Forvis Mazars Wealth Advisors LLC Sells 174 Shares of Prudential Financial, Inc. (NYSE:PRU)

Forvis Mazars Wealth Advisors LLC lowered its holdings in Prudential Financial, Inc. (NYSE:PRU) by 3.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,707 shares of the financial services provider’s stock after selling 174 shares during the quarter. Forvis Mazars Wealth Advisors LLC’s holdings in Prudential Financial were worth $676,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PRU. AMF Tjanstepension AB increased its stake in Prudential Financial by 12.5% in the third quarter. AMF Tjanstepension AB now owns 203,197 shares of the financial services provider’s stock valued at $24,642,000 after acquiring an additional 22,588 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in Prudential Financial by 21.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 29,489 shares of the financial services provider’s stock valued at $3,563,000 after acquiring an additional 5,129 shares during the period. NorthCrest Asset Manangement LLC increased its stake in Prudential Financial by 36.2% in the third quarter. NorthCrest Asset Manangement LLC now owns 2,679 shares of the financial services provider’s stock valued at $324,000 after acquiring an additional 712 shares during the period. Arkadios Wealth Advisors increased its stake in Prudential Financial by 8.0% in the third quarter. Arkadios Wealth Advisors now owns 5,423 shares of the financial services provider’s stock valued at $657,000 after acquiring an additional 400 shares during the period. Finally, GHP Investment Advisors Inc. increased its stake in Prudential Financial by 235.4% in the third quarter. GHP Investment Advisors Inc. now owns 379 shares of the financial services provider’s stock valued at $46,000 after acquiring an additional 266 shares during the period. Institutional investors own 56.83% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Piper Sandler decreased their price objective on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Barclays upped their price objective 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. TD Cowen upped their price objective on shares of Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a research note on Wednesday, November 27th. BMO Capital Markets assumed coverage on shares of Prudential Financial in a research note on Thursday, January 23rd. They set an “underperform” rating and a $101.00 price objective on the stock. Finally, Evercore ISI raised shares of Prudential Financial from an “underperform” rating to an “inline” rating and upped their price objective for the stock from $117.00 to $140.00 in a research note on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $125.69.

Prudential Financial Price Performance

Shares of PRU stock opened at $110.54 on Tuesday. The firm’s 50 day moving average is $116.67 and its 200-day moving average is $119.81. Prudential Financial, Inc. has a 1 year low of $104.44 and a 1 year high of $130.55. The firm has a market capitalization of $39.57 billion, a price-to-earnings ratio of 14.80, a PEG ratio of 0.98 and a beta of 1.31. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.68.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data 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%. Sell-side analysts forecast that Prudential Financial, Inc. will post 14.36 EPS 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. Investors of record on Tuesday, February 18th will be issued a $1.35 dividend. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a yield of 4.89%. The ex-dividend date is Tuesday, February 18th. Prudential Financial’s dividend 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.