Proficio Capital Partners LLC Takes Position in Prudential Financial, Inc. (NYSE:PRU)

Proficio Capital Partners LLC bought a new stake in Prudential Financial, Inc. (NYSE:PRU) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 253,082 shares of the financial services provider’s stock, valued at approximately $29,998,000. Proficio Capital Partners LLC owned 0.07% of Prudential Financial at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Mn Services Vermogensbeheer B.V. grew its holdings in Prudential Financial by 2.6% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 144,392 shares of the financial services provider’s stock worth $17,115,000 after acquiring an additional 3,600 shares in the last quarter. Checchi Capital Advisers LLC grew its holdings in Prudential Financial by 3.8% during the 4th quarter. Checchi Capital Advisers LLC now owns 4,980 shares of the financial services provider’s stock worth $590,000 after acquiring an additional 180 shares in the last quarter. Bryn Mawr Capital Management LLC grew its holdings in Prudential Financial by 4.1% during the 4th quarter. Bryn Mawr Capital Management LLC now owns 6,027 shares of the financial services provider’s stock worth $714,000 after acquiring an additional 240 shares in the last quarter. Illinois Municipal Retirement Fund grew its holdings in Prudential Financial by 69.6% during the 4th quarter. Illinois Municipal Retirement Fund now owns 167,360 shares of the financial services provider’s stock worth $19,837,000 after acquiring an additional 68,705 shares in the last quarter. Finally, Commonwealth Retirement Investments LLC grew its holdings in Prudential Financial by 1.5% during the 4th quarter. Commonwealth Retirement Investments LLC now owns 14,370 shares of the financial services provider’s stock worth $1,703,000 after acquiring an additional 219 shares in the last quarter. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on PRU shares. Keefe, Bruyette & Woods decreased their price objective on shares of Prudential Financial from $129.00 to $125.00 and set a “market perform” rating for the company in a report on Wednesday, February 12th. Morgan Stanley reduced 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 report on Friday. Barclays raised their price target on shares of Prudential Financial from $128.00 to $134.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 5th. BMO Capital Markets started coverage on shares of Prudential Financial in a research report on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 price target on the stock. Finally, TD Cowen raised their price target on shares of Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a research report on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $126.15.

Prudential Financial Trading Up 2.1 %

Shares of NYSE:PRU opened at $115.07 on Friday. The company has a market cap of $41.20 billion, a PE ratio of 15.40, a P/E/G ratio of 0.98 and a beta of 1.31. The company’s 50-day moving average price is $116.35 and its 200 day moving average price is $119.77. Prudential Financial, Inc. has a fifty-two week low of $104.44 and a fifty-two week high of $130.55. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.68.

Prudential Financial (NYSE:PRU) last issued 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%. Sell-side analysts anticipate that Prudential Financial, Inc. will post 14.36 earnings per share for the current 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 given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.69%. This is an increase from Prudential Financial’s previous quarterly dividend of $1.30. The ex-dividend date is Tuesday, February 18th. Prudential Financial’s payout ratio is 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.