Dorsey & Whitney Trust CO LLC Has $615,000 Position in Prudential Financial, Inc. (NYSE:PRU)

Dorsey & Whitney Trust CO LLC reduced its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 16.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,189 shares of the financial services provider’s stock after selling 1,056 shares during the quarter. Dorsey & Whitney Trust CO LLC’s holdings in Prudential Financial were worth $615,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Glenmede Trust Co. NA grew its position in shares of Prudential Financial by 7.4% in the 3rd quarter. Glenmede Trust Co. NA now owns 17,968 shares of the financial services provider’s stock valued at $2,176,000 after purchasing an additional 1,234 shares during the period. Avanza Fonder AB acquired a new position in shares of Prudential Financial in the 4th quarter valued at approximately $3,423,000. Gateway Investment Advisers LLC grew its position in shares of Prudential Financial by 56.1% in the 4th quarter. Gateway Investment Advisers LLC now owns 21,998 shares of the financial services provider’s stock valued at $2,607,000 after purchasing an additional 7,907 shares during the period. Principal Financial Group Inc. grew its position in shares of Prudential Financial by 3.9% in the 3rd quarter. Principal Financial Group Inc. now owns 419,733 shares of the financial services provider’s stock valued at $50,830,000 after purchasing an additional 15,695 shares during the period. Finally, Janus Henderson Group PLC grew its position in shares of Prudential Financial by 2.3% in the 3rd quarter. Janus Henderson Group PLC now owns 79,256 shares of the financial services provider’s stock valued at $9,597,000 after purchasing an additional 1,765 shares during the period. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Prudential Financial Trading Up 1.1 %

Shares of Prudential Financial stock opened at $111.35 on Monday. Prudential Financial, Inc. has a 12-month low of $104.44 and a 12-month high of $130.55. The business’s 50 day moving average is $115.53 and its 200-day moving average is $119.78. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.68. The stock has a market cap of $39.86 billion, a P/E ratio of 14.91, a P/E/G ratio of 0.98 and a beta of 1.28.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings results 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 net margin of 4.01% and a return on equity of 15.86%. Equities research analysts predict that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Investors 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 yield of 4.85%. The ex-dividend date is Tuesday, February 18th. This is a boost from Prudential Financial’s previous quarterly dividend of $1.30. Prudential Financial’s dividend payout ratio is 72.29%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PRU. Morgan Stanley decreased their price objective on Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating for the company in a research report on Friday, February 28th. Evercore ISI raised Prudential Financial from an “underperform” rating to an “inline” rating and upped their price target for the stock from $117.00 to $140.00 in a research report on Thursday, November 14th. Barclays upped their price target on 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 reduced their price target 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. Finally, Keefe, Bruyette & Woods reduced their price target on Prudential Financial from $129.00 to $125.00 and set a “market perform” rating for the company in a research report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $126.15.

About Prudential Financial

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.