Los Angeles Capital Management LLC lowered its position in Prudential Financial, Inc. (NYSE:PRU – Get Rating) by 3.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,619 shares of the financial services provider’s stock after selling 202 shares during the period. Los Angeles Capital Management LLC’s holdings in Prudential Financial were worth $633,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Total Clarity Wealth Management Inc. acquired a new position in shares of Prudential Financial in the second quarter worth about $25,000. Nvwm LLC acquired a new position in shares of Prudential Financial in the first quarter worth about $26,000. Jones Financial Companies Lllp acquired a new position in shares of Prudential Financial in the first quarter worth about $30,000. San Luis Wealth Advisors LLC acquired a new position 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 during the first quarter worth about $33,000. Institutional investors and hedge funds own 57.74% of the company’s stock.
Prudential Financial Stock Performance
Prudential Financial stock opened at $102.42 on Thursday. The firm has a 50 day simple moving average of $95.73 and a 200-day simple moving average of $98.61. Prudential Financial, Inc. has a 1-year low of $85.46 and a 1-year high of $124.22. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.07 and a quick ratio of 0.07. The stock has a market cap of $37.69 billion, a price-to-earnings ratio of 142.25 and a beta of 1.43.
Prudential Financial Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Tuesday, November 22nd will be issued a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 4.69%. Prudential Financial’s dividend payout ratio is currently 666.67%.
Analysts Set New Price Targets
Several research firms recently weighed in on PRU. JPMorgan Chase & Co. reduced their price target on shares of Prudential Financial from $122.00 to $118.00 and set a “neutral” rating for the company in a research report on Friday, October 7th. Evercore ISI reduced their price target on shares of Prudential Financial to $90.00 in a research report on Tuesday, August 9th. Credit Suisse Group reduced their price target on shares of Prudential Financial to $102.00 in a research report on Thursday, September 29th. Jefferies Financial Group upped their price target on shares of Prudential Financial from $78.00 to $79.00 and gave the stock an “underperform” rating in a research report on Thursday, September 8th. Finally, Morgan Stanley upped their price target on shares of Prudential Financial from $108.00 to $111.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 2nd. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $103.08.
Prudential Financial Profile
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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.
Further Reading
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