Recently, several large investors have increased their stakes in Prudential Financial. Cullinan Associates Inc. raised its holding by 2,355%, now owning 151,598 shares worth about $17.8 million. National Bank of Canada FI increased its investment by 44.9%, acquiring 230,044 shares valued at $27.3 million. Greenwood Capital Associates LLC and Nomura Holdings Inc. also bought new shares, with Greenwood investing $1.1 million and Nomura $761,000. Brookstone Capital Management boosted its ownership by 1,635%, now holding 87,201 shares worth $10.2 million. Currently, institutional investors and hedge funds own 56.83% of the stock.
Analysts Set New Price Targets
Analysts have recently updated their price targets for Prudential Financial (PRU). Piper Sandler increased its target from $121 to $127, maintaining a “neutral” rating. JPMorgan Chase raised it from $118 to $128, also with a “neutral” rating. Citigroup set a new target of $120 (up from $104). Morgan Stanley adjusted its target down to $122, and Jefferies Financial Group lowered its price target to $141. Overall, 1 analyst rates the stock as a sell, 9 as hold, 1 as buy, and 1 as strong buy. The consensus rating is “Hold” with an average target price of $123.36 according to MarketBeat.com.
Check Out Our Latest Analysis on PRU
Insider Transactions at Prudential Financial
In related news, EVP Ann M. Kappler sold 2,839 shares on August 21 for $322,027.77, leaving her with 14,535 shares valued at about $1.6 million. EVP Caroline Feeney also sold 1,110 shares on September 3 for $133,166.70 and now owns 10,175 shares worth about $1.22 million. Insiders hold 0.31% of the company’s stock.
Prudential Financial Price Performance
On Tuesday, PRU opened at $120.46. The company has a market cap of $43.25 billion, a P/E ratio of 20.49, and a dividend yield of 4.32%. Prudential’s 12-month low is $87.95, and its high is $128.52. It last reported earnings on August 1, missing estimates with an EPS of $3.39 against a forecast of $3.43, while its revenue was $13.84 billion.
Prudential Financial Dividend Announcement
Prudential recently declared a quarterly dividend of $1.30 per share, paid on September 12 to shareholders on record as of August 20. This gives an annualized dividend of $5.20 and a payout ratio of 88.44%.
Prudential Financial Profile
Prudential Financial, Inc. provides insurance, investment management, and financial services globally, operating through various segments including PGIM and Retirement Strategies.
Recommended Stories
- Five stocks we like better than Prudential Financial
- Stocks with Unusual Volume
- Ciena Stock Powers the AI Cloud Boom
- Trading Halts Explained
- Affirms Path to Profitability with Interest Rate Cuts
- Top Biotech Stocks: Exploring Opportunities
- RPM International Thrives in Rate-Cut Construction Rally
Want to see what other hedge funds are holding PRU? Visit HoldingsChannel.com for the latest filings and trades for Prudential Financial, Inc. (NYSE:PRU Free Report).
Receive News & Ratings for Prudential Financial Daily – Enter your email below for a daily summary of news and ratings from MarketBeat.com.
`
