Steward Partners Investment Advisory LLC Has $4.80 Million Position in Prudential Financial, Inc. (NYSE:PRU)

Steward Partners Investment Advisory LLC boosted its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 2.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 40,478 shares of the financial services provider’s stock after buying an additional 1,133 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Prudential Financial were worth $4,798,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Grove Bank & Trust lifted its holdings in Prudential Financial by 65.9% during the 4th 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. Centricity Wealth Management LLC bought a new position in shares of Prudential Financial in the 4th quarter worth about $29,000. Ashton Thomas Securities LLC bought a new position in shares of Prudential Financial in the 3rd quarter worth about $31,000. CGC Financial Services LLC raised its position in shares of Prudential Financial by 82.1% in the 4th quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 124 shares in the last quarter. Finally, Wingate Wealth Advisors Inc. bought a new position in shares of Prudential Financial in the 4th quarter worth about $33,000. 56.83% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PRU has been the subject of several research analyst reports. Wells Fargo & Company lifted their price objective on Prudential Financial from $113.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 19th. BMO Capital Markets initiated coverage on Prudential Financial in a research report on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 price objective for the company. TD Cowen lifted their price objective on Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a research report on Wednesday, November 27th. Jefferies Financial Group boosted their target price on Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Finally, Piper Sandler decreased their target price on Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. One 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 company’s stock. According to MarketBeat.com, Prudential Financial presently has an average rating of “Hold” and a consensus price target of $126.15.

Prudential Financial Stock Performance

Shares of PRU opened at $110.11 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.16 and a current ratio of 0.16. The stock has a 50 day moving average price of $115.69 and a two-hundred day moving average price of $119.73. The firm has a market capitalization of $39.42 billion, a P/E ratio of 14.74, a P/E/G ratio of 0.98 and a beta of 1.31. Prudential Financial, Inc. has a 52 week low of $104.44 and a 52 week high of $130.55.

Prudential Financial (NYSE:PRU) last issued 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%. Equities analysts forecast that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders 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 4.90%. 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 presently 72.29%.

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.