Larson Financial Group LLC Has $141,000 Holdings in Prudential Financial, Inc. (NYSE:PRU)

Larson Financial Group LLC raised its stake in Prudential Financial, Inc. (NYSE:PRU) by 66.3% in the 4th quarter, HoldingsChannel reports. The fund owned 1,189 shares of the financial services provider’s stock after buying an additional 474 shares during the quarter. Larson Financial Group LLC’s holdings in Prudential Financial were worth $141,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. increased its position in Prudential Financial by 1.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 117,250 shares of the financial services provider’s stock valued at $13,898,000 after acquiring an additional 1,181 shares in the last quarter. Machina Capital S.A.S. boosted its stake in shares of Prudential Financial by 258.1% in the 4th quarter. Machina Capital S.A.S. now owns 14,280 shares of the financial services provider’s stock valued at $1,693,000 after purchasing an additional 10,292 shares during the last quarter. Aviance Capital Partners LLC boosted its stake in shares of Prudential Financial by 8.2% in the 4th quarter. Aviance Capital Partners LLC now owns 3,975 shares of the financial services provider’s stock valued at $471,000 after purchasing an additional 301 shares during the last quarter. Mesirow Financial Investment Management Inc. boosted its stake in shares of Prudential Financial by 6.5% in the 4th quarter. Mesirow Financial Investment Management Inc. now owns 6,013 shares of the financial services provider’s stock valued at $713,000 after purchasing an additional 366 shares during the last quarter. Finally, Callan Family Office LLC boosted its stake in shares of Prudential Financial by 250.4% in the 4th quarter. Callan Family Office LLC now owns 6,781 shares of the financial services provider’s stock valued at $804,000 after purchasing an additional 4,846 shares during the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.

Prudential Financial Stock Performance

Shares of PRU opened at $105.66 on Wednesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.16 and a current ratio of 0.16. Prudential Financial, Inc. has a twelve month low of $104.45 and a twelve month high of $130.55. The firm’s 50 day moving average price is $115.04 and its two-hundred day moving average price is $119.64. The firm has a market cap of $37.82 billion, a P/E ratio of 14.14, a PEG ratio of 0.98 and a beta of 1.28.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results 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%. On average, analysts forecast that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Increases Dividend

The firm also recently disclosed 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. The ex-dividend date is Tuesday, February 18th. This is an increase from Prudential Financial’s previous quarterly dividend of $1.30. This represents a $5.40 dividend on an annualized basis and a dividend yield of 5.11%. Prudential Financial’s dividend payout ratio (DPR) is 72.29%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. BMO Capital Markets assumed coverage on shares of Prudential Financial in a research note on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 target price on the stock. Barclays raised their target price on shares of Prudential Financial from $128.00 to $134.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 5th. Piper Sandler reduced their price objective on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Wells Fargo & Company lifted their price objective on shares of Prudential Financial from $113.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 19th. Finally, Morgan Stanley reduced their price objective on shares of 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. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Prudential Financial currently has an average rating of “Hold” and an average target price of $126.15.

Prudential Financial Company 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.