Private Trust Co. NA Acquires 315 Shares of Prudential Financial, Inc. (NYSE:PRU)

Private Trust Co. NA lifted its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 7.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 4,407 shares of the financial services provider’s stock after purchasing an additional 315 shares during the period. Private Trust Co. NA’s holdings in Prudential Financial were worth $522,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Grove Bank & Trust grew its holdings in shares of Prudential Financial by 65.9% during the 4th quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 87 shares during the last quarter. Centricity Wealth Management LLC bought a new stake in Prudential Financial in the 4th quarter worth $29,000. Ashton Thomas Securities LLC bought a new stake in Prudential Financial in the 3rd quarter worth $31,000. CGC Financial Services LLC grew its holdings in Prudential Financial by 82.1% in the 4th quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 124 shares during the last quarter. Finally, Wingate Wealth Advisors Inc. bought a new stake in Prudential Financial in the 4th quarter worth $33,000. Institutional investors own 56.83% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on PRU shares. TD Cowen raised their price target 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. Piper Sandler dropped their target price on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. BMO Capital Markets assumed coverage on shares of Prudential Financial in a research report on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 target price for the company. 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 report on Wednesday, February 19th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of 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 equities research analyst has rated the stock with a sell rating, ten have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $126.15.

Prudential Financial Stock Up 2.1 %

NYSE:PRU opened at $115.07 on Friday. The firm has a market cap of $41.20 billion, a P/E ratio of 15.40, a P/E/G ratio of 0.98 and a beta of 1.31. 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, Inc. has a fifty-two week low of $104.44 and a fifty-two week high of $130.55. The firm has a 50-day simple moving average of $116.35 and a two-hundred day simple moving average of $119.84.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share for the quarter, missing analysts’ consensus estimates 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 business also recently declared 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 positive change 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 4.69%. Prudential Financial’s payout ratio is currently 72.29%.

Prudential Financial 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.