Truvestments Capital LLC Has $134,000 Holdings in Prudential Financial, Inc. (NYSE:PRU)

Truvestments Capital LLC grew its stake in Prudential Financial, Inc. (NYSE:PRU) by 26.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,130 shares of the financial services provider’s stock after buying an additional 236 shares during the period. Truvestments Capital LLC’s holdings in Prudential Financial were worth $134,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Glenmede Trust Co. NA lifted its position in shares of Prudential Financial by 7.4% in the third quarter. Glenmede Trust Co. NA now owns 17,968 shares of the financial services provider’s stock worth $2,176,000 after buying an additional 1,234 shares during the last quarter. Avanza Fonder AB acquired a new stake in shares of Prudential Financial in the fourth quarter worth about $3,423,000. Gateway Investment Advisers LLC increased its stake in shares of Prudential Financial by 56.1% in the fourth quarter. Gateway Investment Advisers LLC now owns 21,998 shares of the financial services provider’s stock worth $2,607,000 after purchasing an additional 7,907 shares during the period. Principal Financial Group Inc. increased its stake in shares of Prudential Financial by 3.9% in the third quarter. Principal Financial Group Inc. now owns 419,733 shares of the financial services provider’s stock worth $50,830,000 after purchasing an additional 15,695 shares during the period. Finally, Janus Henderson Group PLC increased its stake in shares of Prudential Financial by 2.3% in the third quarter. Janus Henderson Group PLC now owns 79,256 shares of the financial services provider’s stock worth $9,597,000 after purchasing an additional 1,765 shares during the period. Institutional investors and hedge funds own 56.83% of the company’s stock.

Prudential Financial Stock Up 0.5 %

NYSE PRU opened at $106.16 on Thursday. 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’s 50 day moving average is $114.79 and its two-hundred day moving average is $119.54. The company 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, Inc. has a 1-year low of $104.15 and a 1-year high of $130.55.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data 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 net margin of 4.01% and a return on equity of 15.86%. Equities 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 disclosed 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 dividend on an annualized basis and a yield of 5.09%. This is an increase from Prudential Financial’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Tuesday, February 18th. Prudential Financial’s payout ratio is presently 72.29%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on PRU shares. Morgan Stanley dropped their price objective on 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. Barclays lifted their price objective on Prudential Financial from $128.00 to $134.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 5th. Piper Sandler dropped their price objective on Prudential Financial from $127.00 to $124.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Keefe, Bruyette & Woods dropped their price objective on 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. Finally, Wells Fargo & Company boosted their price target on Prudential Financial from $113.00 to $118.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Prudential Financial 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.