Schechter Investment Advisors LLC Sells 508 Shares of Prudential Financial, Inc. (NYSE:PRU)

Schechter Investment Advisors LLC decreased its position in Prudential Financial, Inc. (NYSE:PRU) by 6.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 7,365 shares of the financial services provider’s stock after selling 508 shares during the quarter. Schechter Investment Advisors LLC’s holdings in Prudential Financial were worth $873,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Grove Bank & Trust grew its position in Prudential Financial by 65.9% during the fourth quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock valued at $26,000 after buying an additional 87 shares during the period. Centricity Wealth Management LLC bought a new position in Prudential Financial during the fourth quarter valued at about $29,000. Ashton Thomas Securities LLC bought a new position in Prudential Financial during the third quarter valued at about $31,000. CGC Financial Services LLC boosted its position 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 worth $33,000 after purchasing an additional 124 shares during the period. Finally, Wingate Wealth Advisors Inc. bought a new position in Prudential Financial during the fourth quarter worth about $33,000. Institutional investors own 56.83% of the company’s stock.

Prudential Financial Trading Down 3.5 %

Shares of PRU opened at $109.51 on Wednesday. The firm’s 50 day simple moving average is $116.05 and its 200 day simple moving average is $119.86. The company has a market capitalization of $39.21 billion, a P/E ratio of 14.66, a P/E/G ratio of 0.98 and a beta of 1.31. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.16 and a quick ratio of 0.16. Prudential Financial, Inc. has a 1-year low of $104.44 and a 1-year high of $130.55.

Prudential Financial (NYSE:PRU) last posted its quarterly 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 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 company also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th will be issued a $1.35 dividend. This is a boost from Prudential Financial’s previous quarterly dividend of $1.30. The ex-dividend date is Tuesday, February 18th. This represents a $5.40 annualized dividend and a dividend yield of 4.93%. Prudential Financial’s dividend payout ratio (DPR) is currently 72.29%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Jefferies Financial Group increased their target price on shares of Prudential Financial from $149.00 to $152.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Piper Sandler cut their target price on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. TD Cowen increased their target price 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. BMO Capital Markets assumed coverage on shares of Prudential Financial in a report on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 price target on the stock. Finally, Wells Fargo & Company increased their price target on shares of Prudential Financial from $113.00 to $118.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 19th. One 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. Based on data from MarketBeat, Prudential Financial 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.