Raab & Moskowitz Asset Management LLC Has $871,000 Stake in Prudential Financial, Inc. (NYSE:PRU)

Raab & Moskowitz Asset Management LLC cut its position in Prudential Financial, Inc. (NYSE:PRU) by 1.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,350 shares of the financial services provider’s stock after selling 98 shares during the quarter. Raab & Moskowitz Asset Management LLC’s holdings in Prudential Financial were worth $871,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. International Assets Investment Management LLC raised its stake in shares of Prudential Financial by 4,130.8% during the third quarter. International Assets Investment Management LLC now owns 1,298,257 shares of the financial services provider’s stock valued at $157,219,000 after acquiring an additional 1,267,571 shares during the last quarter. Nordea Investment Management AB increased its holdings in Prudential Financial by 176.8% in the fourth quarter. Nordea Investment Management AB now owns 1,041,420 shares of the financial services provider’s stock valued at $123,804,000 after purchasing an additional 665,180 shares during the period. FMR LLC raised its position in Prudential Financial by 31.3% during the 3rd quarter. FMR LLC now owns 1,444,288 shares of the financial services provider’s stock worth $174,903,000 after purchasing an additional 344,254 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Prudential Financial by 4.1% during the 3rd quarter. Geode Capital Management LLC now owns 8,662,679 shares of the financial services provider’s stock worth $1,047,872,000 after buying an additional 341,787 shares during the period. Finally, Capital Advisors Inc. OK bought a new stake in shares of Prudential Financial in the 3rd quarter valued at about $30,226,000. 56.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PRU has been the topic of a number of recent analyst reports. Jefferies Financial Group lifted their price objective on Prudential Financial from $149.00 to $152.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Barclays boosted their price target on shares of Prudential Financial from $128.00 to $134.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 5th. Piper Sandler decreased their price objective 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 started coverage on shares of Prudential Financial in a report on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 target price on the stock. Finally, Evercore ISI upgraded Prudential Financial from an “underperform” rating to an “inline” rating and increased their price target for the stock from $117.00 to $140.00 in a report on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $125.46.

Prudential Financial Stock Performance

Shares of Prudential Financial stock opened at $110.82 on Thursday. The business has a 50-day simple moving average of $118.78 and a 200 day simple moving average of $120.07. Prudential Financial, Inc. has a one year low of $104.02 and a one year high of $130.55. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.16 and a quick ratio of 0.14. The firm has a market capitalization of $39.45 billion, a price-to-earnings ratio of 14.84, a PEG ratio of 1.00 and a beta of 1.31.

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 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%. On average, research analysts anticipate that Prudential Financial, Inc. will post 14.38 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 paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.87%. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Tuesday, February 18th. Prudential Financial’s dividend payout ratio (DPR) is 69.61%.

Insider Activity

In related news, major shareholder Insurance Co Of Ame Prudential bought 537,249 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were bought at an average price of $27.92 per share, with a total value of $14,999,992.08. Following the completion of the transaction, the insider now directly owns 4,780,293 shares in the company, valued at approximately $133,465,780.56. This represents a 12.66 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.31% of the company’s stock.

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.