Recent developments have seen large investors changing their stakes in Prudential Financial. Cullinan Associates increased its investment by 2,355%, now owning 151,598 shares worth $17.8 million. National Bank of Canada boosted its holdings by 44.9% to 230,044 shares valued at $27.3 million. Other new investments came from Greenwood Capital ($1.1 million) and Nomura Holdings ($761,000), while Brookstone Capital increased its position by 1,635% to 87,201 shares worth $10.2 million. Currently, 56.83% of Prudential Financial is owned by institutional investors and hedge funds.
Analysts Update Price Targets
Analysts have set new price targets for Prudential Financial. Piper Sandler raised its target from $121 to $127, maintaining a “neutral” rating. JPMorgan increased its target from $118 to $128, also with a “neutral” rating. Citigroup’s target rose from $104 to $120. Morgan Stanley decreased its target from $123 to $122. Jefferies reduced its price from $143 to $141 while keeping a “buy” rating. Overall, Prudential is rated as “Hold” with an average target price of $123.36 according to MarketBeat.com.
Insider Transactions
Recently, Executive Vice President Ann M. Kappler sold 2,839 shares at an average price of $113.43, totaling about $322,028. After the sale, she holds 14,535 shares worth approximately $1.65 million. Another EVP, Caroline Feeney, sold 1,110 shares at $119.97, worth $133,167, leaving her with 10,175 shares valued at $1.22 million. Insiders collectively own 0.31% of the company.
Price Performance
As of Tuesday, PRU shares opened at $120.46. The company has a market cap of $43.25 billion and a price-to-earnings ratio of 20.49. Prudential Financial’s 12-month stock performance ranges from a low of $87.95 to a high of $128.52. The firm recently reported Q2 earnings of $3.39 per share, slightly missing expectations.
Dividend Announcement
Prudential Financial declared a quarterly dividend of $1.30 per share, paid on September 12th. This results in an annualized dividend of $5.20 and a yield of 4.32%. The payout ratio is currently 88.44%.
Company Overview
Prudential Financial, Inc. provides insurance and investment services in the U.S. and globally, operating through various segments including PGIM, Retirement Strategies, and International Businesses.
Recommended Stories
- Five stocks we like better than Prudential Financial
- How to Find Unusual Volume Stocks in Real Time
- Ciena Stock Powers the AI Cloud Boom
- Trading Halts Explained
- Affirm’s Path to Profitability with Interest Rate Cuts
- Top Biotech Stocks: Exploring Innovation
- RPM International Thrives in Construction Rally
Want to see other hedge funds holding PRU? Check out HoldingsChannel.com for the latest filings.
Receive daily news & ratings for Prudential Financial – Enter your email for a summary of the latest news at MarketBeat.com’s FREE newsletter.
`
