Ignite Planners LLC trimmed its position in shares of Prudential Financial, Inc. (NYSE:PRU – Free Report) by 10.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,327 shares of the financial services provider’s stock after selling 269 shares during the period. Ignite Planners LLC’s holdings in Prudential Financial were worth $209,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its position in shares of Prudential Financial by 148.0% during the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 6,801 shares of the financial services provider’s stock worth $563,000 after acquiring an additional 4,059 shares in the last quarter. Wealthfront Advisers LLC lifted its position in shares of Prudential Financial by 7.3% during the first quarter. Wealthfront Advisers LLC now owns 68,271 shares of the financial services provider’s stock worth $5,649,000 after acquiring an additional 4,653 shares in the last quarter. Pictet Asset Management SA lifted its position in shares of Prudential Financial by 2.4% during the first quarter. Pictet Asset Management SA now owns 197,301 shares of the financial services provider’s stock worth $16,325,000 after acquiring an additional 4,601 shares in the last quarter. Parallel Advisors LLC lifted its position in shares of Prudential Financial by 3.0% during the first quarter. Parallel Advisors LLC now owns 5,411 shares of the financial services provider’s stock worth $448,000 after acquiring an additional 156 shares in the last quarter. Finally, Perpetual Ltd purchased a new stake in shares of Prudential Financial in the first quarter worth $215,000. 54.92% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on PRU. Morgan Stanley reiterated an “equal weight” rating and issued a $102.00 price objective on shares of Prudential Financial in a research report on Wednesday, August 2nd. Jefferies Financial Group upgraded Prudential Financial from an “underperform” rating to a “hold” rating and raised their price target for the company from $70.00 to $93.00 in a research report on Wednesday, September 13th. TheStreet raised Prudential Financial from a “c” rating to a “b” rating in a research note on Tuesday, August 1st. Barclays raised their price objective on Prudential Financial from $91.00 to $101.00 and gave the company an “equal weight” rating in a research note on Friday, August 4th. Finally, Raymond James raised Prudential Financial from a “market perform” rating to a “strong-buy” rating and set a $125.00 price objective on the stock in a research note on Thursday, August 24th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $102.73.
Prudential Financial Price Performance
Shares of NYSE PRU opened at $98.90 on Tuesday. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.64. Prudential Financial, Inc. has a twelve month low of $75.37 and a twelve month high of $110.96. The firm has a market cap of $35.90 billion, a P/E ratio of 32.97, a PEG ratio of 0.79 and a beta of 1.41. The company has a 50 day moving average of $94.64 and a 200 day moving average of $87.95.
Prudential Financial (NYSE:PRU – Get Free Report) last issued its quarterly earnings data on Tuesday, August 1st. The financial services provider reported $2.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 period in the previous year, the firm earned $1.74 EPS. As a group, research analysts expect that Prudential Financial, Inc. will post 11.81 EPS for the current fiscal year.
Prudential Financial Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, September 14th. Investors of record on Tuesday, August 22nd were issued a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 5.06%. The ex-dividend date was Monday, August 21st. Prudential Financial’s dividend payout ratio is currently 166.67%.
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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