Prudential Financial, Inc. (NYSE:PRU) Position Reduced by Mission Wealth Management LP

Mission Wealth Management LP trimmed its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 12.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,601 shares of the financial services provider’s stock after selling 1,341 shares during the quarter. Mission Wealth Management LP’s holdings in Prudential Financial were worth $1,138,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in PRU. Nordea Investment Management AB boosted its stake in Prudential Financial by 176.8% during the 4th quarter. Nordea Investment Management AB now owns 1,041,420 shares of the financial services provider’s stock valued at $123,804,000 after acquiring an additional 665,180 shares during the last quarter. FMR LLC boosted its stake in Prudential Financial by 31.3% during the 3rd quarter. FMR LLC now owns 1,444,288 shares of the financial services provider’s stock valued at $174,903,000 after acquiring an additional 344,254 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Prudential Financial by 4.1% in the 3rd quarter. Geode Capital Management LLC now owns 8,662,679 shares of the financial services provider’s stock worth $1,047,872,000 after buying an additional 341,787 shares during the last quarter. Proficio Capital Partners LLC bought a new position in shares of Prudential Financial in the 4th quarter worth about $29,998,000. Finally, Jacobs Levy Equity Management Inc. lifted its position in shares of Prudential Financial by 241.8% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 214,456 shares of the financial services provider’s stock worth $25,971,000 after buying an additional 151,710 shares during the last quarter. 56.83% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Jefferies Financial Group raised their price target on shares of Prudential Financial from $149.00 to $152.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Barclays raised their price target 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. Evercore ISI upgraded shares of Prudential Financial from an “underperform” rating to an “inline” rating and raised their price target for the stock from $117.00 to $140.00 in a research report on Thursday, November 14th. Morgan Stanley dropped 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 report on Friday, February 28th. Finally, TD Cowen increased their price objective on shares of Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a report on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $126.15.

Prudential Financial Stock Down 3.5 %

Prudential Financial stock opened at $109.51 on Wednesday. The stock has a market cap of $39.21 billion, a price-to-earnings ratio of 14.66, a PEG 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 company’s 50-day moving average price is $116.05 and its two-hundred day moving average price is $119.86. Prudential Financial, Inc. has a 52 week low of $104.44 and a 52 week high of $130.55.

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 the consensus estimate 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 expect 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 paid a $1.35 dividend. The ex-dividend date is Tuesday, February 18th. This represents a $5.40 annualized dividend and a dividend yield of 4.93%. This is a boost from Prudential Financial’s previous quarterly dividend of $1.30. Prudential Financial’s payout ratio is currently 72.29%.

Prudential Financial 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.