Prudential Financial, Inc. (NYSE:PRU) Shares Sold by Mission Wealth Management LP

Mission Wealth Management LP trimmed its position in Prudential Financial, Inc. (NYSE:PRU) by 12.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,601 shares of the financial services provider’s stock after selling 1,341 shares during the quarter. Mission Wealth Management LP’s holdings in Prudential Financial were worth $1,138,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Savant Capital LLC boosted its holdings in shares of Prudential Financial by 0.6% in the fourth quarter. Savant Capital LLC now owns 14,382 shares of the financial services provider’s stock worth $1,705,000 after buying an additional 83 shares during the period. Grove Bank & Trust boosted its holdings in shares of Prudential Financial by 65.9% in the fourth quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock worth $26,000 after buying an additional 87 shares during the period. Avidian Wealth Enterprises LLC boosted its holdings in shares of Prudential Financial by 1.2% in the third quarter. Avidian Wealth Enterprises LLC now owns 7,357 shares of the financial services provider’s stock worth $891,000 after buying an additional 89 shares during the period. Asset Dedication LLC boosted its holdings in shares of Prudential Financial by 28.4% in the fourth quarter. Asset Dedication LLC now owns 420 shares of the financial services provider’s stock worth $50,000 after buying an additional 93 shares during the period. Finally, RNC Capital Management LLC boosted its holdings in shares of Prudential Financial by 3.3% during the fourth quarter. RNC Capital Management LLC now owns 2,990 shares of the financial services provider’s stock worth $354,000 after purchasing an additional 95 shares during the period. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PRU. Evercore ISI upgraded shares of Prudential Financial from an “underperform” rating to an “inline” rating and raised their price target for the stock from $117.00 to $140.00 in a report on Thursday, November 14th. Barclays raised their price target on shares of Prudential Financial from $128.00 to $134.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 5th. Morgan Stanley decreased their price target on shares of Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating for the company in a report on Friday, February 28th. 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. Finally, Jefferies Financial Group raised their price objective on shares of Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. One analyst has rated the stock with a sell rating, ten have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $126.15.

Prudential Financial Price Performance

Shares of Prudential Financial stock opened at $109.51 on Wednesday. The firm has a fifty day simple moving average of $116.05 and a 200-day simple moving average of $119.86. 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, Inc. has a 1-year low of $104.44 and a 1-year high of $130.55. The stock has a market capitalization of $39.21 billion, a price-to-earnings ratio of 14.66, a PEG ratio of 0.98 and a beta of 1.31.

Prudential Financial (NYSE:PRU) last issued 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 return on equity of 15.86% and a net margin of 4.01%. On average, sell-side analysts expect that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Tuesday, February 18th will be paid a dividend of $1.35 per share. This is a boost from Prudential Financial’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a yield of 4.93%. The ex-dividend date is Tuesday, February 18th. Prudential Financial’s dividend payout ratio is presently 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.