Hopwood Financial Services Inc. Takes Position in Prudential Financial, Inc. (NYSE:PRU)

Hopwood Financial Services Inc. bought a new stake in Prudential Financial, Inc. (NYSE:PRU) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 287 shares of the financial services provider’s stock, valued at approximately $34,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Grove Bank & Trust raised its position in 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 purchasing an additional 87 shares during the last quarter. Centricity Wealth Management LLC bought a new position in Prudential Financial during the 4th quarter valued at approximately $29,000. Ashton Thomas Securities LLC bought a new position in Prudential Financial during the 3rd quarter valued at approximately $31,000. CGC Financial Services LLC raised its position in 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 purchasing an additional 124 shares during the last quarter. Finally, Wingate Wealth Advisors Inc. bought a new position in Prudential Financial during the 4th quarter valued at approximately $33,000. Institutional investors own 56.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. BMO Capital Markets assumed coverage on Prudential Financial in a research report on Thursday, January 23rd. They set an “underperform” rating and a $101.00 price target for the company. Evercore ISI upgraded Prudential Financial from an “underperform” rating to an “inline” rating and upped their target price for the stock from $117.00 to $140.00 in a report on Thursday, November 14th. TD Cowen upped their target price on Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a report on Wednesday, November 27th. Wells Fargo & Company upped their target price on Prudential Financial from $113.00 to $118.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 19th. Finally, Keefe, Bruyette & Woods reduced their target price 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. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Prudential Financial presently has an average rating of “Hold” and a consensus price target of $126.15.

Prudential Financial Stock Performance

Prudential Financial stock opened at $106.16 on Thursday. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $38.00 billion, a P/E ratio of 14.21, a PEG ratio of 0.98 and a beta of 1.28. The stock’s 50 day moving average is $114.79 and its 200 day moving average is $119.54. Prudential Financial, Inc. has a twelve month low of $104.15 and a twelve month high of $130.55.

Prudential Financial (NYSE:PRU) last issued its earnings results on Tuesday, February 4th. The financial services provider reported $2.96 EPS for the quarter, missing the consensus estimate 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, equities research analysts predict that Prudential Financial, Inc. will post 14.36 earnings per share 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 issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 5.09%. 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 presently 72.29%.

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.