Mainstay Capital Management LLC ADV Acquires 473 Shares of Prudential Financial, Inc. (NYSE:PRU)

Mainstay Capital Management LLC ADV boosted its holdings in Prudential Financial, Inc. (NYSE:PRU) by 2.6% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,986 shares of the financial services provider’s stock after acquiring an additional 473 shares during the quarter. Prudential Financial accounts for about 0.3% of Mainstay Capital Management LLC ADV’s investment portfolio, making the stock its 26th largest position. Mainstay Capital Management LLC ADV’s holdings in Prudential Financial were worth $2,250,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Union Bancaire Privee UBP SA bought a new position in Prudential Financial in the 4th quarter worth about $54,000. Delta Financial Group Inc. bought a new position in Prudential Financial in the 4th quarter worth about $369,000. Howard Capital Management Inc. increased its stake in Prudential Financial by 5.4% in the 4th quarter. Howard Capital Management Inc. now owns 2,455 shares of the financial services provider’s stock worth $291,000 after acquiring an additional 126 shares during the last quarter. Wealthspire Advisors LLC increased its stake in Prudential Financial by 25.9% in the 4th quarter. Wealthspire Advisors LLC now owns 3,235 shares of the financial services provider’s stock worth $383,000 after acquiring an additional 666 shares during the last quarter. Finally, First Horizon Advisors Inc. increased its position in shares of Prudential Financial by 2.7% during the 4th quarter. First Horizon Advisors Inc. now owns 167,110 shares of the financial services provider’s stock valued at $19,808,000 after purchasing an additional 4,425 shares during the last quarter. 56.83% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Barclays increased their price objective on Prudential Financial from $128.00 to $134.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 5th. Keefe, Bruyette & Woods reduced their price objective on Prudential Financial from $129.00 to $125.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 12th. BMO Capital Markets assumed coverage on Prudential Financial in a research report on Thursday, January 23rd. They set an “underperform” rating and a $101.00 price objective on the stock. TD Cowen increased their target price on Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a report on Wednesday, November 27th. Finally, Evercore ISI upgraded Prudential Financial from an “underperform” rating to an “inline” rating and increased their target price for the company from $117.00 to $140.00 in a report on Thursday, November 14th. 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, Prudential Financial currently has an average rating of “Hold” and an average price target of $125.69.

Prudential Financial Trading Down 1.5 %

NYSE PRU opened at $109.45 on Monday. Prudential Financial, Inc. has a fifty-two week low of $104.44 and a fifty-two week high of $130.55. 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 stock has a 50 day simple moving average of $116.88 and a two-hundred day simple moving average of $119.80. The stock has a market cap 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.

Prudential Financial (NYSE:PRU) last released its earnings results on Tuesday, February 4th. The financial services provider reported $2.96 EPS 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 earnings per share for the current 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 paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.93%. 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. Prudential Financial’s dividend payout ratio (DPR) is presently 72.29%.

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.