Prudential Financial, Inc. (NYSE:PRU) Shares Bought by Commonwealth Retirement Investments LLC

Commonwealth Retirement Investments LLC lifted its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 1.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,370 shares of the financial services provider’s stock after purchasing an additional 219 shares during the period. Commonwealth Retirement Investments LLC’s holdings in Prudential Financial were worth $1,703,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the company. Savant Capital LLC increased its stake in shares of Prudential Financial by 0.6% during the fourth quarter. Savant Capital LLC now owns 14,382 shares of the financial services provider’s stock worth $1,705,000 after buying an additional 83 shares during the period. Grove Bank & Trust lifted 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 valued at $26,000 after purchasing an additional 87 shares during the last quarter. Avidian Wealth Enterprises LLC boosted its holdings in shares of Prudential Financial by 1.2% in the third quarter. Avidian Wealth Enterprises LLC now owns 7,357 shares of the financial services provider’s stock valued at $891,000 after acquiring an additional 89 shares during the period. Asset Dedication LLC boosted its stake in Prudential Financial by 28.4% during the 4th quarter. Asset Dedication LLC now owns 420 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 93 shares during the period. Finally, RNC Capital Management LLC grew its holdings in shares of Prudential Financial by 3.3% during the fourth quarter. RNC Capital Management LLC now owns 2,990 shares of the financial services provider’s stock worth $354,000 after buying an additional 95 shares during the last quarter. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Prudential Financial Stock Performance

Shares of PRU stock opened at $110.54 on Tuesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.16 and a current ratio of 0.16. The firm has a market capitalization of $39.57 billion, a price-to-earnings ratio of 14.80, a price-to-earnings-growth ratio of 0.98 and a beta of 1.31. Prudential Financial, Inc. has a one year low of $104.44 and a one year high of $130.55. The company has a 50 day moving average price of $116.67 and a 200 day moving average price of $119.81.

Prudential Financial (NYSE:PRU) last issued its earnings results 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%. Sell-side analysts anticipate that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Investors 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 yield of 4.89%. 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 is 72.29%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Evercore ISI raised shares of Prudential Financial from an “underperform” rating to an “inline” rating and boosted their price objective for the company from $117.00 to $140.00 in a research note on Thursday, November 14th. Piper Sandler cut their price target on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. BMO Capital Markets began coverage on shares of Prudential Financial in a report on Thursday, January 23rd. They set an “underperform” rating and a $101.00 price objective on the stock. Wells Fargo & Company increased their target price on shares of Prudential Financial from $113.00 to $118.00 and gave the company an “equal weight” rating in a report on Wednesday, February 19th. Finally, TD Cowen boosted their price target on Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a research note on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Prudential Financial presently has a consensus rating of “Hold” and an average target price of $125.69.

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.