Prudential Financial, Inc. (NYSE:PRU) Stock Holdings Increased by Modera Wealth Management LLC

Modera Wealth Management LLC raised its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 2.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,053 shares of the financial services provider’s stock after buying an additional 283 shares during the period. Modera Wealth Management LLC’s holdings in Prudential Financial were worth $1,547,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Grove Bank & Trust grew its holdings in shares of Prudential Financial by 65.9% in the 4th quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock worth $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 in the 4th quarter valued at $29,000. Ashton Thomas Securities LLC purchased a new position in Prudential Financial in the 3rd quarter worth about $31,000. CGC Financial Services LLC lifted its stake in Prudential Financial by 82.1% during the fourth quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider’s stock valued at $33,000 after buying an additional 124 shares in the last quarter. Finally, Wingate Wealth Advisors Inc. acquired a new position in shares of Prudential Financial in the fourth quarter worth about $33,000. Institutional investors own 56.83% of the company’s stock.

Prudential Financial Stock Down 1.5 %

Prudential Financial stock opened at $113.37 on Tuesday. The company has a market capitalization of $40.59 billion, a P/E ratio of 15.18, a P/E/G ratio of 0.98 and a beta of 1.31. Prudential Financial, Inc. has a 1-year low of $104.44 and a 1-year high of $130.55. The firm’s fifty day simple moving average is $116.25 and its 200-day simple moving average is $119.90. 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 announced its quarterly 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%. Sell-side analysts forecast that Prudential Financial, Inc. will post 14.36 earnings per share 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 issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 4.76%. The ex-dividend date of this dividend is Tuesday, February 18th. This is an increase from Prudential Financial’s previous quarterly dividend of $1.30. Prudential Financial’s dividend payout ratio (DPR) is 72.29%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Barclays upped their price target 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. Morgan Stanley decreased their target price on Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating for the company in a research report on Friday. BMO Capital Markets assumed coverage on Prudential Financial in a research note on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 price objective for the company. Wells Fargo & Company upped their target price on Prudential Financial from $113.00 to $118.00 and gave the company an “equal weight” rating in a report on Wednesday, February 19th. Finally, Evercore ISI upgraded shares of Prudential Financial from an “underperform” rating to an “inline” rating and raised their price target for the stock from $117.00 to $140.00 in a report on Thursday, November 14th. 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 assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus 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.