Prudential Financial, Inc. $PRU Shares Bought by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP boosted its position in Prudential Financial, Inc. (NYSE:PRU) by 4.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,758,545 shares of the financial services provider’s stock after purchasing an additional 166,641 shares during the period. Dimensional Fund Advisors LP’s holdings in Prudential Financial were worth $367,089,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Jessup Wealth Management Inc acquired a new stake in shares of Prudential Financial during the fourth quarter valued at $25,000. Garton & Associates Financial Advisors LLC purchased a new stake in shares of Prudential Financial during the 4th quarter valued at about $26,000. Salomon & Ludwin LLC lifted its holdings in Prudential Financial by 98.3% in the 4th quarter. Salomon & Ludwin LLC now owns 230 shares of the financial services provider’s stock worth $27,000 after buying an additional 114 shares in the last quarter. Lodestone Wealth Management LLC purchased a new position in shares of Prudential Financial during the 4th quarter valued at approximately $28,000. Finally, Basepoint Wealth LLC acquired a new position in Prudential Financial in the fourth quarter worth about $30,000. 56.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Jefferies Financial Group upped their target price on Prudential Financial from $105.00 to $110.00 and gave the company a “hold” rating in a report on Friday, July 10th. Piper Sandler boosted their price target on shares of Prudential Financial from $105.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, June 24th. BMO Capital Markets decreased their target price on Prudential Financial from $91.00 to $87.00 and set an “underperform” rating for the company in a research report on Thursday, April 23rd. Zacks Research upgraded shares of Prudential Financial from a “strong sell” rating to a “hold” rating in a research report on Friday, June 12th. Finally, Mizuho increased their price objective on Prudential Financial from $101.00 to $109.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. One research analyst has rated the stock with a Buy rating, ten have given a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat.com, Prudential Financial currently has a consensus rating of “Reduce” and a consensus target price of $104.75.

Prudential Financial Trading Up 0.4%

Shares of Prudential Financial stock opened at $118.47 on Wednesday. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.58. Prudential Financial, Inc. has a 12-month low of $91.89 and a 12-month high of $120.53. The business’s 50 day moving average is $107.93 and its 200-day moving average is $104.18. The stock has a market cap of $41.11 billion, a P/E ratio of 12.19, a P/E/G ratio of 2.35 and a beta of 0.85.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $3.61 EPS for the quarter, beating analysts’ consensus estimates of $3.09 by $0.52. The business had revenue of $15.23 billion for the quarter, compared to analyst estimates of $14.10 billion. Prudential Financial had a net margin of 5.83% and a return on equity of 16.33%. During the same quarter in the prior year, the business earned $3.29 EPS. Equities research analysts predict that Prudential Financial, Inc. will post 13.81 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Tuesday, May 26th were issued a dividend of $1.40 per share. The ex-dividend date of this dividend was Tuesday, May 26th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 4.7%. Prudential Financial’s payout ratio is 57.61%.

About Prudential Financial

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential’s long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential’s core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.