Centricity Wealth Management LLC Invests $29,000 in Prudential Financial, Inc. (NYSE:PRU)

Centricity Wealth Management LLC acquired a new position in Prudential Financial, Inc. (NYSE:PRU) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 247 shares of the financial services provider’s stock, valued at approximately $29,000.

Other large investors also recently bought and sold shares of the company. Handelsbanken Fonder AB raised its position in Prudential Financial by 9.9% during the 4th quarter. Handelsbanken Fonder AB now owns 65,750 shares of the financial services provider’s stock valued at $7,793,000 after purchasing an additional 5,947 shares in the last quarter. LMG Wealth Partners LLC lifted its holdings in shares of Prudential Financial by 1.5% during the 4th quarter. LMG Wealth Partners LLC now owns 72,024 shares of the financial services provider’s stock valued at $8,537,000 after purchasing an additional 1,081 shares during the last quarter. Bryn Mawr Capital Management LLC boosted its holdings in Prudential Financial by 828.7% in the fourth quarter. Bryn Mawr Capital Management LLC now owns 53,743 shares of the financial services provider’s stock worth $6,370,000 after acquiring an additional 47,956 shares in the last quarter. Convergence Investment Partners LLC grew its position in Prudential Financial by 31.5% during the 4th quarter. Convergence Investment Partners LLC now owns 14,175 shares of the financial services provider’s stock worth $1,680,000 after purchasing an additional 3,396 shares during the last quarter. Finally, Bank of Jackson Hole Trust purchased a new position in Prudential Financial in the 4th quarter worth $413,000. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Prudential Financial Stock Down 1.5 %

Shares of PRU opened at $109.45 on Friday. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.68. The firm has a market cap of $39.18 billion, a P/E ratio of 14.65, a price-to-earnings-growth ratio of 0.99 and a beta of 1.31. The company’s 50-day moving average price is $116.88 and its 200 day moving average price is $119.62. Prudential Financial, Inc. has a 12-month low of $104.44 and a 12-month high of $130.55.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.96 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, sell-side analysts forecast that Prudential Financial, Inc. will post 14.34 earnings per share for the current year.

Prudential Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th will be paid a $1.35 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This is a boost from Prudential Financial’s previous quarterly dividend of $1.30. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.93%. Prudential Financial’s payout ratio is presently 72.29%.

Insider Activity at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential acquired 537,249 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was purchased at an average price of $27.92 per share, for a total transaction of $14,999,992.08. Following the completion of the acquisition, the insider now owns 4,780,293 shares of the company’s stock, valued at approximately $133,465,780.56. This trade represents a 12.66 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

PRU has been the subject of several research reports. TD Cowen lifted their price objective on shares of Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a research note on Wednesday, November 27th. Barclays lifted their price target 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. Evercore ISI raised Prudential Financial from an “underperform” rating to an “inline” rating and increased their target price for the company from $117.00 to $140.00 in a report on Thursday, November 14th. Wells Fargo & Company raised their target price on shares of Prudential Financial from $113.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Finally, BMO Capital Markets initiated coverage on shares of Prudential Financial in a research report on Thursday, January 23rd. They set an “underperform” rating and a $101.00 price target on the stock. One analyst has rated the stock with a sell rating, ten have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Prudential Financial has an average rating of “Hold” and an average target price of $125.69.

Prudential Financial Company Profile

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.