Keystone Financial Group boosted its stake in shares of Prudential Financial Inc (NYSE:PRU) by 9.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,375 shares of the financial services provider’s stock after purchasing an additional 201 shares during the quarter. Keystone Financial Group’s holdings in Prudential Financial were worth $240,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its position in Prudential Financial by 6.8% in the fourth quarter. Geode Capital Management LLC now owns 5,129,191 shares of the financial services provider’s stock valued at $417,519,000 after purchasing an additional 326,075 shares during the period. Brinker Capital Inc. raised its position in Prudential Financial by 5.0% in the first quarter. Brinker Capital Inc. now owns 8,726 shares of the financial services provider’s stock valued at $802,000 after purchasing an additional 417 shares during the period. Mercer Global Advisors Inc. ADV purchased a new stake in Prudential Financial in the first quarter valued at approximately $703,000. Cooper Haims Advisors LLC purchased a new stake in Prudential Financial in the first quarter valued at approximately $203,000. Finally, Creative Planning raised its position in Prudential Financial by 4.2% in the first quarter. Creative Planning now owns 24,344 shares of the financial services provider’s stock valued at $2,237,000 after purchasing an additional 979 shares during the period. Hedge funds and other institutional investors own 63.72% of the company’s stock.
Shares of NYSE:PRU traded down $1.72 during trading on Tuesday, hitting $77.89. The company’s stock had a trading volume of 79,205 shares, compared to its average volume of 2,744,506. The business has a 50 day moving average price of $92.38 and a two-hundred day moving average price of $96.47. The company has a market capitalization of $32.00 billion, a PE ratio of 6.66, a P/E/G ratio of 0.70 and a beta of 1.49. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.11 and a current ratio of 0.11. Prudential Financial Inc has a fifty-two week low of $75.61 and a fifty-two week high of $106.64.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Tuesday, August 20th will be paid a dividend of $1.00 per share. The ex-dividend date is Monday, August 19th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 5.14%. Prudential Financial’s payout ratio is currently 34.22%.
A number of analysts have issued reports on the company. Zacks Investment Research raised Prudential Financial from a “sell” rating to a “hold” rating and set a $90.00 target price on the stock in a research report on Monday, August 12th. Citigroup downgraded shares of Prudential Financial from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $112.00 to $94.00 in a research note on Monday, August 5th. Atlantic Securities downgraded shares of Prudential Financial from an “overweight” rating to a “neutral” rating in a research note on Thursday, August 8th. Barclays set a $108.00 price target on shares of Prudential Financial and gave the stock a “buy” rating in a research note on Monday, August 12th. Finally, B. Riley downgraded shares of Prudential Financial from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $122.00 to $100.00 in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $104.15.
About Prudential Financial
Prudential Financial, Inc, through its subsidiaries, provides insurance, investment management, and other financial products and services. It operates through PGIM, U.S. Workplace Solutions, U.S. Individual Solutions, and International Insurance divisions. The PGIM division offers an array of asset management and advisory services related to public and private fixed income, public equity and real estate, commercial mortgage origination and servicing, and mutual funds and other retail services to institutional, private, and sub-advisory clients, as well as to insurance company separate accounts, government sponsored entities, and the general account.
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