First Horizon Advisors Inc. Has $19.81 Million Stock Position in Prudential Financial, Inc. (NYSE:PRU)

First Horizon Advisors Inc. raised its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 2.7% in the fourth quarter, HoldingsChannel reports. The fund owned 167,110 shares of the financial services provider’s stock after acquiring an additional 4,425 shares during the period. First Horizon Advisors Inc.’s holdings in Prudential Financial were worth $19,808,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Grove Bank & Trust boosted its stake in 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 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 grew its stake in shares of Prudential Financial by 82.1% in the fourth quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 124 shares in the last quarter. Finally, Wingate Wealth Advisors Inc. bought a new position in Prudential Financial during the fourth quarter worth about $33,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

Prudential Financial Stock Down 1.5 %

PRU stock opened at $109.45 on Friday. The stock has a market capitalization of $39.18 billion, a P/E ratio of 14.65, a price-to-earnings-growth ratio of 0.98 and a beta of 1.31. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.68. The firm has a 50-day moving average price of $116.88 and a 200-day moving average price of $119.71. 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 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%. As a group, equities research analysts anticipate that Prudential Financial, Inc. will post 14.36 EPS 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. Investors of record on Tuesday, February 18th will be given a dividend of $1.35 per share. The ex-dividend date is Tuesday, February 18th. This represents a $5.40 dividend on an annualized basis and a yield of 4.93%. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.30. Prudential Financial’s payout ratio is currently 72.29%.

Insiders Place Their Bets

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 537,249 shares of Prudential Financial stock in a transaction on Monday, November 25th. The shares were purchased at an average cost of $27.92 per share, with a total value of $14,999,992.08. Following the acquisition, the insider now directly owns 4,780,293 shares of the company’s stock, valued at $133,465,780.56. The trade was a 12.66 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PRU. Barclays increased their target price 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. Piper Sandler reduced their price target on Prudential Financial from $127.00 to $124.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Jefferies Financial Group raised their price objective on Prudential Financial from $149.00 to $152.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Keefe, Bruyette & Woods cut their target price on Prudential Financial from $129.00 to $125.00 and set a “market perform” rating for the company in a research report on Wednesday, February 12th. Finally, Wells Fargo & Company raised their price target on Prudential Financial from $113.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has issued 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 price target 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.