Fort Point Capital Partners LLC Makes New Investment in Prudential Financial, Inc. (NYSE:PRU)

Fort Point Capital Partners LLC purchased a new position in shares of Prudential Financial, Inc. (NYSE:PRUGet Rating) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,266 shares of the financial services provider’s stock, valued at approximately $245,000.

Other large investors have also modified their holdings of the company. Equitec Proprietary Markets LLC acquired a new position in shares of Prudential Financial during the fourth quarter worth about $25,000. Ibex Wealth Advisors acquired a new position in shares of Prudential Financial during the third quarter worth about $28,000. FSB Premier Wealth Management Inc. acquired a new position in shares of Prudential Financial during the fourth quarter worth about $29,000. EverSource Wealth Advisors LLC acquired a new position in shares of Prudential Financial during the fourth quarter worth about $31,000. Finally, Bell Investment Advisors Inc acquired a new position in shares of Prudential Financial during the third quarter worth about $32,000. Institutional investors own 56.77% of the company’s stock.

Shares of Prudential Financial stock traded up $1.76 during trading hours on Wednesday, hitting $102.65. 43,966 shares of the company were exchanged, compared to its average volume of 2,061,614. The business has a 50-day moving average of $112.31 and a 200-day moving average of $111.08. The stock has a market capitalization of $38.49 billion, a price-to-earnings ratio of 8.18, a P/E/G ratio of 0.95 and a beta of 1.48. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.44. Prudential Financial, Inc. has a 1 year low of $94.51 and a 1 year high of $124.22.

Prudential Financial (NYSE:PRUGet Rating) last released its quarterly earnings data on Tuesday, May 3rd. The financial services provider reported $3.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.67 by $0.50. The firm had revenue of $13.66 billion during the quarter, compared to analysts’ expectations of $13.93 billion. Prudential Financial had a return on equity of 9.35% and a net margin of 8.09%. During the same quarter in the prior year, the business posted $4.11 earnings per share. As a group, research analysts anticipate that Prudential Financial, Inc. will post 11.7 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 16th. Shareholders of record on Tuesday, May 24th will be given a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 4.68%. The ex-dividend date is Monday, May 23rd. Prudential Financial’s payout ratio is 38.93%.

PRU has been the subject of a number of research analyst reports. Citigroup initiated coverage on Prudential Financial in a report on Monday. They issued a “neutral” rating and a $100.00 price target for the company. Morgan Stanley boosted their price objective on Prudential Financial from $114.00 to $123.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 22nd. Credit Suisse Group cut Prudential Financial from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $131.00 to $121.00 in a research note on Friday, March 25th. Piper Sandler boosted their price objective on Prudential Financial from $118.00 to $125.00 and gave the company a “neutral” rating in a research note on Wednesday, April 6th. Finally, StockNews.com started coverage on Prudential Financial in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Prudential Financial has an average rating of “Hold” and a consensus target price of $113.43.

In other Prudential Financial news, EVP Andrew F. Sullivan sold 2,231 shares of the company’s stock in a transaction on Friday, March 4th. The stock was sold at an average price of $106.28, for a total value of $237,110.68. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Nicholas C. Silitch sold 2,000 shares of the company’s stock in a transaction on Thursday, March 3rd. The shares were sold at an average price of $109.74, for a total value of $219,480.00. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

Prudential Financial 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

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

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