Wetherby Asset Management Inc. Buys 1,948 Shares of Prudential Financial, Inc. (NYSE:PRU)

Wetherby Asset Management Inc. increased its stake in Prudential Financial, Inc. (NYSE:PRUGet Rating) by 18.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,301 shares of the financial services provider’s stock after purchasing an additional 1,948 shares during the quarter. Wetherby Asset Management Inc.’s holdings in Prudential Financial were worth $1,454,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Norges Bank bought a new stake in Prudential Financial during the 4th quarter valued at $283,466,000. First Trust Advisors LP raised its holdings in Prudential Financial by 318.2% during the 1st quarter. First Trust Advisors LP now owns 2,375,383 shares of the financial services provider’s stock valued at $280,699,000 after acquiring an additional 1,807,375 shares during the period. Cowa LLC raised its holdings in Prudential Financial by 9,930.2% during the 1st quarter. Cowa LLC now owns 771,824 shares of the financial services provider’s stock valued at $912,000 after acquiring an additional 764,129 shares during the period. Mariner LLC raised its holdings in Prudential Financial by 2,197.4% during the 1st quarter. Mariner LLC now owns 690,184 shares of the financial services provider’s stock valued at $81,560,000 after acquiring an additional 660,142 shares during the period. Finally, Vanguard Group Inc. raised its holdings in Prudential Financial by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 31,119,980 shares of the financial services provider’s stock valued at $3,677,448,000 after acquiring an additional 577,475 shares during the period. Institutional investors own 57.74% of the company’s stock.

Prudential Financial Stock Up 1.6 %

Shares of NYSE:PRU opened at $98.48 on Monday. Prudential Financial, Inc. has a 52-week low of $89.73 and a 52-week high of $124.22. The firm has a fifty day moving average of $97.75 and a 200 day moving average of $104.18. The firm has a market capitalization of $36.63 billion, a PE ratio of 18.24, a price-to-earnings-growth ratio of 1.10 and a beta of 1.40. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.07 and a current ratio of 0.07.

Prudential Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Tuesday, August 23rd will be given a $1.20 dividend. The ex-dividend date is Monday, August 22nd. This represents a $4.80 annualized dividend and a yield of 4.87%. Prudential Financial’s dividend payout ratio (DPR) is presently 88.89%.

Analysts Set New Price Targets

Several research firms have recently weighed in on PRU. Royal Bank of Canada decreased their price target on shares of 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 decreased their price target on shares of Prudential Financial to $90.00 in a report on Tuesday, August 9th. The Goldman Sachs Group decreased their price target on shares of Prudential Financial from $116.00 to $99.00 and set a “neutral” rating on the stock in a report on Monday, June 6th. Barclays decreased their price target on shares of Prudential Financial from $115.00 to $95.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 13th. Finally, Piper Sandler decreased their price target on shares of Prudential Financial from $110.00 to $100.00 and set a “neutral” rating on the stock in a report on Friday, July 8th. Two analysts have rated the stock with a sell rating and ten have assigned a hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $104.83.

Prudential Financial Company Profile

(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.

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

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