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

Ethic Inc. grew its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 27.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 63,512 shares of the financial services provider’s stock after purchasing an additional 13,492 shares during the period. Ethic Inc.’s holdings in Prudential Financial were worth $5,255,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Aspire Private Capital LLC acquired a new stake in shares of Prudential Financial during the first quarter worth $18,699,240,000. Sanctuary Wealth Management L.L.C. bought a new position in shares of Prudential Financial during the fourth quarter worth about $25,000. Tanglewood Legacy Advisors LLC bought a new position in shares of Prudential Financial during the fourth quarter worth about $27,000. Fairfield Bush & CO. bought a new position in shares of Prudential Financial during the first quarter worth about $36,000. Finally, Householder Group Estate & Retirement Specialist LLC bought a new position in shares of Prudential Financial during the first quarter worth about $25,000. 54.92% of the stock is owned by institutional investors and hedge funds.

Prudential Financial Price Performance

Shares of NYSE:PRU traded up $1.43 during trading hours on Friday, hitting $96.10. 181,226 shares of the company’s stock traded hands, compared to its average volume of 2,075,171. Prudential Financial, Inc. has a 52 week low of $75.37 and a 52 week high of $110.96. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.06 and a current ratio of 0.06. The company’s fifty day simple moving average is $92.78 and its two-hundred day simple moving average is $88.49. The company has a market cap of $34.88 billion, a price-to-earnings ratio of 31.56, a price-to-earnings-growth ratio of 0.75 and a beta of 1.40.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Tuesday, August 1st. The financial services provider reported $2.94 earnings per share for the quarter, missing the consensus estimate of $3.04 by ($0.10). Prudential Financial had a net margin of 1.82% and a return on equity of 15.73%. The business had revenue of $12.64 billion for the quarter, compared to the consensus estimate of $12.68 billion. During the same quarter last year, the business posted $1.74 EPS. As a group, equities analysts anticipate that Prudential Financial, Inc. will post 11.81 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 14th. Shareholders of record on Tuesday, August 22nd will be paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 5.20%. The ex-dividend date of this dividend is Monday, August 21st. Prudential Financial’s dividend payout ratio is presently 166.67%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Barclays upped their price target on shares of Prudential Financial from $91.00 to $101.00 and gave the stock an “equal weight” rating in a research report on Friday, August 4th. Morgan Stanley restated an “equal weight” rating and set a $102.00 price target on shares of Prudential Financial in a research report on Wednesday, August 2nd. Royal Bank of Canada upped their price target on shares of Prudential Financial from $94.00 to $100.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 3rd. Piper Sandler increased their target price on shares of Prudential Financial from $95.00 to $100.00 and gave the company a “neutral” rating in a research report on Thursday, August 3rd. Finally, StockNews.com initiated coverage on shares of Prudential Financial in a research report on Thursday, August 17th. They issued a “hold” rating for the company. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $101.45.

Prudential Financial Company Profile

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.