Perpetual Ltd reduced its position in Prudential Financial, Inc. (NYSE:PRU – Free Report) by 56.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,600 shares of the financial services provider’s stock after selling 3,431 shares during the period. Perpetual Ltd’s holdings in Prudential Financial were worth $308,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Ballentine Partners LLC grew its position in Prudential Financial by 7.9% in the 4th quarter. Ballentine Partners LLC now owns 8,191 shares of the financial services provider’s stock worth $971,000 after purchasing an additional 598 shares during the period. Pure Financial Advisors LLC grew its position in Prudential Financial by 4.0% in the 4th quarter. Pure Financial Advisors LLC now owns 3,898 shares of the financial services provider’s stock worth $462,000 after purchasing an additional 150 shares during the period. UMB Bank n.a. grew its position in Prudential Financial by 5.5% in the 4th quarter. UMB Bank n.a. now owns 3,861 shares of the financial services provider’s stock worth $458,000 after purchasing an additional 201 shares during the period. Annex Advisory Services LLC grew its position in Prudential Financial by 9.9% in the 4th quarter. Annex Advisory Services LLC now owns 2,704 shares of the financial services provider’s stock worth $320,000 after purchasing an additional 244 shares during the period. Finally, Grove Bank & Trust grew its position in Prudential Financial by 65.9% in the 4th quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 87 shares during the period. 56.83% of the stock is currently owned by hedge funds and other institutional investors.
Prudential Financial Trading Down 0.5 %
Shares of Prudential Financial stock opened at $116.75 on Friday. The company has a market capitalization of $41.56 billion, a P/E ratio of 10.38, a P/E/G ratio of 1.11 and a beta of 1.31. Prudential Financial, Inc. has a fifty-two week low of $100.60 and a fifty-two week high of $130.55. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.14 and a current ratio of 0.14. The company has a fifty day moving average of $121.68 and a 200 day moving average of $120.69.
Prudential Financial Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, November 19th were paid a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 4.45%. The ex-dividend date of this dividend was Tuesday, November 19th. Prudential Financial’s payout ratio is currently 46.22%.
Analysts Set New Price Targets
A number of research firms have commented on PRU. BMO Capital Markets began coverage on shares of Prudential Financial in a research report on Thursday. They issued an “underperform” rating and a $101.00 target price for the company. TD Cowen boosted their price objective on shares of Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a research report on Wednesday, November 27th. Evercore ISI raised shares of Prudential Financial from an “underperform” rating to an “inline” rating and boosted their price objective for the company from $117.00 to $140.00 in a research report on Thursday, November 14th. Wells Fargo & Company cut their price objective on shares of Prudential Financial from $117.00 to $115.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. Finally, Keefe, Bruyette & Woods cut their price objective on shares of Prudential Financial from $135.00 to $129.00 and set a “market perform” rating for the company in a research report on Thursday, January 16th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $125.31.
Get Our Latest Stock Analysis on Prudential Financial
Insiders Place Their Bets
In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 537,249 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were purchased at an average cost of $27.92 per share, for a total transaction of $14,999,992.08. Following the transaction, the insider now owns 4,780,293 shares of the company’s stock, valued at $133,465,780.56. This represents a 12.66 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.31% of the company’s stock.
About Prudential Financial
Prudential Financial, Inc, together with its subsidiaries, provides insurance, investment management, and other financial products and services in the United States and internationally. It operates through PGIM, Retirement Strategies, Group Insurance, Individual Life, and International Businesses segments.
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