Delta Financial Group Inc. Makes New Investment in Prudential Financial, Inc. (NYSE:PRU)

Delta Financial Group Inc. acquired a new stake in shares of Prudential Financial, Inc. (NYSE:PRU) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,112 shares of the financial services provider’s stock, valued at approximately $369,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Grove Bank & Trust grew its stake in Prudential Financial by 65.9% during 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. Centricity Wealth Management LLC acquired a new stake in shares of Prudential Financial during the fourth quarter worth about $29,000. Ashton Thomas Securities LLC purchased a new stake in Prudential Financial in the third quarter valued at approximately $31,000. CGC Financial Services LLC raised its position in Prudential Financial by 82.1% during the 4th quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider’s stock worth $33,000 after buying an additional 124 shares during the last quarter. Finally, Wingate Wealth Advisors Inc. acquired a new stake in Prudential Financial during the 4th quarter valued at approximately $33,000. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Wall Street Analyst Weigh In

PRU has been the topic of a number of research reports. Barclays increased their price objective on shares of Prudential Financial from $128.00 to $134.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 5th. Jefferies Financial Group lifted their price objective on Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Piper Sandler lowered their price objective 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. 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 for the company. Finally, Evercore ISI upgraded shares of Prudential Financial from an “underperform” rating to an “inline” rating and raised their price target for the company from $117.00 to $140.00 in a research report on Thursday, November 14th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $125.69.

Prudential Financial Price Performance

Prudential Financial stock opened at $109.45 on Monday. The company has a fifty day simple moving average of $116.88 and a 200-day simple moving average of $119.80. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $39.18 billion, a price-to-earnings ratio of 14.65, a PEG ratio of 0.98 and a beta of 1.31. 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 quarterly earnings data 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, equities analysts anticipate that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th will be paid a dividend of $1.35 per share. 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 yield of 4.93%. Prudential Financial’s payout ratio is 72.29%.

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.