Forum Financial Management LP trimmed its position in shares of Prudential Financial, Inc. (NYSE:PRU – Free Report) by 50.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 5,209 shares of the financial services provider’s stock after selling 5,338 shares during the quarter. Forum Financial Management LP’s holdings in Prudential Financial were worth $509,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Jessup Wealth Management Inc bought a new position in shares of Prudential Financial in the fourth quarter worth approximately $25,000. Garton & Associates Financial Advisors LLC bought a new stake in shares of Prudential Financial during the fourth quarter valued at approximately $26,000. Salomon & Ludwin LLC raised its holdings in Prudential Financial by 98.3% in the 4th quarter. Salomon & Ludwin LLC now owns 230 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 114 shares during the last quarter. Lodestone Wealth Management LLC bought a new position in Prudential Financial in the 4th quarter valued at approximately $28,000. Finally, Coston McIsaac & Partners boosted its stake in Prudential Financial by 93.4% during the 4th quarter. Coston McIsaac & Partners now owns 265 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 128 shares during the last quarter. 56.83% of the stock is owned by hedge funds and other institutional investors.
Prudential Financial Trading Down 1.2%
Shares of NYSE:PRU opened at $107.92 on Wednesday. The stock’s 50-day simple moving average is $102.82 and its two-hundred day simple moving average is $104.16. The stock has a market capitalization of $37.45 billion, a price-to-earnings ratio of 11.10, a PEG ratio of 1.99 and a beta of 0.86. Prudential Financial, Inc. has a 52-week low of $91.89 and a 52-week high of $119.76. 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 firm also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Tuesday, May 26th were given a $1.40 dividend. The ex-dividend date was Tuesday, May 26th. This represents a $5.60 annualized dividend and a yield of 5.2%. Prudential Financial’s dividend payout ratio (DPR) is presently 57.61%.
Wall Street Analysts Forecast Growth
Several research analysts have recently weighed in on the company. Barclays boosted their price target on Prudential Financial from $89.00 to $90.00 and gave the stock an “underweight” rating in a research note on Wednesday, May 6th. Morgan Stanley reiterated an “underweight” rating and issued a $92.00 price objective (down from $106.00) on shares of Prudential Financial in a report on Monday, May 4th. Piper Sandler upped their target price on shares of Prudential Financial from $105.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, June 24th. Mizuho raised their price target on shares of Prudential Financial from $96.00 to $101.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Finally, BMO Capital Markets decreased their price objective on shares of Prudential Financial from $91.00 to $87.00 and set an “underperform” rating for the company in a report on Thursday, April 23rd. Eleven analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $101.92.
Get Our Latest 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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