BlueStem Wealth Partners LLC Makes New Investment in Prudential Financial, Inc. (NYSE:PRU)

BlueStem Wealth Partners LLC bought a new position in shares of Prudential Financial, Inc. (NYSE:PRU) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,597 shares of the financial services provider’s stock, valued at approximately $426,000.

Other institutional investors also recently bought and sold shares of the company. Grove Bank & Trust boosted its position in Prudential Financial by 65.9% during the fourth quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 87 shares in the last quarter. Centricity Wealth Management LLC purchased a new stake in Prudential Financial during the fourth quarter worth $29,000. Ashton Thomas Securities LLC purchased a new stake in Prudential Financial during the third quarter worth $31,000. CGC Financial Services LLC lifted its position 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 acquiring an additional 124 shares in the last quarter. Finally, Wingate Wealth Advisors Inc. purchased a new stake in shares of Prudential Financial in the fourth quarter valued at $33,000. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on PRU shares. Wells Fargo & Company upped their price objective on Prudential Financial from $113.00 to $118.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 19th. Piper Sandler reduced their price objective on Prudential Financial from $127.00 to $124.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Jefferies Financial Group upped their price objective on Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. TD Cowen upped their price objective on Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a research report on Wednesday, November 27th. Finally, Barclays upped their price objective on Prudential Financial from $128.00 to $134.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Prudential Financial presently has an average rating of “Hold” and an average price target of $126.15.

Prudential Financial Stock Performance

Prudential Financial stock opened at $115.07 on Friday. The firm has a market capitalization of $41.20 billion, a P/E ratio of 15.40, a PEG ratio of 0.98 and a beta of 1.31. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.68. The stock has a fifty day moving average price of $116.35 and a 200 day moving average price of $119.84. Prudential Financial, Inc. has a 52 week low of $104.44 and a 52 week high of $130.55.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Tuesday, February 4th. The financial services provider reported $2.96 EPS for the quarter, missing the consensus estimate of $3.36 by ($0.40). Prudential Financial had a return on equity of 15.86% and a net margin of 4.01%. Equities research analysts anticipate that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th will be paid a dividend of $1.35 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a yield of 4.69%. Prudential Financial’s dividend payout ratio is currently 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.