Lake Street Advisors Group LLC Lowers Holdings in Prudential Financial, Inc. (NYSE:PRU)

Lake Street Advisors Group LLC decreased its holdings in Prudential Financial, Inc. (NYSE:PRU) by 3.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,719 shares of the financial services provider’s stock after selling 118 shares during the period. Lake Street Advisors Group LLC’s holdings in Prudential Financial were worth $441,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AMF Tjanstepension AB grew its position in shares of Prudential Financial by 12.5% during the third quarter. AMF Tjanstepension AB now owns 203,197 shares of the financial services provider’s stock valued at $24,642,000 after purchasing an additional 22,588 shares in the last quarter. Valmark Advisers Inc. increased its holdings in shares of Prudential Financial by 16.9% in the 3rd quarter. Valmark Advisers Inc. now owns 3,630 shares of the financial services provider’s stock worth $440,000 after buying an additional 524 shares during the last quarter. Pathway Financial Advisers LLC raised its position in shares of Prudential Financial by 5.4% during the 3rd quarter. Pathway Financial Advisers LLC now owns 9,103 shares of the financial services provider’s stock valued at $1,102,000 after buying an additional 464 shares in the last quarter. First Trust Direct Indexing L.P. grew its position in Prudential Financial by 3.5% in the third quarter. First Trust Direct Indexing L.P. now owns 18,482 shares of the financial services provider’s stock worth $2,238,000 after acquiring an additional 620 shares in the last quarter. Finally, Pinnacle Associates Ltd. grew its position in Prudential Financial by 0.6% in the third quarter. Pinnacle Associates Ltd. now owns 15,775 shares of the financial services provider’s stock worth $1,910,000 after acquiring an additional 99 shares in the last quarter. Institutional investors own 56.83% of the company’s stock.

Prudential Financial Stock Performance

Shares of Prudential Financial stock opened at $112.72 on Friday. Prudential Financial, Inc. has a one year low of $104.44 and a one year high of $130.55. The company has a market cap of $40.35 billion, a price-to-earnings ratio of 15.09, a PEG ratio of 0.98 and a beta of 1.31. The business’s 50 day moving average price is $116.41 and its 200 day moving average price is $119.72. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.16 and a current ratio of 0.16.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data 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 net margin of 4.01% and a return on equity of 15.86%. On average, research analysts predict that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Tuesday, February 18th will be given a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 4.79%. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.30. The ex-dividend date is Tuesday, February 18th. Prudential Financial’s dividend payout ratio is presently 72.29%.

Wall Street Analyst Weigh In

PRU has been the topic of several analyst reports. Piper Sandler cut their price target 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. Keefe, Bruyette & Woods reduced their price target on Prudential Financial from $129.00 to $125.00 and set a “market perform” rating on the stock in a report on Wednesday, February 12th. Jefferies Financial Group boosted their price objective on Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. TD Cowen increased their target price on Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a research note on Wednesday, November 27th. Finally, BMO Capital Markets started coverage on shares of Prudential Financial in a research note on Thursday, January 23rd. They set an “underperform” rating and a $101.00 target price for the company. 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $125.69.

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.