Prudential Financial, Inc. (NYSE:PRU) Stake Boosted by Allworth Financial LP

Allworth Financial LP grew its position in Prudential Financial, Inc. (NYSE:PRU) by 96.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,919 shares of the financial services provider’s stock after buying an additional 5,370 shares during the quarter. Allworth Financial LP’s holdings in Prudential Financial were worth $1,281,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. International Assets Investment Management LLC boosted its stake in Prudential Financial by 4,130.8% in the 3rd quarter. International Assets Investment Management LLC now owns 1,298,257 shares of the financial services provider’s stock worth $157,219,000 after purchasing an additional 1,267,571 shares during the period. Nordea Investment Management AB boosted its position in shares of Prudential Financial by 176.8% in the fourth quarter. Nordea Investment Management AB now owns 1,041,420 shares of the financial services provider’s stock worth $123,804,000 after buying an additional 665,180 shares during the period. FMR LLC raised its position in Prudential Financial by 31.3% during the third quarter. FMR LLC now owns 1,444,288 shares of the financial services provider’s stock valued at $174,903,000 after buying an additional 344,254 shares during the period. Geode Capital Management LLC lifted its stake in Prudential Financial by 4.1% in the 3rd quarter. Geode Capital Management LLC now owns 8,662,679 shares of the financial services provider’s stock worth $1,047,872,000 after acquiring an additional 341,787 shares in the last quarter. Finally, Capital Advisors Inc. OK purchased a new position in Prudential Financial during the 3rd quarter valued at about $30,226,000. 56.83% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential purchased 537,249 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was acquired at an average cost of $27.92 per share, with a total value of $14,999,992.08. Following the completion of the acquisition, the insider now directly owns 4,780,293 shares of the company’s stock, valued at $133,465,780.56. This represents a 12.66 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on PRU shares. BMO Capital Markets initiated coverage on shares of Prudential Financial in a research note on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 price objective on the stock. 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 report on Wednesday, February 12th. Barclays raised their price target on shares of Prudential Financial from $128.00 to $134.00 and gave the company an “equal weight” rating in a report on Wednesday, February 5th. Jefferies Financial Group upped their price target on Prudential Financial from $149.00 to $152.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Finally, Evercore ISI raised shares of Prudential Financial from an “underperform” rating to an “inline” rating and boosted their target price for the stock from $117.00 to $140.00 in a research report on Thursday, November 14th. 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 assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $125.46.

Prudential Financial Stock Up 0.1 %

NYSE PRU opened at $111.71 on Wednesday. Prudential Financial, Inc. has a 1-year low of $104.44 and a 1-year high of $130.55. The company has a market capitalization of $39.77 billion, a price-to-earnings ratio of 14.95, a PEG ratio of 1.00 and a beta of 1.31. The stock’s 50 day moving average is $117.65 and its two-hundred day moving average is $119.70. The company has a current ratio of 0.16, a quick ratio of 0.14 and a debt-to-equity ratio of 0.68.

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 return on equity of 15.86% and a net margin of 4.01%. Equities analysts forecast that Prudential Financial, Inc. will post 14.38 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 paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 4.83%. This is a boost 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 currently 69.61%.

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.