Quartz Partners LLC Buys 240 Shares of Prudential Financial, Inc. (NYSE:PRU)

Quartz Partners LLC grew its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 4.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,518 shares of the financial services provider’s stock after acquiring an additional 240 shares during the quarter. Quartz Partners LLC’s holdings in Prudential Financial were worth $654,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. AMF Tjanstepension AB increased its stake in Prudential Financial by 12.5% in the 3rd quarter. AMF Tjanstepension AB now owns 203,197 shares of the financial services provider’s stock valued at $24,642,000 after buying an additional 22,588 shares during the last quarter. Lake Street Advisors Group LLC grew its holdings in shares of Prudential Financial by 6.1% in the third quarter. Lake Street Advisors Group LLC now owns 3,837 shares of the financial services provider’s stock valued at $465,000 after acquiring an additional 219 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Prudential Financial by 21.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 29,489 shares of the financial services provider’s stock worth $3,563,000 after acquiring an additional 5,129 shares during the period. Forsta AP Fonden boosted its position in Prudential Financial by 23.5% in the third quarter. Forsta AP Fonden now owns 153,500 shares of the financial services provider’s stock worth $18,589,000 after purchasing an additional 29,200 shares during the last quarter. Finally, NorthCrest Asset Manangement LLC grew its stake in Prudential Financial by 36.2% in the 3rd quarter. NorthCrest Asset Manangement LLC now owns 2,679 shares of the financial services provider’s stock valued at $324,000 after purchasing an additional 712 shares during the period. Institutional investors own 56.83% of the company’s stock.

Prudential Financial Stock Performance

Shares of PRU opened at $109.45 on Monday. Prudential Financial, Inc. has a 52-week low of $104.44 and a 52-week high of $130.55. The stock’s 50-day simple moving average is $116.88 and its 200 day simple moving average is $119.80. 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 market capitalization of $39.18 billion, a price-to-earnings ratio of 14.65, a price-to-earnings-growth ratio of 0.98 and a beta of 1.31.

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

Prudential Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th will be given a dividend of $1.35 per share. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.30. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.93%. The ex-dividend date of this dividend is Tuesday, February 18th. Prudential Financial’s payout ratio is 72.29%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on PRU shares. Jefferies Financial Group lifted their target price on Prudential Financial from $149.00 to $152.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Wells Fargo & Company boosted their target price on shares of Prudential Financial from $113.00 to $118.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 19th. TD Cowen raised their price target on shares of Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a research note on Wednesday, November 27th. 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 note on Wednesday, February 5th. Finally, BMO Capital Markets assumed coverage on Prudential Financial in a research report on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 target price for the company. One analyst has rated the stock with a sell rating, ten have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Prudential Financial has an average rating of “Hold” and a consensus target price of $125.69.

Prudential Financial 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.