Deseret Mutual Benefit Administrators lessened its holdings in shares of Prudential Financial, Inc. (NYSE:PRU – Free Report) by 21.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,395 shares of the financial services provider’s stock after selling 926 shares during the period. Deseret Mutual Benefit Administrators’ holdings in Prudential Financial were worth $379,000 as of its most recent filing with the SEC.
Other institutional investors also recently modified their holdings of the company. Opal Wealth Advisors LLC bought a new position in Prudential Financial during the 1st quarter worth $30,000. Hopwood Financial Services Inc. acquired a new stake in shares of Prudential Financial in the fourth quarter valued at about $34,000. Lee Danner & Bass Inc. bought a new position in shares of Prudential Financial during the fourth quarter worth about $35,000. TCTC Holdings LLC acquired a new position in shares of Prudential Financial in the fourth quarter worth approximately $37,000. Finally, Marshall & Sterling Wealth Advisors Inc. bought a new stake in Prudential Financial in the fourth quarter valued at approximately $38,000. Institutional investors own 56.83% of the company’s stock.
Prudential Financial Stock Performance
Shares of Prudential Financial stock opened at $107.43 on Tuesday. The business has a 50-day simple moving average of $104.31 and a 200 day simple moving average of $109.44. Prudential Financial, Inc. has a one year low of $90.38 and a one year high of $130.55. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.17 and a quick ratio of 0.17. The firm has a market capitalization of $38.03 billion, a price-to-earnings ratio of 17.03, a PEG ratio of 1.02 and a beta of 1.07.
Prudential Financial Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Tuesday, May 20th were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 5.03%. The ex-dividend date of this dividend was Tuesday, May 20th. Prudential Financial’s dividend payout ratio (DPR) is 85.58%.
Wall Street Analyst Weigh In
Several research analysts have issued reports on PRU shares. Wells Fargo & Company raised their price target on shares of Prudential Financial from $108.00 to $113.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 6th. Keefe, Bruyette & Woods lowered their target price on shares of Prudential Financial from $120.00 to $117.00 and set a “market perform” rating for the company in a research note on Wednesday, May 7th. UBS Group dropped their target price on shares of Prudential Financial from $122.00 to $110.00 and set a “neutral” rating on the stock in a report on Tuesday, May 27th. Wall Street Zen upgraded Prudential Financial from a “sell” rating to a “hold” rating in a report on Monday, June 16th. Finally, JPMorgan Chase & Co. dropped their price objective on Prudential Financial from $128.00 to $126.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 2nd. One analyst has rated the stock with a sell rating, eleven have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Prudential Financial has a consensus rating of “Hold” and a consensus target price of $120.15.
Read Our Latest Research Report on Prudential Financial
Insider Activity
In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 1,675,978 shares of the stock in a transaction that occurred on Monday, June 16th. The shares were bought at an average price of $28.64 per share, for a total transaction of $48,000,009.92. Following the acquisition, the insider directly owned 3,168,461 shares of the company’s stock, valued at approximately $90,744,723.04. The trade was a 112.29% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.
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