Prudential Financial, Inc. $PRU Shares Acquired by Fideuram Intesa Sanpaolo Private Banking S.P.A.

Fideuram Intesa Sanpaolo Private Banking S.P.A. increased its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 268.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,500 shares of the financial services provider’s stock after buying an additional 14,942 shares during the period. Fideuram Intesa Sanpaolo Private Banking S.P.A.’s holdings in Prudential Financial were worth $2,003,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Jessup Wealth Management Inc acquired a new stake in shares of Prudential Financial in the fourth quarter valued at about $25,000. Garton & Associates Financial Advisors LLC purchased a new stake in shares of Prudential Financial during the fourth quarter worth about $26,000. Salomon & Ludwin LLC raised its position in shares of Prudential Financial by 98.3% during the 4th quarter. Salomon & Ludwin LLC now owns 230 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 114 shares during the last quarter. SJS Investment Consulting Inc. lifted its stake in Prudential Financial by 93.1% in the 1st quarter. SJS Investment Consulting Inc. now owns 278 shares of the financial services provider’s stock valued at $27,000 after buying an additional 134 shares in the last quarter. Finally, Lodestone Wealth Management LLC acquired a new stake in Prudential Financial in the 4th quarter worth about $28,000. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on PRU shares. Mizuho boosted 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. Piper Sandler lifted 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. 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. Bank of America reduced their price objective on Prudential Financial from $112.00 to $104.00 and set a “neutral” rating for the company in a research note on Tuesday, April 14th. Finally, Argus lowered Prudential Financial from a “buy” rating to a “hold” rating in a report on Tuesday, June 9th. Eleven investment analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $101.92.

Prudential Financial Trading Down 0.1%

Shares of Prudential Financial stock opened at $112.83 on Friday. The stock has a 50 day moving average of $103.68 and a 200 day moving average of $104.15. 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 firm has a market capitalization 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, Inc. has a fifty-two week low of $91.89 and a fifty-two week high of $119.76.

Prudential Financial (NYSE:PRU) last posted its 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 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 quarter in the previous year, the business earned $3.29 earnings per share. As a group, research analysts predict that Prudential Financial, Inc. will post 13.81 earnings per share for the current year.

Prudential Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Tuesday, May 26th were issued a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 5.0%. The ex-dividend date was Tuesday, May 26th. Prudential Financial’s payout ratio is 57.61%.

Prudential Financial Company 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.