Corient Private Wealth LLC Has $9.19 Million Position in Prudential Financial, Inc. $PRU

Corient Private Wealth LLC lifted its stake in Prudential Financial, Inc. (NYSE:PRU) by 8.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 81,386 shares of the financial services provider’s stock after acquiring an additional 6,585 shares during the quarter. Corient Private Wealth LLC’s holdings in Prudential Financial were worth $9,189,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of PRU. Jessup Wealth Management Inc acquired a new stake in shares of Prudential Financial during the 4th quarter valued at about $25,000. Garton & Associates Financial Advisors LLC acquired a new position in Prudential Financial in the fourth quarter worth approximately $26,000. Salomon & Ludwin LLC raised its position in Prudential Financial by 98.3% during the fourth quarter. Salomon & Ludwin LLC now owns 230 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 114 shares in the last quarter. Lodestone Wealth Management LLC acquired a new stake in Prudential Financial in the fourth quarter valued at approximately $28,000. Finally, Basepoint Wealth LLC bought a new stake in Prudential Financial in the fourth quarter worth approximately $30,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

Prudential Financial Stock Down 2.0%

Shares of PRU opened at $106.27 on Thursday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.16 and a current ratio of 0.16. The company has a 50-day simple moving average of $102.17 and a 200-day simple moving average of $104.28. Prudential Financial, Inc. has a 52 week low of $91.89 and a 52 week high of $119.76. The firm has a market capitalization of $36.88 billion, a P/E ratio of 10.93, a P/E/G ratio of 1.98 and a beta of 0.86.

Prudential Financial (NYSE:PRU) last released its earnings results on Tuesday, May 5th. The financial services provider reported $3.61 earnings per share for the quarter, topping analysts’ consensus estimates of $3.09 by $0.52. Prudential Financial had a return on equity of 16.33% and a net margin of 5.83%.The business had revenue of $15.23 billion for the quarter, compared to the consensus estimate of $14.10 billion. During the same period last year, the business earned $3.29 earnings per share. On average, equities research analysts expect that Prudential Financial, Inc. will post 13.78 earnings per share for the current year.

Prudential Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Tuesday, May 26th were paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date was Tuesday, May 26th. Prudential Financial’s dividend payout ratio is presently 57.61%.

Wall Street Analyst Weigh In

PRU has been the topic of several analyst reports. Piper Sandler increased their price target on shares of Prudential Financial from $105.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday. Bank of America decreased their price objective on shares of Prudential Financial from $112.00 to $104.00 and set a “neutral” rating for the company in a report on Tuesday, April 14th. Zacks Research upgraded Prudential Financial from a “strong sell” rating to a “hold” rating in a report on Friday, June 12th. Keefe, Bruyette & Woods boosted their price target on Prudential Financial from $100.00 to $106.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 13th. Finally, Wells Fargo & Company upped their price target on Prudential Financial from $93.00 to $100.00 and gave the stock an “underweight” rating in a research note on Tuesday, May 12th. Eleven investment analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $101.92.

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.