Banque Pictet & Cie SA Takes $335,000 Position in Prudential Financial, Inc. (NYSE:PRU)

Banque Pictet & Cie SA purchased a new stake in Prudential Financial, Inc. (NYSE:PRUGet Rating) in the 2nd quarter, HoldingsChannel.com reports. The firm purchased 3,500 shares of the financial services provider’s stock, valued at approximately $335,000.

Other large investors have also modified their holdings of the company. Bray Capital Advisors boosted its stake in Prudential Financial by 1.0% during the first quarter. Bray Capital Advisors now owns 10,177 shares of the financial services provider’s stock worth $1,203,000 after buying an additional 102 shares during the period. Accurate Wealth Management LLC lifted its position in shares of Prudential Financial by 4.8% during the first quarter. Accurate Wealth Management LLC now owns 2,249 shares of the financial services provider’s stock worth $266,000 after purchasing an additional 103 shares in the last quarter. Clarity Financial LLC lifted its position in shares of Prudential Financial by 3.1% during the second quarter. Clarity Financial LLC now owns 3,710 shares of the financial services provider’s stock worth $355,000 after purchasing an additional 110 shares in the last quarter. Pinnacle Associates Ltd. lifted its position in shares of Prudential Financial by 0.7% during the second quarter. Pinnacle Associates Ltd. now owns 16,553 shares of the financial services provider’s stock worth $1,584,000 after purchasing an additional 111 shares in the last quarter. Finally, Fortitude Advisory Group L.L.C. lifted its position in shares of Prudential Financial by 12.9% during the first quarter. Fortitude Advisory Group L.L.C. now owns 980 shares of the financial services provider’s stock worth $116,000 after purchasing an additional 112 shares in the last quarter. Institutional investors own 57.74% of the company’s stock.

Prudential Financial Stock Up 2.3 %

PRU stock opened at $110.21 on Friday. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 1.16. Prudential Financial, Inc. has a twelve month low of $85.46 and a twelve month high of $124.22. The company’s 50 day moving average is $96.29 and its two-hundred day moving average is $98.57. The stock has a market cap of $40.56 billion, a P/E ratio of 153.07 and a beta of 1.43.

Prudential Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Tuesday, November 22nd will be issued a dividend of $1.20 per share. The ex-dividend date is Monday, November 21st. This represents a $4.80 dividend on an annualized basis and a yield of 4.36%. Prudential Financial’s payout ratio is currently 666.67%.

Analysts Set New Price Targets

PRU has been the topic of several research reports. TheStreet cut shares of Prudential Financial from a “b-” rating to a “c+” rating in a research report on Thursday, August 4th. Morgan Stanley raised their target price on shares of Prudential Financial from $108.00 to $111.00 and gave the company an “equal weight” rating in a report on Wednesday, November 2nd. Evercore ISI reduced their target price on shares of Prudential Financial to $90.00 in a report on Tuesday, August 9th. Barclays reduced their target price on shares of Prudential Financial from $95.00 to $94.00 and set an “equal weight” rating on the stock in a report on Friday, October 14th. Finally, Royal Bank of Canada raised their target price on shares of Prudential Financial from $102.00 to $110.00 and gave the company a “sector perform” rating in a report on Thursday, November 3rd. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $103.08.

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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