New England Research & Management Inc. boosted its holdings in shares of Prudential Financial, Inc. (NYSE:PRU – Get Rating) by 21.2% in the second quarter, HoldingsChannel reports. The fund owned 20,131 shares of the financial services provider's stock after buying an additional 3,525 shares during the quarter. Prudential Financial accounts for 1.1% of New England Research & Management Inc.'s portfolio, making the stock its 27th biggest holding. New England Research & Management Inc.'s holdings in Prudential Financial were worth $1,926,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently bought and sold shares of the business. Nvwm LLC acquired a new stake in shares of Prudential Financial during the 1st quarter valued at about $26,000. Rather & Kittrell Inc. bought a new position in Prudential Financial during the fourth quarter valued at approximately $27,000. Jones Financial Companies Lllp acquired a new stake in Prudential Financial in the first quarter valued at approximately $30,000. San Luis Wealth Advisors LLC bought a new stake in Prudential Financial in the first quarter worth approximately $31,000. Finally, GHP Investment Advisors Inc. bought a new position in shares of Prudential Financial during the 1st quarter valued at $33,000. Hedge funds and other institutional investors own 57.74% of the company's stock.
Get Prudential Financial alerts:Prudential Financial Stock Performance
Prudential Financial stock traded down $1.84 during trading hours on Thursday, hitting $86.48. The stock had a trading volume of 24,886 shares, compared to its average volume of 1,844,813. Prudential Financial, Inc. has a fifty-two week low of $86.18 and a fifty-two week high of $124.22. The company has a market cap of $32.17 billion, a PE ratio of 16.36, a price-to-earnings-growth ratio of 0.97 and a beta of 1.40. The company has a 50-day moving average of $97.02 and a two-hundred day moving average of $102.84. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.68.
Prudential Financial (NYSE:PRU – Get Rating) last released its quarterly earnings results on Tuesday, August 2nd. The financial services provider reported $1.74 EPS for the quarter, missing analysts' consensus estimates of $2.62 by ($0.88). The firm had revenue of $13.77 billion during the quarter, compared to analyst estimates of $12.56 billion. Prudential Financial had a net margin of 3.52% and a return on equity of 9.25%. On average, equities research analysts anticipate that Prudential Financial, Inc. will post 10.03 EPS for the current fiscal year.Prudential Financial Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Tuesday, August 23rd were given a $1.20 dividend. The ex-dividend date of this dividend was Monday, August 22nd. This represents a $4.80 dividend on an annualized basis and a yield of 5.55%. Prudential Financial's payout ratio is 88.89%.
Analysts Set New Price Targets
A number of brokerages recently issued reports on PRU. 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. Royal Bank of Canada lowered their price objective on Prudential Financial from $125.00 to $112.00 and set a "sector perform" rating on the stock in a report on Monday, July 11th. Evercore ISI reduced their target price on Prudential Financial to $90.00 in a report on Tuesday, August 9th. TheStreet downgraded shares of Prudential Financial from a "b-" rating to a "c+" rating in a report on Thursday, August 4th. Finally, Jefferies Financial Group upped their price target on shares of Prudential Financial from $78.00 to $79.00 and gave the company an "underperform" rating in a report on Thursday, September 8th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $105.62.
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.
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