Atlas Brown Inc. Buys 791 Shares of Prudential Financial, Inc. (NYSE:PRU)

Atlas Brown Inc. grew its holdings in Prudential Financial, Inc. (NYSE:PRUGet Rating) by 34.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,098 shares of the financial services provider’s stock after acquiring an additional 791 shares during the quarter. Atlas Brown Inc.’s holdings in Prudential Financial were worth $296,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Blueprint Investment Partners LLC boosted its holdings in Prudential Financial by 5.8% in the fourth quarter. Blueprint Investment Partners LLC now owns 1,708 shares of the financial services provider’s stock worth $185,000 after acquiring an additional 94 shares in the last quarter. Bank of New Hampshire boosted its holdings in Prudential Financial by 3.6% in the first quarter. Bank of New Hampshire now owns 2,740 shares of the financial services provider’s stock worth $324,000 after acquiring an additional 95 shares in the last quarter. Optimum Investment Advisors lifted its holdings in shares of Prudential Financial by 7.5% during the fourth quarter. Optimum Investment Advisors now owns 1,425 shares of the financial services provider’s stock worth $154,000 after purchasing an additional 100 shares during the period. Clarity Financial LLC lifted its holdings in shares of Prudential Financial by 2.9% during the first quarter. Clarity Financial LLC now owns 3,600 shares of the financial services provider’s stock worth $425,000 after purchasing an additional 100 shares during the period. Finally, Bray Capital Advisors lifted its holdings in shares of Prudential Financial by 1.0% during the first quarter. Bray Capital Advisors now owns 10,177 shares of the financial services provider’s stock worth $1,203,000 after purchasing an additional 102 shares during the period. Institutional investors and hedge funds own 57.74% of the company’s stock.

Prudential Financial Price Performance

Shares of Prudential Financial stock traded down $3.21 on Friday, reaching $87.77. The company’s stock had a trading volume of 67,354 shares, compared to its average volume of 1,624,972. The company has a market capitalization of $32.65 billion, a P/E ratio of 16.85, a PEG ratio of 1.02 and a beta of 1.40. Prudential Financial, Inc. has a 52-week low of $89.73 and a 52-week high of $124.22. The stock has a 50-day moving average price of $97.51 and a 200-day moving average price of $103.33. 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 Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Tuesday, August 23rd were paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 5.47%. The ex-dividend date was Monday, August 22nd. Prudential Financial’s dividend payout ratio is presently 88.89%.

Analysts Set New Price Targets

A number of research firms recently commented on PRU. Morgan Stanley lifted their target price on Prudential Financial from $103.00 to $108.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 17th. The Goldman Sachs Group decreased their target price on Prudential Financial from $116.00 to $99.00 and set a “neutral” rating for the company in a report on Monday, June 6th. Wells Fargo & Company lifted their target price on Prudential Financial from $95.00 to $101.00 and gave the stock an “equal weight” rating in a report on Thursday, August 4th. Piper Sandler decreased their target price on Prudential Financial from $110.00 to $100.00 and set a “neutral” rating for the company in a report on Friday, July 8th. Finally, Raymond James started coverage on Prudential Financial in a research report on Wednesday. They set a “strong-buy” rating and a $115.00 price target for the company. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price 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.

See Also

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

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