First National Bank of Omaha acquired a new stake in shares of Prudential Financial, Inc. (NYSE:PRU – Free Report) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 80,500 shares of the financial services provider’s stock, valued at approximately $9,152,000.
A number of other institutional investors have also recently bought and sold shares of PRU. Jessup Wealth Management Inc acquired a new position in Prudential Financial during the fourth quarter valued at approximately $25,000. Salomon & Ludwin LLC grew its holdings in Prudential Financial by 98.3% during the fourth quarter. Salomon & Ludwin LLC now owns 230 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 114 shares during the period. Lodestone Wealth Management LLC bought a new position in Prudential Financial in the fourth quarter valued at approximately $28,000. Coston McIsaac & Partners lifted its stake in Prudential Financial by 93.4% in the fourth quarter. Coston McIsaac & Partners now owns 265 shares of the financial services provider’s stock valued at $29,000 after buying an additional 128 shares in the last quarter. Finally, Wealth Watch Advisors INC bought a new position in Prudential Financial in the third quarter valued at approximately $30,000. Institutional investors and hedge funds own 56.83% of the company’s stock.
Prudential Financial Stock Performance
Shares of PRU stock opened at $108.38 on Friday. The company’s fifty day simple moving average is $100.53 and its 200-day simple moving average is $104.35. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.58. The firm has a market cap of $37.61 billion, a PE ratio of 11.15, a P/E/G ratio of 1.93 and a beta of 0.86. Prudential Financial, Inc. has a 12 month low of $91.89 and a 12 month high of $119.76.
Prudential Financial Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Tuesday, May 26th were given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date of this dividend was Tuesday, May 26th. Prudential Financial’s payout ratio is currently 57.61%.
Analysts Set New Price Targets
A number of research analysts have weighed in on PRU shares. Zacks Research lowered shares of Prudential Financial from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 29th. Wells Fargo & Company lifted their price target on shares of Prudential Financial from $93.00 to $100.00 and gave the company an “underweight” rating in a research note on Tuesday, May 12th. Morgan Stanley reaffirmed an “underweight” rating and issued a $92.00 price target (down from $106.00) on shares of Prudential Financial in a research note on Monday, May 4th. Jefferies Financial Group lowered shares of Prudential Financial from a “buy” rating to a “hold” rating and cut their price target for the company from $124.00 to $98.00 in a research note on Wednesday, April 22nd. Finally, Argus lowered shares of Prudential Financial from a “buy” rating to a “hold” rating in a research note on Tuesday. Ten equities research analysts have rated the stock with a Hold rating and six have assigned a Sell rating to the company. Based on data from MarketBeat.com, Prudential Financial currently has an average rating of “Reduce” and a consensus price target of $101.50.
Read Our Latest Stock Report on PRU
Prudential Financial 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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