Prudential Financial, Inc. (NYSE:PRU) Position Increased by Perigon Wealth Management LLC

Perigon Wealth Management LLC boosted its stake in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 666.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,797 shares of the financial services provider's stock after buying an additional 36,342 shares during the period. Perigon Wealth Management LLC's holdings in Prudential Financial were worth $4,668,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in Prudential Financial in the 4th quarter valued at about $115,878,000. Northern Trust Corp raised its holdings in shares of Prudential Financial by 23.7% during the fourth quarter. Northern Trust Corp now owns 4,686,690 shares of the financial services provider's stock valued at $555,513,000 after buying an additional 897,916 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Prudential Financial by 11,280.3% during the first quarter. GAMMA Investing LLC now owns 867,865 shares of the financial services provider's stock worth $96,923,000 after buying an additional 860,239 shares during the period. Raymond James Financial Inc. bought a new position in Prudential Financial in the 4th quarter worth approximately $76,303,000. Finally, Marshall Wace LLP increased its position in Prudential Financial by 322.9% in the 4th quarter. Marshall Wace LLP now owns 711,102 shares of the financial services provider's stock valued at $84,287,000 after acquiring an additional 542,964 shares during the period. 56.83% of the stock is currently owned by institutional investors.

Prudential Financial Price Performance

Shares of NYSE:PRU opened at $106.88 on Friday. The company has a market capitalization of $37.84 billion, a PE ratio of 16.94, a price-to-earnings-growth ratio of 1.01 and a beta of 1.07. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.17 and a current ratio of 0.17. The stock has a fifty day moving average of $103.94 and a 200-day moving average of $109.78. Prudential Financial, Inc. has a one year low of $90.38 and a one year high of $130.55.

Prudential Financial (NYSE:PRU - Get Free Report) last announced its earnings results on Wednesday, April 30th. The financial services provider reported $3.29 EPS for the quarter, beating the consensus estimate of $3.18 by $0.11. The business had revenue of $13.61 billion during the quarter, compared to the consensus estimate of $14.76 billion. Prudential Financial had a return on equity of 15.84% and a net margin of 3.84%. Prudential Financial's revenue was down 38.2% compared to the same quarter last year. During the same period in the prior year, the business posted $3.12 earnings per share. As a group, equities analysts anticipate that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Tuesday, May 20th were issued a dividend of $1.35 per share. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 5.05%. Prudential Financial's dividend payout ratio is currently 85.58%.

Analyst Ratings Changes

Several research firms have recently issued reports on PRU. Keefe, Bruyette & Woods decreased their price target on Prudential Financial from $120.00 to $117.00 and set a "market perform" rating for the company in a research note on Wednesday, May 7th. Piper Sandler decreased their target price on shares of Prudential Financial from $110.00 to $109.00 and set a "neutral" rating for the company in a research report on Friday, May 2nd. Barclays lowered their target price on shares of Prudential Financial from $134.00 to $106.00 and set an "equal weight" rating on the stock in a research note on Friday, April 11th. Wells Fargo & Company upped their price target on shares of Prudential Financial from $108.00 to $113.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 6th. Finally, JPMorgan Chase & Co. dropped their target price on Prudential Financial from $128.00 to $126.00 and set a "neutral" rating on the stock in a report on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Prudential Financial currently has an average rating of "Hold" and a consensus price target of $120.15.

Insider Activity at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential purchased 1,675,978 shares of the company's stock in a transaction that occurred on Monday, June 16th. The shares were purchased at an average cost of $28.64 per share, with a total value of $48,000,009.92. Following the completion of the transaction, the insider now owns 3,168,461 shares of the company's stock, valued at approximately $90,744,723.04. This represents a 112.29% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.25% of the stock is owned by insiders.

Prudential Financial Company Profile

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 PGIM, Retirement Strategies, Group Insurance, Individual Life, and International Businesses segments.

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