Procyon Advisors LLC Purchases New Holdings in Prudential Financial, Inc. (NYSE:PRU)

Procyon Advisors LLC purchased a new stake in Prudential Financial, Inc. (NYSE:PRUGet Rating) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 6,426 shares of the financial services provider’s stock, valued at approximately $615,000.

Other institutional investors have also made changes to their positions in the company. Moors & Cabot Inc. lifted its stake in Prudential Financial by 5.2% during the first quarter. Moors & Cabot Inc. now owns 11,628 shares of the financial services provider’s stock worth $1,374,000 after purchasing an additional 576 shares during the last quarter. Norinchukin Bank The lifted its stake in Prudential Financial by 22.7% during the first quarter. Norinchukin Bank The now owns 15,507 shares of the financial services provider’s stock worth $1,832,000 after purchasing an additional 2,871 shares during the last quarter. Advisory Services Network LLC lifted its stake in Prudential Financial by 29.4% during the first quarter. Advisory Services Network LLC now owns 38,550 shares of the financial services provider’s stock worth $4,555,000 after purchasing an additional 8,748 shares during the last quarter. TFG Advisers LLC lifted its stake in Prudential Financial by 8.1% during the first quarter. TFG Advisers LLC now owns 8,481 shares of the financial services provider’s stock worth $1,002,000 after purchasing an additional 634 shares during the last quarter. Finally, Achmea Investment Management B.V. bought a new stake in Prudential Financial during the first quarter worth $6,056,000. 57.74% of the stock is currently owned by institutional investors.

Prudential Financial Stock Performance

Shares of Prudential Financial stock opened at $91.92 on Monday. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.68. The business has a 50-day moving average price of $97.62 and a two-hundred day moving average price of $103.69. Prudential Financial, Inc. has a 1-year low of $89.73 and a 1-year high of $124.22. The company has a market cap of $34.19 billion, a P/E ratio of 17.02, a PEG ratio of 1.02 and a beta of 1.40.

Prudential Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Tuesday, August 23rd were paid a $1.20 dividend. The ex-dividend date of this dividend was Monday, August 22nd. This represents a $4.80 annualized dividend and a dividend yield of 5.22%. Prudential Financial’s dividend payout ratio is presently 88.89%.

Wall Street Analysts Forecast Growth

PRU has been the subject of a number of research reports. Piper Sandler dropped their price target on Prudential Financial from $110.00 to $100.00 and set a “neutral” rating for the company in a research note on Friday, July 8th. Barclays dropped their price target 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. JPMorgan Chase & Co. increased their price target on Prudential Financial from $120.00 to $122.00 in a research note on Monday, July 11th. The Goldman Sachs Group dropped their price target on Prudential Financial from $116.00 to $99.00 and set a “neutral” rating for the company in a research note on Monday, June 6th. Finally, Wells Fargo & Company increased their price target on Prudential Financial from $95.00 to $101.00 and gave the company an “equal weight” rating in a research note on Thursday, August 4th. Two analysts have rated the stock with a sell rating and ten have given a hold rating to the company. According to MarketBeat, Prudential Financial presently has an average rating of “Hold” and an average target price of $104.83.

Prudential Financial Company 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.

See Also

Want to see what other hedge funds are holding PRU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Prudential Financial, Inc. (NYSE:PRUGet Rating).

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

Receive News & Ratings for Prudential Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prudential Financial and related companies with MarketBeat.com's FREE daily email newsletter.