, a price-to-earnings ratio of 21.97, a P/E/G ratio of 0.88 and a beta of 1.04. The business has a fifty day simple moving average of $105.15 and a 200-day simple moving average of $104.40.
Prudential Financial (NYSE:PRU – Get Free Report) last posted its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $3.58 EPS for the quarter. The company had revenue of $8.35 billion during the quarter. Prudential Financial had a net margin of 2.75% and a return on equity of 15.80%. Sell-side analysts predict that Prudential Financial, Inc. will post 14.36 EPS for the current year.
Prudential Financial Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 11th. Stockholders of record on Tuesday, August 19th were issued a $1.35 dividend. The ex-dividend date was Tuesday, August 19th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 5.5%. Prudential Financial’s dividend payout ratio is presently 119.73%.
Insider Activity
In other news, EVP Ann M. Kappler sold 4,000 shares of the stock in a transaction on Friday, August 29th. The stock was sold at an average price of $109.65, for a total value of $438,600.00. Following the completion of the sale, the executive vice president owned 21,506 shares in the company, valued at $2,358,132.90. This represents a 15.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.25% of the stock is owned by insiders.
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 Life, and International Businesses segments.
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