Davis R M Inc. Sells 404 Shares of Prudential Financial, Inc. (NYSE:PRU)

Davis R M Inc. lessened its holdings in Prudential Financial, Inc. (NYSE:PRU) by 15.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 2,220 shares of the financial services provider’s stock after selling 404 shares during the period. Davis R M Inc.’s holdings in Prudential Financial were worth $263,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Savant Capital LLC lifted its holdings in shares of Prudential Financial by 0.6% during the fourth quarter. Savant Capital LLC now owns 14,382 shares of the financial services provider’s stock worth $1,705,000 after purchasing an additional 83 shares during the period. Grove Bank & Trust raised its position 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 purchasing an additional 87 shares during the last quarter. Asset Dedication LLC grew its position in shares of Prudential Financial by 28.4% in the 4th quarter. Asset Dedication LLC now owns 420 shares of the financial services provider’s stock valued at $50,000 after buying an additional 93 shares during the last quarter. RNC Capital Management LLC increased its stake in shares of Prudential Financial by 3.3% in the fourth quarter. RNC Capital Management LLC now owns 2,990 shares of the financial services provider’s stock valued at $354,000 after buying an additional 95 shares during the period. Finally, Hardy Reed LLC raised its position in shares of Prudential Financial by 1.6% during the third quarter. Hardy Reed LLC now owns 6,202 shares of the financial services provider’s stock worth $751,000 after acquiring an additional 98 shares during the last quarter. 56.83% of the stock is owned by institutional investors.

Prudential Financial Stock Performance

Shares of PRU opened at $105.66 on Wednesday. Prudential Financial, Inc. has a 52 week low of $104.45 and a 52 week high of $130.55. 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 $115.04 and a two-hundred day moving average price of $119.64. The firm has a market capitalization of $37.82 billion, a P/E ratio of 14.14, a P/E/G ratio of 0.98 and a beta of 1.28.

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

Prudential Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th will be given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 5.11%. This is an increase from Prudential Financial’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Tuesday, February 18th. Prudential Financial’s dividend payout ratio is presently 72.29%.

Wall Street Analyst Weigh In

Several analysts recently commented on PRU shares. Jefferies Financial Group upped their target price on Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Keefe, Bruyette & Woods decreased their price objective on shares of 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. Piper Sandler dropped their target price on shares of 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 increased their price target on Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a report on Wednesday, November 27th. Finally, Morgan Stanley cut their target price on Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating on the stock in a research report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target 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.