Resona Asset Management Co. Ltd. lowered its stake in shares of Prudential Financial, Inc. (NYSE:PRU – Free Report) by 6.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 108,835 shares of the financial services provider’s stock after selling 7,094 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Prudential Financial were worth $12,294,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of the stock. Legal & General Group Plc increased its holdings in shares of Prudential Financial by 2.4% during the third quarter. Legal & General Group Plc now owns 2,701,116 shares of the financial services provider’s stock valued at $280,214,000 after acquiring an additional 62,366 shares in the last quarter. Nordea Investment Management AB increased its holdings in shares of Prudential Financial by 16.6% during the fourth quarter. Nordea Investment Management AB now owns 2,044,374 shares of the financial services provider’s stock valued at $231,321,000 after acquiring an additional 291,422 shares in the last quarter. First Trust Advisors LP increased its holdings in shares of Prudential Financial by 1.5% during the third quarter. First Trust Advisors LP now owns 1,172,443 shares of the financial services provider’s stock valued at $121,629,000 after acquiring an additional 17,030 shares in the last quarter. Federated Hermes Inc. increased its holdings in shares of Prudential Financial by 0.7% during the third quarter. Federated Hermes Inc. now owns 1,095,031 shares of the financial services provider’s stock valued at $113,599,000 after acquiring an additional 7,526 shares in the last quarter. Finally, AustralianSuper Pty Ltd increased its holdings in shares of Prudential Financial by 11.1% during the fourth quarter. AustralianSuper Pty Ltd now owns 897,597 shares of the financial services provider’s stock valued at $101,321,000 after acquiring an additional 89,915 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 $103.11 on Thursday. Prudential Financial, Inc. has a twelve month low of $91.89 and a twelve month high of $119.76. The company’s 50 day moving average is $97.44 and its 200 day moving average is $104.58. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.58. The company has a market cap of $35.78 billion, a PE ratio of 10.61, a price-to-earnings-growth ratio of 1.85 and a beta of 0.86.
Prudential Financial Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 11th. Shareholders of record on Tuesday, May 26th will be given a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 5.4%. The ex-dividend date is Tuesday, May 26th. Prudential Financial’s dividend payout ratio is currently 57.61%.
Analysts Set New Price Targets
PRU has been the topic of several recent analyst reports. Bank of America cut their price objective on shares of Prudential Financial from $112.00 to $104.00 and set a “neutral” rating on the stock in a report on Tuesday, April 14th. Piper Sandler increased their price target on shares of Prudential Financial from $99.00 to $105.00 and gave the stock a “neutral” rating in a report on Monday, May 11th. Evercore reiterated a “negative” rating on shares of Prudential Financial in a report on Friday, March 6th. Wells Fargo & Company increased their price target on shares of Prudential Financial from $93.00 to $100.00 and gave the stock an “underweight” rating in a report on Tuesday, May 12th. Finally, Jefferies Financial Group downgraded shares of Prudential Financial from a “buy” rating to a “hold” rating and cut their price target for the stock from $124.00 to $98.00 in a report on Wednesday, April 22nd. Nine investment analysts have rated the stock with a Hold rating and six have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus price target of $101.50.
Check Out Our Latest Research Report on Prudential Financial
Prudential Financial Company Profile
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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