IFP Advisors Inc Purchases 1,722 Shares of Prudential Financial, Inc. (NYSE:PRU)

IFP Advisors Inc increased its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 44.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,638 shares of the financial services provider’s stock after buying an additional 1,722 shares during the period. IFP Advisors Inc’s holdings in Prudential Financial were worth $673,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. AMF Tjanstepension AB raised its stake in Prudential Financial by 12.5% during the 3rd quarter. AMF Tjanstepension AB now owns 203,197 shares of the financial services provider’s stock valued at $24,642,000 after purchasing an additional 22,588 shares during the last quarter. Pinnacle Associates Ltd. raised its stake in Prudential Financial by 0.6% during the 3rd quarter. Pinnacle Associates Ltd. now owns 15,775 shares of the financial services provider’s stock valued at $1,910,000 after purchasing an additional 99 shares during the last quarter. Stephens Inc. AR raised its stake in Prudential Financial by 5.6% during the 3rd quarter. Stephens Inc. AR now owns 102,648 shares of the financial services provider’s stock valued at $12,431,000 after purchasing an additional 5,480 shares during the last quarter. Gladstone Institutional Advisory LLC raised its stake in Prudential Financial by 2.4% during the 3rd quarter. Gladstone Institutional Advisory LLC now owns 4,686 shares of the financial services provider’s stock valued at $568,000 after purchasing an additional 109 shares during the last quarter. Finally, Capital Advisors Inc. OK acquired a new position in Prudential Financial during the 3rd quarter valued at $30,226,000. 56.83% of the stock is owned by institutional investors.

Prudential Financial Stock Up 2.1 %

PRU opened at $115.07 on Friday. The firm’s 50-day simple moving average is $116.35 and its 200-day simple moving average is $119.77. 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 twelve month low of $104.44 and a twelve month high of $130.55. The firm has a market cap of $41.20 billion, a price-to-earnings ratio of 15.40, a PEG ratio of 0.98 and a beta of 1.31.

Prudential Financial (NYSE:PRU) last posted 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 return on equity of 15.86% and a net margin of 4.01%. Equities research analysts anticipate that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Increases Dividend

The business 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 dividend of $1.35 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $5.40 dividend on an annualized basis and a yield of 4.69%. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.30. Prudential Financial’s dividend payout ratio is currently 72.29%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Piper Sandler cut 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 note on Thursday, January 16th. Barclays increased their price objective on shares of Prudential Financial from $128.00 to $134.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 5th. Wells Fargo & Company increased their price objective on shares of Prudential Financial from $113.00 to $118.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 19th. TD Cowen increased their price objective on shares of Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a research note on Wednesday, November 27th. Finally, Evercore ISI upgraded shares of Prudential Financial from an “underperform” rating to an “inline” rating and increased their price objective for the company 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 assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $126.15.

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.