Northeast Investment Management bought a new stake in Prudential Financial, Inc. (NYSE:PRU – Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 23,222 shares of the financial services provider’s stock, valued at approximately $2,621,000.
Other institutional investors have also modified their holdings of the company. Salomon & Ludwin LLC grew its stake in shares of Prudential Financial by 98.3% in the fourth quarter. Salomon & Ludwin LLC now owns 230 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 114 shares in the last quarter. Lodestone Wealth Management LLC acquired a new position in shares of Prudential Financial in the fourth quarter worth $28,000. Coston McIsaac & Partners grew its stake in shares of Prudential Financial by 93.4% in the fourth quarter. Coston McIsaac & Partners now owns 265 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 128 shares in the last quarter. Wealth Watch Advisors INC acquired a new position in shares of Prudential Financial in the third quarter worth $30,000. Finally, Dunhill Financial LLC grew its stake in shares of Prudential Financial by 982.8% in the fourth quarter. Dunhill Financial LLC now owns 314 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 285 shares in the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.
Prudential Financial Price Performance
Shares of NYSE:PRU opened at $102.59 on Wednesday. The stock has a market capitalization of $35.60 billion, a price-to-earnings ratio of 10.55, a PEG ratio of 1.83 and a beta of 0.86. Prudential Financial, Inc. has a one year low of $91.89 and a one year high of $119.76. The company has a 50-day simple moving average of $96.93 and a 200-day simple moving average of $104.56. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.16 and a current ratio of 0.16.
Prudential Financial Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 11th. Shareholders of record on Tuesday, May 26th will be given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 5.5%. The ex-dividend date is Tuesday, May 26th. Prudential Financial’s dividend payout ratio is presently 57.61%.
Key Headlines Impacting Prudential Financial
Here are the key news stories impacting Prudential Financial this week:
- Positive Sentiment: Prudential Financial declared a quarterly dividend of $1.40 per share, signaling ongoing cash generation and supporting the stock’s income appeal. Prudential Financial Declares Quarterly Dividend on Common Stock
- Positive Sentiment: Piper Sandler raised its price target on PRU to $105 from $99, suggesting modest upside and reinforcing a neutral-to-positive view of the shares. Prudential Financial (NYSE:PRU) Price Target Raised to $105.00 at Piper Sandler
- Neutral Sentiment: Wells Fargo also increased its target to $100 from $93, but kept an underweight rating, limiting the bullish takeaway. Wells Fargo price target update
- Neutral Sentiment: Prudential’s annual Benefits & Beyond study highlighted rising medical costs and financial stress among employees, which is more of an industry/consumer trend update than a direct earnings driver. Employees Face Difficult Trade-offs Amid Rising Costs
Insiders Place Their Bets
In related news, Director Thomas D. Stoddard bought 250 shares of the stock in a transaction on Tuesday, February 17th. The shares were bought at an average cost of $102.97 per share, for a total transaction of $25,742.50. Following the completion of the transaction, the director owned 250 shares of the company’s stock, valued at $25,742.50. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.05% of the company’s stock.
Analysts Set New Price Targets
A number of equities analysts recently commented on PRU shares. Mizuho boosted their target price on shares of Prudential Financial from $96.00 to $101.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Bank of America lowered their target price on shares of Prudential Financial from $112.00 to $104.00 and set a “neutral” rating for the company in a research note on Tuesday, April 14th. Evercore reiterated a “negative” rating on shares of Prudential Financial in a research note on Friday, March 6th. Keefe, Bruyette & Woods lowered their target price on shares of Prudential Financial from $104.00 to $100.00 and set a “market perform” rating for the company in a research note on Thursday, April 23rd. Finally, Piper Sandler boosted their target price on shares of Prudential Financial from $99.00 to $105.00 and gave the stock a “neutral” rating in a research note on Monday. Nine equities research analysts have rated the stock with a Hold rating and six have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $101.00.
About Prudential Financial
Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential’s long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.
Prudential’s core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.
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