Prudential Financial, Inc. $PRU Stock Holdings Raised by Ramirez Asset Management Inc.

Ramirez Asset Management Inc. raised its stake in Prudential Financial, Inc. (NYSE:PRU) by 2.2% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 9,237 shares of the financial services provider’s stock after purchasing an additional 200 shares during the period. Ramirez Asset Management Inc.’s holdings in Prudential Financial were worth $992,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of PRU. Proffitt & Goodson Inc. raised its holdings in shares of Prudential Financial by 12.7% in the 2nd quarter. Proffitt & Goodson Inc. now owns 871 shares of the financial services provider’s stock worth $94,000 after purchasing an additional 98 shares in the last quarter. SPC Financial Inc. raised its holdings in shares of Prudential Financial by 2.6% in the 1st quarter. SPC Financial Inc. now owns 3,973 shares of the financial services provider’s stock worth $444,000 after purchasing an additional 100 shares in the last quarter. NorthCrest Asset Manangement LLC raised its holdings in shares of Prudential Financial by 3.8% in the 1st quarter. NorthCrest Asset Manangement LLC now owns 2,738 shares of the financial services provider’s stock worth $306,000 after purchasing an additional 101 shares in the last quarter. Thrive Wealth Management LLC raised its holdings in shares of Prudential Financial by 2.6% in the 2nd quarter. Thrive Wealth Management LLC now owns 4,007 shares of the financial services provider’s stock worth $430,000 after purchasing an additional 101 shares in the last quarter. Finally, Eagle Capital Management LLC raised its holdings in shares of Prudential Financial by 0.3% in the 2nd quarter. Eagle Capital Management LLC now owns 35,806 shares of the financial services provider’s stock worth $3,847,000 after purchasing an additional 108 shares in the last quarter. Institutional investors own 56.83% of the company’s stock.

Prudential Financial Stock Performance

Shares of PRU opened at $102.55 on Friday. The company’s 50 day moving average price is $105.18 and its 200 day moving average price is $104.65. Prudential Financial, Inc. has a 52 week low of $90.38 and a 52 week high of $130.55. The company has a market capitalization of $36.10 billion, a PE ratio of 22.74, a PEG ratio of 0.91 and a beta of 1.04. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.16 and a current ratio of 0.16.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $3.58 EPS for the quarter, beating analysts’ consensus estimates of $3.22 by $0.36. Prudential Financial had a net margin of 2.75% and a return on equity of 15.80%. The firm had revenue of $13.50 billion for the quarter, compared to the consensus estimate of $13.47 billion. During the same period in the previous year, the firm posted $3.39 earnings per share. The firm’s revenue was down 2.5% on a year-over-year basis. Research analysts expect that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 11th. Shareholders of record on Tuesday, August 19th were given a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 5.3%. The ex-dividend date of this dividend was Tuesday, August 19th. Prudential Financial’s payout ratio is currently 119.73%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PRU. Barclays cut their price target on shares of Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating on the stock in a report on Wednesday. Piper Sandler cut their price target on shares of Prudential Financial from $109.00 to $108.00 and set a “neutral” rating on the stock in a report on Wednesday, July 16th. Wells Fargo & Company cut their price target on shares of Prudential Financial from $116.00 to $113.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 16th. JPMorgan Chase & Co. boosted their price target on shares of Prudential Financial from $126.00 to $136.00 and gave the company a “neutral” rating in a report on Tuesday, July 8th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Prudential Financial in a report on Wednesday. One investment analyst has rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $122.27.

Insider Buying and Selling

In other Prudential Financial news, EVP Ann M. Kappler sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $109.65, for a total value of $438,600.00. Following the completion of the sale, the executive vice president directly owned 21,506 shares of the company’s stock, valued at $2,358,132.90. The trade was a 15.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.25% of the stock is owned by corporate insiders.

Prudential Financial 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 Life, and International Businesses segments.