North Dakota State Investment Board acquired a new position in Prudential Financial, Inc. (NYSE:PRU – Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 12,164 shares of the financial services provider’s stock, valued at approximately $1,373,000.
A number of other hedge funds also recently added to or reduced their stakes in the business. Brighton Jones LLC raised its position in shares of Prudential Financial by 3.7% in the 4th quarter. Brighton Jones LLC now owns 3,681 shares of the financial services provider’s stock valued at $436,000 after purchasing an additional 133 shares during the last quarter. Empowered Funds LLC raised its position in Prudential Financial by 30.5% during the 1st quarter. Empowered Funds LLC now owns 17,690 shares of the financial services provider’s stock worth $1,976,000 after buying an additional 4,134 shares during the last quarter. Brown Advisory Inc. raised its position in Prudential Financial by 3.5% during the 2nd quarter. Brown Advisory Inc. now owns 4,164 shares of the financial services provider’s stock worth $447,000 after buying an additional 140 shares during the last quarter. AXA S.A. raised its position in Prudential Financial by 25.8% during the 2nd quarter. AXA S.A. now owns 56,700 shares of the financial services provider’s stock worth $6,092,000 after buying an additional 11,630 shares during the last quarter. Finally, NewEdge Advisors LLC raised its position in Prudential Financial by 15.1% during the 2nd quarter. NewEdge Advisors LLC now owns 37,277 shares of the financial services provider’s stock worth $4,005,000 after buying an additional 4,895 shares during the last quarter. 56.83% of the stock is owned by hedge funds and other institutional investors.
Prudential Financial Price Performance
Prudential Financial stock opened at $101.20 on Wednesday. The company’s fifty day moving average price is $97.29 and its 200 day moving average price is $104.58. Prudential Financial, Inc. has a 1 year low of $91.89 and a 1 year high of $119.76. The stock has a market capitalization of $35.12 billion, a P/E ratio of 10.41, a P/E/G ratio of 1.89 and a beta of 0.86. 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 Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 11th. Investors of record on Tuesday, May 26th will be paid a $1.40 dividend. The ex-dividend date of this dividend is Tuesday, May 26th. This represents a $5.60 dividend on an annualized basis and a yield of 5.5%. Prudential Financial’s dividend payout ratio (DPR) is currently 57.61%.
Analyst Ratings Changes
PRU has been the subject of a number of recent research reports. BMO Capital Markets reduced their price target on shares of Prudential Financial from $91.00 to $87.00 and set an “underperform” rating for the company in a research report on Thursday, April 23rd. Evercore reaffirmed a “negative” rating on shares of Prudential Financial in a research note on Friday, March 6th. Jefferies Financial Group cut shares of Prudential Financial from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $124.00 to $98.00 in a research note on Wednesday, April 22nd. Weiss Ratings cut shares of Prudential Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, March 13th. Finally, Morgan Stanley reaffirmed an “underweight” rating and set a $92.00 price objective (down from $106.00) on shares of Prudential Financial in a research note on Monday, May 4th. Nine equities research analysts have rated the stock with a Hold rating and six have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $101.50.
View Our Latest Stock Report on Prudential Financial
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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