Prudential Financial (NYSE:PRU) Sets New 12-Month Low at $88.73

Shares of Prudential Financial, Inc. (NYSE:PRUGet Rating) reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $88.73 and last traded at $88.75, with a volume of 14434 shares trading hands. The stock had previously closed at $90.98.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. upped their price objective on Prudential Financial from $120.00 to $122.00 in a research report on Monday, July 11th. Royal Bank of Canada lowered their price objective on Prudential Financial from $125.00 to $112.00 and set a “sector perform” rating on the stock in a research report on Monday, July 11th. Barclays lowered their price objective on Prudential Financial from $115.00 to $95.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 13th. Piper Sandler lowered their price objective on Prudential Financial from $110.00 to $100.00 and set a “neutral” rating on the stock in a research report on Friday, July 8th. Finally, Evercore ISI lowered their price target on Prudential Financial to $90.00 in a report on Tuesday, August 9th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Prudential Financial currently has an average rating of “Hold” and an average target price of $105.62.

Prudential Financial Price Performance

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 stock has a market capitalization of $32.91 billion, a PE ratio of 16.85, a price-to-earnings-growth ratio of 1.02 and a beta of 1.40. The firm has a 50 day moving average price of $97.51 and a 200 day moving average price of $103.33.

Prudential Financial Announces Dividend

The business also recently disclosed 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 was Monday, August 22nd. This represents a $4.80 annualized dividend and a dividend yield of 5.43%. Prudential Financial’s dividend payout ratio (DPR) is 88.89%.

Institutional Investors Weigh In On Prudential Financial

A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. increased its stake in Prudential Financial by 1.5% in the 1st quarter. BlackRock Inc. now owns 32,183,900 shares of the financial services provider’s stock worth $3,803,171,000 after buying an additional 465,588 shares in the last quarter. Vanguard Group Inc. increased its stake in Prudential Financial by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 31,119,980 shares of the financial services provider’s stock worth $3,677,448,000 after buying an additional 577,475 shares in the last quarter. State Street Corp increased its stake in Prudential Financial by 1.5% in the 1st quarter. State Street Corp now owns 18,782,147 shares of the financial services provider’s stock worth $2,219,486,000 after buying an additional 282,166 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Prudential Financial by 6.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 6,353,887 shares of the financial services provider’s stock worth $750,839,000 after buying an additional 356,957 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Prudential Financial by 4.3% in the 1st quarter. Bank of New York Mellon Corp now owns 3,302,065 shares of the financial services provider’s stock worth $390,205,000 after buying an additional 136,133 shares in the last quarter. Hedge funds and other institutional investors own 57.74% of the company’s stock.

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.

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