Xcel Wealth Management LLC Sells 1,410 Shares of Prudential Financial, Inc. (NYSE:PRU)

Xcel Wealth Management LLC decreased its holdings in Prudential Financial, Inc. (NYSE:PRU) by 5.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 26,729 shares of the financial services provider’s stock after selling 1,410 shares during the quarter. Prudential Financial makes up about 0.9% of Xcel Wealth Management LLC’s investment portfolio, making the stock its 29th largest position. Xcel Wealth Management LLC’s holdings in Prudential Financial were worth $3,168,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Grove Bank & Trust raised its position in Prudential Financial by 65.9% in the 4th quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 87 shares during the last quarter. Centricity Wealth Management LLC bought a new stake in shares of Prudential Financial during the fourth quarter worth $29,000. Ashton Thomas Securities LLC bought a new stake in shares of Prudential Financial during the third quarter worth $31,000. CGC Financial Services LLC raised its position in shares of Prudential Financial by 82.1% during the fourth quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 124 shares during the last quarter. Finally, Wingate Wealth Advisors Inc. bought a new stake in shares of Prudential Financial during the fourth quarter worth $33,000. Institutional investors own 56.83% of the company’s stock.

Prudential Financial Stock Up 2.1 %

NYSE:PRU opened at $115.07 on Friday. Prudential Financial, Inc. has a 1 year low of $104.44 and a 1 year high of $130.55. 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 market cap of $41.20 billion, a price-to-earnings ratio of 15.40, a PEG ratio of 0.98 and a beta of 1.31. The stock has a 50-day moving average price of $116.35 and a two-hundred day moving average price of $119.77.

Prudential Financial (NYSE:PRU) last posted its 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 net margin of 4.01% and a return on equity of 15.86%. As a group, equities analysts expect that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Increases Dividend

The company also recently disclosed 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 boost from Prudential Financial’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a dividend yield of 4.69%. The ex-dividend date of this dividend is Tuesday, February 18th. Prudential Financial’s dividend payout ratio is currently 72.29%.

Wall Street Analyst Weigh In

PRU has been the subject of a number of recent research reports. BMO Capital Markets initiated coverage on Prudential Financial in a research report on Thursday, January 23rd. They set an “underperform” rating and a $101.00 target price for the company. Piper Sandler dropped their target price on Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Barclays boosted their target price on Prudential Financial from $128.00 to $134.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 5th. Morgan Stanley decreased their price objective on Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating for the company in a research note on Friday. Finally, TD Cowen lifted their price objective on Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a research note on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $126.15.

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.