Moors & Cabot Inc. Raises Stock Position in Prudential Financial, Inc. (NYSE:PRU)

Moors & Cabot Inc. grew its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 1.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,407 shares of the financial services provider’s stock after purchasing an additional 119 shares during the period. Moors & Cabot Inc.’s holdings in Prudential Financial were worth $996,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Grove Bank & Trust increased its stake in Prudential Financial by 65.9% during the fourth quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 87 shares during the period. Centricity Wealth Management LLC purchased a new stake in shares of Prudential Financial during the fourth quarter worth approximately $29,000. Ashton Thomas Securities LLC purchased a new stake in shares of Prudential Financial during the third quarter worth approximately $31,000. CGC Financial Services LLC increased its stake 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 buying an additional 124 shares during the period. Finally, Wingate Wealth Advisors Inc. purchased a new stake in shares of Prudential Financial during the fourth quarter worth approximately $33,000. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Prudential Financial Price Performance

PRU stock opened at $104.79 on Friday. The company has a market capitalization of $37.52 billion, a P/E ratio of 14.03, a PEG ratio of 0.98 and a beta of 1.28. Prudential Financial, Inc. has a twelve month low of $104.45 and a twelve month high of $130.55. The business has a 50 day simple moving average of $114.52 and a 200-day simple moving average of $119.44. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.68.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share 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%. As a group, equities analysts anticipate that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Tuesday, February 18th were issued a dividend of $1.35 per share. The ex-dividend date was Tuesday, February 18th. This is an increase from Prudential Financial’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a dividend yield of 5.15%. Prudential Financial’s dividend payout ratio (DPR) is currently 72.29%.

Analyst Ratings Changes

A number of analysts recently weighed in on PRU shares. TD Cowen upped their target price 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. Keefe, Bruyette & Woods cut 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 note on Wednesday, February 12th. Barclays upped their target price on shares of Prudential Financial from $128.00 to $134.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 5th. Morgan Stanley dropped their price target on shares of Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating on the stock in a research note on Friday, February 28th. Finally, BMO Capital Markets started coverage on shares of Prudential Financial in a research note on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 price target on the stock. One equities 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 given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $126.15.

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.