WASHINGTON TRUST Co lifted its position in Prudential Financial, Inc. (NYSE:PRU – Free Report) by 33.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,258 shares of the financial services provider’s stock after buying an additional 315 shares during the quarter. WASHINGTON TRUST Co’s holdings in Prudential Financial were worth $147,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of PRU. Vanguard Group Inc. raised its holdings in shares of Prudential Financial by 13.9% in the 4th quarter. Vanguard Group Inc. now owns 42,292,853 shares of the financial services provider’s stock valued at $4,386,192,000 after buying an additional 5,154,865 shares during the period. Norges Bank purchased a new stake in Prudential Financial during the 4th quarter worth about $113,478,000. Dimensional Fund Advisors LP increased its holdings in Prudential Financial by 10.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,000,665 shares of the financial services provider’s stock worth $414,926,000 after purchasing an additional 388,363 shares during the period. Swedbank AB purchased a new stake in Prudential Financial during the 1st quarter worth about $35,855,000. Finally, abrdn plc increased its holdings in Prudential Financial by 37.5% during the 4th quarter. abrdn plc now owns 1,107,210 shares of the financial services provider’s stock worth $114,829,000 after purchasing an additional 302,164 shares during the period. Hedge funds and other institutional investors own 56.83% of the company’s stock.
Insider Activity at Prudential Financial
In related news, major shareholder Insurance Co Of Ame Prudential bought 652,884 shares of the stock in a transaction on Thursday, June 20th. The shares were bought at an average cost of $27.57 per share, for a total transaction of $18,000,011.88. Following the purchase, the insider now owns 3,883,390 shares of the company’s stock, valued at approximately $107,065,062.30. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.31% of the company’s stock.
Wall Street Analysts Forecast Growth
Read Our Latest Analysis on PRU
Prudential Financial Stock Performance
Shares of NYSE PRU traded up $0.75 during trading hours on Tuesday, reaching $109.15. The stock had a trading volume of 748,291 shares, compared to its average volume of 1,495,280. The firm has a market cap of $38.97 billion, a price-to-earnings ratio of 18.49, a PEG ratio of 0.83 and a beta of 1.34. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.65. Prudential Financial, Inc. has a fifty-two week low of $87.95 and a fifty-two week high of $128.52. The firm has a 50-day moving average of $118.18 and a 200-day moving average of $114.34.
Prudential Financial Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Tuesday, August 20th will be given a $1.30 dividend. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.76%. Prudential Financial’s dividend payout ratio (DPR) is presently 88.44%.
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.
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