Lombard Odier Asset Management Switzerland SA bought a new position in shares of Prudential Financial, Inc. (NYSE:PRU – Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 39,889 shares of the financial services provider’s stock, valued at approximately $4,503,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Sunflower Bank N.A. grew its stake in Prudential Financial by 3.2% during the 4th quarter. Sunflower Bank N.A. now owns 2,911 shares of the financial services provider’s stock worth $329,000 after purchasing an additional 91 shares in the last quarter. Wetzel Investment Advisors Inc. grew its stake in Prudential Financial by 0.9% during the 4th quarter. Wetzel Investment Advisors Inc. now owns 10,022 shares of the financial services provider’s stock worth $1,131,000 after purchasing an additional 94 shares in the last quarter. CIBC Private Wealth Group LLC grew its stake in Prudential Financial by 0.3% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 28,795 shares of the financial services provider’s stock worth $2,987,000 after purchasing an additional 97 shares in the last quarter. Transcend Capital Advisors LLC grew its stake in Prudential Financial by 2.4% during the 4th quarter. Transcend Capital Advisors LLC now owns 4,175 shares of the financial services provider’s stock worth $471,000 after purchasing an additional 98 shares in the last quarter. Finally, Mindset Wealth Management LLC boosted its position in shares of Prudential Financial by 2.1% during the 3rd quarter. Mindset Wealth Management LLC now owns 4,781 shares of the financial services provider’s stock worth $496,000 after acquiring an additional 100 shares in the last quarter. 56.83% of the stock is owned by institutional investors and hedge funds.
Prudential Financial Trading Up 0.5%
NYSE:PRU opened at $109.19 on Wednesday. The stock’s 50 day moving average price is $100.98 and its 200 day moving average price is $104.34. The company has a market capitalization of $37.89 billion, a PE ratio of 11.23, a P/E/G ratio of 1.97 and a beta of 0.86. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.58. Prudential Financial, Inc. has a 52-week low of $91.89 and a 52-week high of $119.76.
Prudential Financial Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Tuesday, May 26th were given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date of this dividend was Tuesday, May 26th. Prudential Financial’s dividend payout ratio (DPR) is presently 57.61%.
Analyst Ratings Changes
Several research analysts have recently issued reports on PRU shares. Piper Sandler upped their price objective on Prudential Financial from $99.00 to $105.00 and gave the stock a “neutral” rating in a research report on Monday, May 11th. Keefe, Bruyette & Woods upped their price objective on Prudential Financial from $100.00 to $106.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 13th. UBS Group lowered their price objective on Prudential Financial from $105.00 to $98.00 and set a “neutral” rating for the company in a research report on Thursday, April 9th. Argus cut Prudential Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, June 9th. 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 report on Monday, May 4th. Eleven equities research analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat.com, Prudential Financial currently has a consensus rating of “Reduce” and a consensus target price of $101.50.
Get Our Latest Stock Analysis on Prudential Financial
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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