Forsta AP Fonden Reduces Stock Position in Prudential Financial, Inc. (NYSE:PRU)

Forsta AP Fonden reduced its holdings in Prudential Financial, Inc. (NYSE:PRUGet Rating) by 3.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 113,200 shares of the financial services provider’s stock after selling 4,600 shares during the period. Forsta AP Fonden’s holdings in Prudential Financial were worth $13,377,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Rather & Kittrell Inc. purchased a new position in shares of Prudential Financial in the 4th quarter worth $27,000. FSB Premier Wealth Management Inc. purchased a new position in shares of Prudential Financial in the 4th quarter worth $29,000. Jones Financial Companies Lllp purchased a new position in shares of Prudential Financial during the 1st quarter worth about $30,000. EverSource Wealth Advisors LLC purchased a new position in shares of Prudential Financial during the 4th quarter worth about $31,000. Finally, GHP Investment Advisors Inc. purchased a new position in shares of Prudential Financial during the 1st quarter worth about $33,000. 56.77% of the stock is owned by hedge funds and other institutional investors.

Prudential Financial Stock Up 0.6 %

NYSE:PRU opened at $96.51 on Friday. The company has a market cap of $36.19 billion, a PE ratio of 17.87, a P/E/G ratio of 1.03 and a beta of 1.42. Prudential Financial, Inc. has a twelve month low of $89.73 and a twelve month high of $124.22. The company has a current ratio of 0.07, a quick ratio of 0.06 and a debt-to-equity ratio of 0.68. The company’s 50 day moving average is $97.26 and its two-hundred day moving average is $106.91.

Prudential Financial (NYSE:PRUGet Rating) last released its earnings results on Tuesday, May 3rd. The financial services provider reported $3.17 earnings per share for the quarter, topping the consensus estimate of $2.67 by $0.50. The company had revenue of $13.66 billion for the quarter, compared to the consensus estimate of $13.93 billion. Prudential Financial had a net margin of 3.52% and a return on equity of 9.25%. During the same quarter in the previous year, the firm earned $4.11 EPS. Analysts anticipate that Prudential Financial, Inc. will post 10.33 EPS for the current year.

Prudential Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 16th. Investors of record on Tuesday, May 24th were paid a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 4.97%. The ex-dividend date of this dividend was Monday, May 23rd. Prudential Financial’s dividend payout ratio is currently 88.89%.

Analyst Ratings Changes

PRU has been the subject of a number of recent analyst reports. Barclays dropped their price target on shares of Prudential Financial from $115.00 to $95.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 13th. Piper Sandler decreased their price objective on shares of Prudential Financial from $110.00 to $100.00 and set a “neutral” rating for the company in a report on Friday, July 8th. TheStreet lowered shares of Prudential Financial from a “b-” rating to a “c+” rating in a report on Thursday. Evercore ISI reduced their price target on shares of Prudential Financial from $107.00 to $100.00 and set an “underperform” rating for the company in a report on Wednesday, July 6th. Finally, Morgan Stanley reduced their price target on shares of Prudential Financial from $120.00 to $103.00 and set an “equal weight” rating for the company in a report on Wednesday, July 6th. Two analysts have rated the stock with a sell rating and ten have given a hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $106.42.

About Prudential Financial

(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.

See Also

Institutional Ownership by Quarter for Prudential Financial (NYSE:PRU)

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