Jones Financial Companies Lllp Has $2.52 Million Holdings in Prudential Financial, Inc. (NYSE:PRU)

Jones Financial Companies Lllp lifted its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 32.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,243 shares of the financial services provider’s stock after acquiring an additional 5,144 shares during the quarter. Jones Financial Companies Lllp’s holdings in Prudential Financial were worth $2,518,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Grove Bank & Trust lifted its stake in Prudential Financial by 65.9% in 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 acquired a new stake in shares of Prudential Financial during the fourth quarter worth $29,000. Ashton Thomas Securities LLC bought a new stake in shares of Prudential Financial in the third quarter valued at about $31,000. CGC Financial Services LLC boosted its position in Prudential Financial by 82.1% during the 4th quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 124 shares during the last quarter. Finally, Wingate Wealth Advisors Inc. bought a new position in Prudential Financial in the fourth quarter valued at $33,000. 56.83% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PRU has been the subject of a number of analyst reports. Evercore ISI upgraded Prudential Financial from an “underperform” rating to an “inline” rating and raised their price target for the company from $117.00 to $140.00 in a research note on Thursday, November 14th. 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. Keefe, Bruyette & Woods dropped their target price on Prudential Financial from $129.00 to $125.00 and set a “market perform” rating for the company in a report on Wednesday, February 12th. 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. Finally, Morgan Stanley cut their price objective on shares of Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating for the company in a research report on Friday, February 28th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Prudential Financial currently has an average rating of “Hold” and a consensus target price of $126.15.

Prudential Financial Price Performance

Shares of PRU opened at $110.90 on Thursday. The stock has a market cap of $39.70 billion, a PE ratio of 14.85, a PEG ratio of 0.98 and a beta of 1.31. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.68. The business has a 50-day simple moving average of $115.89 and a two-hundred day simple moving average of $119.80. Prudential Financial, Inc. has a 12-month low of $104.44 and a 12-month high of $130.55.

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 return on equity of 15.86% and a net margin of 4.01%. Analysts anticipate that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th will be given a dividend of $1.35 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This is a boost from Prudential Financial’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a dividend yield of 4.87%. Prudential Financial’s dividend payout ratio is 72.29%.

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.