Prudential Financial (NYSE:PRU) Sets New 12-Month Low - Here's Why

Prudential Financial, Inc. (NYSE:PRU - Get Free Report) shares reached a new 52-week low during trading on Friday . The stock traded as low as $99.00 and last traded at $100.69, with a volume of 8339 shares. The stock had previously closed at $104.79.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on PRU shares. UBS Group dropped their target price on Prudential Financial from $130.00 to $122.00 and set a "neutral" rating for the company in a report on Wednesday, April 2nd. Jefferies Financial Group lifted their target price on shares of Prudential Financial from $149.00 to $152.00 and gave the stock a "buy" rating in a research note on Tuesday, December 10th. Piper Sandler cut their price target on shares of Prudential Financial from $124.00 to $122.00 and set a "neutral" rating on the stock in a report on Wednesday, April 2nd. Barclays upped their price objective on shares of Prudential Financial from $128.00 to $134.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 5th. Finally, Morgan Stanley lowered their price target on Prudential Financial from $136.00 to $128.00 and set an "equal weight" rating for the company in a research report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $125.69.

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Prudential Financial Trading Up 5.7 %

The company has a market cap of $35.62 billion, a P/E ratio of 13.46, a price-to-earnings-growth ratio of 0.98 and a beta of 1.11. The stock has a 50-day moving average of $110.46 and a two-hundred day moving average of $118.09. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.16 and a current ratio of 0.16.

Prudential Financial (NYSE:PRU - Get Free Report) last issued its earnings results on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.36 by ($0.40). Prudential Financial had a return on equity of 15.86% and a net margin of 4.01%. On average, equities research analysts predict that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th were paid a dividend of $1.35 per share. The ex-dividend date was Tuesday, February 18th. This is a positive change from Prudential Financial's previous quarterly dividend of $1.30. This represents a $5.40 dividend on an annualized basis and a yield of 5.37%. Prudential Financial's payout ratio is currently 72.29%.

Insider Activity

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential acquired 52,595 shares of the business's stock in a transaction dated Tuesday, March 25th. The stock was purchased at an average price of $28.52 per share, with a total value of $1,500,009.40. Following the transaction, the insider now directly owns 139,987 shares in the company, valued at approximately $3,992,429.24. The trade was a 60.18 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Andrew F. Sullivan sold 6,000 shares of the business's stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $105.98, for a total value of $635,880.00. Following the sale, the executive vice president now directly owns 27,072 shares of the company's stock, valued at $2,869,090.56. This represents a 18.14 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.31% of the company's stock.

Institutional Trading of Prudential Financial

A number of hedge funds and other institutional investors have recently modified their holdings of PRU. Vanguard Group Inc. raised its holdings in Prudential Financial by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 41,850,558 shares of the financial services provider's stock valued at $4,960,547,000 after acquiring an additional 220,671 shares during the period. Geode Capital Management LLC boosted its stake in Prudential Financial by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 8,856,360 shares of the financial services provider's stock worth $1,050,635,000 after purchasing an additional 193,681 shares during the period. Northern Trust Corp grew its holdings in Prudential Financial by 23.7% during the 4th quarter. Northern Trust Corp now owns 4,686,690 shares of the financial services provider's stock valued at $555,513,000 after buying an additional 897,916 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Prudential Financial by 11.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,410,363 shares of the financial services provider's stock valued at $404,230,000 after buying an additional 352,335 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Prudential Financial by 0.3% in the fourth quarter. Bank of New York Mellon Corp now owns 2,454,278 shares of the financial services provider's stock worth $290,906,000 after buying an additional 6,938 shares in the last quarter. 56.83% of the stock is owned by hedge funds and other institutional investors.

About Prudential Financial

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 PGIM, Retirement Strategies, Group Insurance, Individual Life, and International Businesses segments.