Commonwealth Equity Services LLC increased its holdings in Prudential Financial, Inc. (NYSE:PRU – Free Report) by 2.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 337,740 shares of the financial services provider’s stock after acquiring an additional 8,115 shares during the period. Commonwealth Equity Services LLC owned about 0.09% of Prudential Financial worth $29,795,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Geode Capital Management LLC raised its holdings in shares of Prudential Financial by 1.5% in the 1st quarter. Geode Capital Management LLC now owns 7,613,784 shares of the financial services provider’s stock worth $628,529,000 after purchasing an additional 111,170 shares during the period. Morgan Stanley lifted its holdings in shares of Prudential Financial by 6.7% in the fourth quarter. Morgan Stanley now owns 6,589,363 shares of the financial services provider’s stock worth $655,378,000 after buying an additional 413,421 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Prudential Financial by 6.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 6,353,887 shares of the financial services provider’s stock valued at $750,839,000 after acquiring an additional 356,957 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Prudential Financial by 12.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,355,882 shares of the financial services provider’s stock worth $296,059,000 after purchasing an additional 376,841 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in Prudential Financial by 3.3% in the 1st quarter. Invesco Ltd. now owns 3,247,466 shares of the financial services provider’s stock valued at $383,753,000 after purchasing an additional 103,853 shares during the period. 54.92% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of brokerages recently issued reports on PRU. Piper Sandler increased their price objective on Prudential Financial from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Thursday, August 3rd. JPMorgan Chase & Co. cut their price objective on Prudential Financial from $121.00 to $119.00 and set an “overweight” rating for the company in a report on Friday, October 6th. Royal Bank of Canada reiterated a “sector perform” rating and set a $100.00 target price on shares of Prudential Financial in a research report on Friday, September 8th. Jefferies Financial Group raised shares of Prudential Financial from an “underperform” rating to a “hold” rating and increased their price target for the stock from $70.00 to $93.00 in a report on Wednesday, September 13th. Finally, Barclays lifted their price objective on shares of Prudential Financial from $91.00 to $101.00 and gave the stock an “equal weight” rating in a report on Friday, August 4th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $103.00.
Prudential Financial Stock Up 1.2 %
Shares of NYSE:PRU opened at $95.75 on Monday. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.70. The stock’s 50-day moving average price is $93.77 and its 200-day moving average price is $90.62. The stock has a market capitalization of $34.57 billion, a P/E ratio of 61.77, a price-to-earnings-growth ratio of 0.77 and a beta of 1.39. Prudential Financial, Inc. has a 12-month low of $75.37 and a 12-month high of $108.83.
Prudential Financial (NYSE:PRU – Get Free Report) last issued its earnings results on Wednesday, November 1st. The financial services provider reported $3.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.16 by $0.28. Prudential Financial had a net margin of 1.21% and a return on equity of 16.03%. The firm had revenue of $10.13 billion for the quarter, compared to analysts’ expectations of $12.91 billion. During the same quarter last year, the business earned $2.13 earnings per share. On average, equities analysts anticipate that Prudential Financial, Inc. will post 11.71 earnings per share for the current year.
Prudential Financial Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Tuesday, November 21st will be issued a dividend of $1.25 per share. The ex-dividend date of this dividend is Monday, November 20th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 5.22%. Prudential Financial’s dividend payout ratio is currently 322.58%.
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 Annuities, Individual Life, Assurance IQ, and International Businesses segments.
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