Addison Advisors LLC Acquires 856 Shares of Prudential Financial, Inc. (NYSE:PRU)

Addison Advisors LLC boosted its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 839.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 958 shares of the financial services provider’s stock after purchasing an additional 856 shares during the period. Addison Advisors LLC’s holdings in Prudential Financial were worth $114,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Savant Capital LLC grew its holdings in shares of Prudential Financial by 0.6% in the 4th quarter. Savant Capital LLC now owns 14,382 shares of the financial services provider’s stock valued at $1,705,000 after buying an additional 83 shares during the period. Grove Bank & Trust lifted its holdings in Prudential Financial by 65.9% during the fourth quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 87 shares in the last quarter. Avidian Wealth Enterprises LLC grew its stake in Prudential Financial by 1.2% in the third quarter. Avidian Wealth Enterprises LLC now owns 7,357 shares of the financial services provider’s stock valued at $891,000 after acquiring an additional 89 shares during the period. Asset Dedication LLC increased its holdings in shares of Prudential Financial by 28.4% in the fourth quarter. Asset Dedication LLC now owns 420 shares of the financial services provider’s stock worth $50,000 after acquiring an additional 93 shares in the last quarter. Finally, RNC Capital Management LLC raised its position in shares of Prudential Financial by 3.3% during the fourth quarter. RNC Capital Management LLC now owns 2,990 shares of the financial services provider’s stock worth $354,000 after purchasing an additional 95 shares during the period. 56.83% of the stock is owned by institutional investors and hedge funds.

Prudential Financial Stock Performance

Shares of NYSE PRU opened at $111.12 on Wednesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.16 and a current ratio of 0.16. The stock has a 50 day moving average price of $116.52 and a 200 day moving average price of $119.83. The stock has a market capitalization of $39.78 billion, a PE ratio of 14.87, a price-to-earnings-growth ratio of 0.98 and a beta of 1.31. Prudential Financial, Inc. has a 52 week low of $104.44 and a 52 week high of $130.55.

Prudential Financial (NYSE:PRU) last released its earnings results on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share for the quarter, missing the consensus estimate of $3.36 by ($0.40). Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. Analysts predict that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th will be issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.86%. This is a boost from Prudential Financial’s previous quarterly dividend of $1.30. The ex-dividend date is Tuesday, February 18th. Prudential Financial’s dividend payout ratio is presently 72.29%.

Analyst Ratings Changes

Several brokerages have commented on PRU. Piper Sandler dropped their target price on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. TD Cowen raised their price objective on shares of Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a report on Wednesday, November 27th. Barclays upped their target price on shares of Prudential Financial from $128.00 to $134.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 5th. Wells Fargo & Company lifted their price target on Prudential Financial from $113.00 to $118.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 19th. Finally, Keefe, Bruyette & Woods reduced their price objective on Prudential Financial from $129.00 to $125.00 and set a “market perform” rating for the company in a research report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target 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.