Cambridge Investment Research Advisors Inc. Raises Position in Prudential Financial, Inc. (NYSE:PRU)

Cambridge Investment Research Advisors Inc. grew its holdings in shares of Prudential Financial, Inc. (NYSE:PRUGet Rating) by 8.8% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 114,264 shares of the financial services provider’s stock after purchasing an additional 9,206 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Prudential Financial were worth $10,933,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Nvwm LLC acquired a new position in shares of Prudential Financial in the 1st quarter valued at $26,000. Rather & Kittrell Inc. acquired a new position in shares of Prudential Financial in the 4th quarter valued at $27,000. Jones Financial Companies Lllp acquired a new position in shares of Prudential Financial in the 1st quarter valued at $30,000. GHP Investment Advisors Inc. acquired a new position in shares of Prudential Financial in the 1st quarter valued at $33,000. Finally, San Luis Wealth Advisors LLC acquired a new position in shares of Prudential Financial in the 1st quarter valued at $31,000. Hedge funds and other institutional investors own 57.74% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Royal Bank of Canada cut their target price on Prudential Financial from $125.00 to $112.00 and set a “sector perform” rating on the stock in a research report on Monday, July 11th. JPMorgan Chase & Co. increased their price target on Prudential Financial from $120.00 to $122.00 in a research report on Monday, July 11th. The Goldman Sachs Group cut their price target on Prudential Financial from $116.00 to $99.00 and set a “neutral” rating on the stock in a research report on Monday, June 6th. Raymond James assumed coverage on Prudential Financial in a research report on Wednesday. They set a “strong-buy” rating and a $115.00 price target on the stock. Finally, Morgan Stanley increased their price target on Prudential Financial from $103.00 to $108.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 17th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $105.62.

Prudential Financial Trading Down 1.0 %

Shares of Prudential Financial stock opened at $90.98 on Friday. The firm has a market capitalization of $33.84 billion, a PE ratio of 16.85, a P/E/G ratio of 1.04 and a beta of 1.40. Prudential Financial, Inc. has a twelve month low of $89.73 and a twelve month high of $124.22. The firm’s 50-day moving average price is $97.51 and its 200 day moving average price is $103.33. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.68.

Prudential Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Tuesday, August 23rd were paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 5.28%. The ex-dividend date of this dividend was Monday, August 22nd. Prudential Financial’s dividend payout ratio is presently 88.89%.

Prudential Financial 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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