Essential Planning LLC. Takes $3.31 Million Position in Prudential Financial, Inc. (NYSE:PRU)

Essential Planning LLC. purchased a new stake in shares of Prudential Financial, Inc. (NYSE:PRU) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 26,780 shares of the financial services provider’s stock, valued at approximately $3,305,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Grove Bank & Trust boosted its position in shares of Prudential Financial by 65.9% during the 4th quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 87 shares during the last quarter. Centricity Wealth Management LLC acquired a new position in shares of Prudential Financial during the 4th quarter valued at about $29,000. Ashton Thomas Securities LLC acquired a new position in shares of Prudential Financial during the 3rd quarter valued at about $31,000. CGC Financial Services LLC boosted its position in shares of Prudential Financial by 82.1% during the 4th 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 during the last quarter. Finally, Wingate Wealth Advisors Inc. acquired a new position in Prudential Financial in the fourth quarter valued at about $33,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

Prudential Financial Stock Up 0.5 %

PRU stock opened at $106.16 on Thursday. The company’s 50 day moving average price is $114.79 and its 200 day moving average price is $119.54. 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, Inc. has a fifty-two week low of $104.15 and a fifty-two week high of $130.55. The firm has a market capitalization of $38.00 billion, a price-to-earnings ratio of 14.21, a PEG ratio of 0.98 and a beta of 1.28.

Prudential Financial (NYSE:PRU) last released its earnings results on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share 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%. On average, equities research analysts anticipate that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Increases Dividend

The business 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 $1.35 dividend. 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 5.09%. The ex-dividend date is Tuesday, February 18th. Prudential Financial’s dividend payout ratio is currently 72.29%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on PRU shares. Jefferies Financial Group upped their target price on shares of Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Morgan Stanley decreased their target price on shares of Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating on the stock in a research report on Friday, February 28th. Barclays upped their target price on shares of Prudential Financial from $128.00 to $134.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 5th. Keefe, Bruyette & Woods decreased their target price on shares of Prudential Financial from $129.00 to $125.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 12th. Finally, Piper Sandler decreased their target price on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $126.15.

About Prudential Financial

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.