Prudential Financial, Inc. (NYSE:PRU) Shares Sold by Avantax Planning Partners Inc.

Avantax Planning Partners Inc. lessened its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 2.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 12,449 shares of the financial services provider’s stock after selling 317 shares during the quarter. Avantax Planning Partners Inc.’s holdings in Prudential Financial were worth $1,476,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Miller Financial Services LLC acquired a new stake in Prudential Financial during the 4th quarter worth approximately $229,000. King Luther Capital Management Corp increased its position in Prudential Financial by 4.0% during the 4th quarter. King Luther Capital Management Corp now owns 14,158 shares of the financial services provider’s stock worth $1,678,000 after purchasing an additional 549 shares in the last quarter. Independent Advisor Alliance increased its position in Prudential Financial by 9.8% during the 4th quarter. Independent Advisor Alliance now owns 18,108 shares of the financial services provider’s stock worth $2,146,000 after purchasing an additional 1,617 shares in the last quarter. Johnson Investment Counsel Inc. increased its position in Prudential Financial by 2.7% during the 4th quarter. Johnson Investment Counsel Inc. now owns 7,640 shares of the financial services provider’s stock worth $906,000 after purchasing an additional 201 shares in the last quarter. Finally, Daiwa Securities Group Inc. increased its position in Prudential Financial by 6.3% during the 4th quarter. Daiwa Securities Group Inc. now owns 46,915 shares of the financial services provider’s stock worth $5,561,000 after purchasing an additional 2,772 shares in the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PRU. Evercore ISI upgraded Prudential Financial from an “underperform” rating to an “inline” rating and upped their price target for the stock from $117.00 to $140.00 in a report on Thursday, November 14th. Morgan Stanley decreased their price target on Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating for the company in a report on Friday, February 28th. BMO Capital Markets began coverage on Prudential Financial in a report on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 price target for the company. Barclays upped their price target on Prudential Financial from $128.00 to $134.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 5th. Finally, TD Cowen upped their price target on Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a report on Wednesday, November 27th. One 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $126.15.

Prudential Financial Stock Down 0.6 %

PRU stock opened at $105.66 on Wednesday. Prudential Financial, Inc. has a twelve month low of $104.45 and a twelve month high of $130.55. 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 company has a market capitalization of $37.82 billion, a P/E ratio of 14.14, a PEG ratio of 0.98 and a beta of 1.28. The firm has a 50 day simple moving average of $115.04 and a 200-day simple moving average of $119.64.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.96 EPS for the quarter, missing analysts’ consensus estimates 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 fiscal year.

Prudential Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders 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 yield of 5.11%. The ex-dividend date is Tuesday, February 18th. This is an increase from Prudential Financial’s previous quarterly dividend of $1.30. Prudential Financial’s payout ratio is currently 72.29%.

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.