Leonteq Securities AG Purchases 5,616 Shares of Prudential Financial, Inc. $PRU

Leonteq Securities AG raised its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 186.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,634 shares of the financial services provider’s stock after purchasing an additional 5,616 shares during the quarter. Leonteq Securities AG’s holdings in Prudential Financial were worth $843,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Sunflower Bank N.A. raised its position in shares of Prudential Financial by 3.2% during the 4th quarter. Sunflower Bank N.A. now owns 2,911 shares of the financial services provider’s stock valued at $329,000 after purchasing an additional 91 shares during the period. Wetzel Investment Advisors Inc. boosted its holdings in Prudential Financial by 0.9% in the 4th quarter. Wetzel Investment Advisors Inc. now owns 10,022 shares of the financial services provider’s stock worth $1,131,000 after buying an additional 94 shares during the period. CIBC Private Wealth Group LLC increased its stake in Prudential Financial by 0.3% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 28,795 shares of the financial services provider’s stock worth $2,987,000 after buying an additional 97 shares in the last quarter. Transcend Capital Advisors LLC raised its holdings in Prudential Financial by 2.4% during the fourth quarter. Transcend Capital Advisors LLC now owns 4,175 shares of the financial services provider’s stock valued at $471,000 after acquiring an additional 98 shares during the period. Finally, Mindset Wealth Management LLC lifted its position in shares of Prudential Financial by 2.1% in the third quarter. Mindset Wealth Management LLC now owns 4,781 shares of the financial services provider’s stock valued at $496,000 after acquiring an additional 100 shares in the last quarter. 56.83% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on PRU shares. Mizuho upped their price objective on Prudential Financial from $96.00 to $101.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Weiss Ratings raised Prudential Financial from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, June 12th. Piper Sandler upped their price target on Prudential Financial from $105.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 24th. Jefferies Financial Group cut shares of Prudential Financial from a “buy” rating to a “hold” rating and reduced their price objective for the company from $124.00 to $98.00 in a research report on Wednesday, April 22nd. Finally, Zacks Research raised shares of Prudential Financial from a “strong sell” rating to a “hold” rating in a report on Friday, June 12th. Eleven equities research analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $101.92.

Prudential Financial Trading Down 0.1%

Shares of Prudential Financial stock opened at $112.83 on Friday. Prudential Financial, Inc. has a twelve month low of $91.89 and a twelve month high of $119.76. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.58. The business has a 50-day moving average price of $103.68 and a 200-day moving average price of $104.15. The firm has a market cap of $39.15 billion, a price-to-earnings ratio of 11.61, a PEG ratio of 2.06 and a beta of 0.85.

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

Prudential Financial Announces Dividend

The company also recently disclosed 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. This represents a $5.60 annualized dividend and a dividend yield of 5.0%. The ex-dividend date of this dividend was Tuesday, May 26th. Prudential Financial’s dividend payout ratio is 57.61%.

Prudential Financial Profile

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.