Founders Financial Securities LLC bought a new stake in Prudential Financial, Inc. (NYSE:PRU – Free Report) during the fourth quarter, HoldingsChannel.com reports. The firm bought 6,346 shares of the financial services provider’s stock, valued at approximately $716,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Salomon & Ludwin LLC grew its position in Prudential Financial by 98.3% in the fourth quarter. Salomon & Ludwin LLC now owns 230 shares of the financial services provider’s stock valued at $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 fourth quarter valued at about $28,000. Coston McIsaac & Partners grew its position 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 acquiring an additional 128 shares during the last quarter. Basepoint Wealth LLC bought a new position in Prudential Financial in the fourth quarter valued at about $30,000. Finally, Wealth Watch Advisors INC bought a new position in Prudential Financial in the third quarter valued at about $30,000. Institutional investors own 56.83% of the company’s stock.
Prudential Financial Price Performance
Shares of PRU opened at $100.72 on Tuesday. Prudential Financial, Inc. has a 1 year low of $91.89 and a 1 year high of $119.76. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.16 and a quick ratio of 0.16. The company has a market capitalization of $34.95 billion, a price-to-earnings ratio of 10.36, a price-to-earnings-growth ratio of 1.84 and a beta of 0.86. The business has a 50-day moving average of $98.86 and a 200-day moving average of $104.41.
Prudential Financial Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 11th. Stockholders of record on Tuesday, May 26th will be given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date is Tuesday, May 26th. Prudential Financial’s dividend payout ratio (DPR) is 57.61%.
Analyst Ratings Changes
A number of research analysts have issued reports on the company. BMO Capital Markets decreased their target price on Prudential Financial from $91.00 to $87.00 and set an “underperform” rating on the stock in a research report on Thursday, April 23rd. Weiss Ratings cut Prudential Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, March 13th. Evercore reiterated a “negative” rating on shares of Prudential Financial in a research report on Friday, March 6th. Mizuho upped their target price on Prudential Financial from $96.00 to $101.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Finally, Piper Sandler upped their target price on Prudential Financial from $99.00 to $105.00 and gave the stock a “neutral” rating in a report on Monday, May 11th. Nine analysts have rated the stock with a Hold rating and six have given a Sell rating to the company. Based on data from MarketBeat, Prudential Financial has a consensus rating of “Reduce” and a consensus price target of $101.50.
Check Out Our Latest Stock Analysis 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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