OFI Invest Asset Management Buys Shares of 1,572 Prudential Financial, Inc. (NYSE:PRU)

OFI Invest Asset Management bought a new stake in Prudential Financial, Inc. (NYSE:PRU) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,572 shares of the financial services provider’s stock, valued at approximately $180,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Grove Bank & Trust grew its stake in Prudential Financial by 65.9% in the fourth quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 87 shares during the period. Centricity Wealth Management LLC acquired a new position in Prudential Financial in the fourth quarter valued at about $29,000. Ashton Thomas Securities LLC acquired a new position in Prudential Financial in the third quarter valued at about $31,000. CGC Financial Services LLC lifted its holdings in shares of Prudential Financial by 82.1% in the fourth quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 124 shares in the last quarter. Finally, Wingate Wealth Advisors Inc. bought a new stake in shares of Prudential Financial in the fourth quarter valued at about $33,000. 56.83% of the stock is owned by institutional investors and hedge funds.

Prudential Financial Price Performance

NYSE:PRU opened at $106.28 on Tuesday. 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’s 50 day moving average price is $115.30 and its two-hundred day moving average price is $119.72. The firm has a market capitalization of $38.05 billion, a price-to-earnings ratio of 14.23, a P/E/G ratio of 0.98 and a beta of 1.28. Prudential Financial, Inc. has a 12-month low of $104.45 and a 12-month high of $130.55.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share (EPS) 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%. On average, analysts anticipate that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th will be paid a $1.35 dividend. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.30. The ex-dividend date is Tuesday, February 18th. This represents a $5.40 annualized dividend and a yield of 5.08%. Prudential Financial’s dividend payout ratio is currently 72.29%.

Analysts Set New Price Targets

A number of brokerages have recently commented on PRU. Piper Sandler cut their price target on Prudential Financial from $127.00 to $124.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. TD Cowen boosted their price target on Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a report on Wednesday, November 27th. Morgan Stanley cut their price target on Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating on the stock in a report on Friday, February 28th. Jefferies Financial Group boosted their price target on Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Finally, BMO Capital Markets initiated coverage on Prudential Financial in a report on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 price target on the stock. One research analyst has rated the stock with a sell rating, ten have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Prudential Financial presently has an average 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.