Prudential Financial, Inc. (NYSE:PRU) Shares Bought by AdvisorNet Financial Inc

AdvisorNet Financial Inc grew its position in Prudential Financial, Inc. (NYSE:PRUGet Rating) by 18.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,437 shares of the financial services provider’s stock after purchasing an additional 983 shares during the period. AdvisorNet Financial Inc’s holdings in Prudential Financial were worth $616,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Nvwm LLC acquired a new position in shares of Prudential Financial in the first quarter valued at about $26,000. Rather & Kittrell Inc. purchased a new stake in shares of Prudential Financial in the fourth quarter worth about $27,000. Jones Financial Companies Lllp purchased a new stake in shares of Prudential Financial in the first quarter worth about $30,000. San Luis Wealth Advisors LLC purchased a new stake in shares of Prudential Financial in the first quarter worth about $31,000. Finally, GHP Investment Advisors Inc. purchased a new stake in shares of Prudential Financial in the first quarter worth about $33,000. 57.74% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on PRU shares. Barclays lowered their target price on Prudential Financial from $115.00 to $95.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 13th. The Goldman Sachs Group lowered their target price on Prudential Financial from $116.00 to $99.00 and set a “neutral” rating on the stock in a research note on Monday, June 6th. Morgan Stanley upped their target price on Prudential Financial from $103.00 to $108.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 17th. Citigroup began coverage on Prudential Financial in a research report on Monday, May 23rd. They set a “neutral” rating and a $100.00 price target on the stock. Finally, Piper Sandler lowered their price target on Prudential Financial from $110.00 to $100.00 and set a “neutral” rating on the stock in a research report on Friday, July 8th. Two analysts have rated the stock with a sell rating and ten have given a hold rating to the company’s stock. According to data from MarketBeat.com, Prudential Financial currently has a consensus rating of “Hold” and a consensus price target of $104.83.

Prudential Financial Stock Performance

NYSE PRU opened at $91.92 on Monday. The company has a market cap of $34.19 billion, a PE ratio of 17.02, a price-to-earnings-growth ratio of 1.02 and a beta of 1.40. The stock’s 50 day simple moving average is $97.62 and its 200-day simple moving average is $103.69. Prudential Financial, Inc. has a 1-year low of $89.73 and a 1-year high of $124.22. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.07 and a quick ratio of 0.07.

Prudential Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Tuesday, August 23rd were given a $1.20 dividend. The ex-dividend date was Monday, August 22nd. This represents a $4.80 annualized dividend and a dividend yield of 5.22%. Prudential Financial’s dividend payout ratio (DPR) is presently 88.89%.

Prudential Financial Company Profile

(Get Rating)

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 eight segments: PGIM, Retirement, Group Insurance, Individual Annuities, Individual Life, Assurance IQ, International Businesses, and Closed Block.

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Institutional Ownership by Quarter for Prudential Financial (NYSE:PRU)

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