Cornerstone Advisory LLC Buys 125 Shares of Prudential Financial, Inc. (NYSE:PRU)

Cornerstone Advisory LLC boosted its stake in shares of Prudential Financial, Inc. (NYSE:PRUGet Rating) by 2.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,921 shares of the financial services provider’s stock after purchasing an additional 125 shares during the quarter. Cornerstone Advisory LLC’s holdings in Prudential Financial were worth $582,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of PRU. Nvwm LLC bought a new stake in shares of Prudential Financial in the first quarter valued at approximately $26,000. Rather & Kittrell Inc. bought a new position in Prudential Financial in the fourth quarter worth $27,000. Jones Financial Companies Lllp bought a new position in Prudential Financial in the first quarter worth $30,000. San Luis Wealth Advisors LLC bought a new position in Prudential Financial in the first quarter worth $31,000. Finally, GHP Investment Advisors Inc. bought a new position in Prudential Financial in the first quarter worth $33,000. 57.74% of the stock is owned by institutional investors.

Prudential Financial Price Performance

Shares of PRU opened at $94.08 on Thursday. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.68. Prudential Financial, Inc. has a 1 year low of $89.73 and a 1 year high of $124.22. The stock has a market cap of $35.00 billion, a P/E ratio of 17.42, a price-to-earnings-growth ratio of 1.07 and a beta of 1.40. The stock’s 50-day moving average price is $97.81 and its two-hundred day moving average price is $104.03.

Prudential Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Tuesday, August 23rd will be issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 5.10%. The ex-dividend date is Monday, August 22nd. Prudential Financial’s dividend payout ratio (DPR) is currently 88.89%.

Analyst Ratings Changes

Several research analysts recently commented on the company. Piper Sandler reduced their target price on Prudential Financial from $110.00 to $100.00 and set a “neutral” rating for the company in a research report on Friday, July 8th. Jefferies Financial Group increased their price objective on Prudential Financial from $78.00 to $79.00 and gave the stock an “underperform” rating in a research note on Thursday, September 8th. Citigroup began coverage on Prudential Financial in a research note on Monday, May 23rd. They set a “neutral” rating and a $100.00 price objective for the company. Barclays dropped their price objective on 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. Finally, Royal Bank of Canada dropped their price objective on Prudential Financial from $125.00 to $112.00 and set a “sector perform” rating for the company in a research note on Monday, July 11th. Two analysts have rated the stock with a sell rating and ten have issued a hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $104.83.

Prudential Financial 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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