Davis R M Inc. Has $263,000 Position in Prudential Financial, Inc. (NYSE:PRU)

Davis R M Inc. decreased its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 15.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,220 shares of the financial services provider’s stock after selling 404 shares during the quarter. Davis R M Inc.’s holdings in Prudential Financial were worth $263,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Glenmede Trust Co. NA boosted its holdings in shares of Prudential Financial by 7.4% during the 3rd quarter. Glenmede Trust Co. NA now owns 17,968 shares of the financial services provider’s stock worth $2,176,000 after buying an additional 1,234 shares during the period. Avanza Fonder AB bought a new stake in shares of Prudential Financial during the fourth quarter worth approximately $3,423,000. Gateway Investment Advisers LLC grew its position in shares of Prudential Financial by 56.1% in the fourth quarter. Gateway Investment Advisers LLC now owns 21,998 shares of the financial services provider’s stock valued at $2,607,000 after purchasing an additional 7,907 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Prudential Financial by 3.9% during the third quarter. Principal Financial Group Inc. now owns 419,733 shares of the financial services provider’s stock worth $50,830,000 after purchasing an additional 15,695 shares during the period. Finally, Janus Henderson Group PLC lifted its holdings in Prudential Financial by 2.3% during the 3rd quarter. Janus Henderson Group PLC now owns 79,256 shares of the financial services provider’s stock worth $9,597,000 after purchasing an additional 1,765 shares during the last quarter. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on PRU shares. Jefferies Financial Group increased their price objective on Prudential Financial from $149.00 to $152.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Evercore ISI raised 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. Keefe, Bruyette & Woods cut their price objective on shares of Prudential Financial from $129.00 to $125.00 and set a “market perform” rating for the company in a report on Wednesday, February 12th. TD Cowen lifted their price target on shares of Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a research report on Wednesday, November 27th. Finally, Morgan Stanley cut their price target on Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating for the company in a research note on Friday, February 28th. 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 assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $126.15.

Prudential Financial Price Performance

Prudential Financial stock 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 52 week low of $104.45 and a 52 week high of $130.55. The stock has a market capitalization of $37.82 billion, a P/E ratio of 14.14, a price-to-earnings-growth ratio of 0.98 and a beta of 1.28. The stock has a fifty day moving average of $115.04 and a 200-day moving average of $119.64.

Prudential Financial (NYSE:PRU) last issued 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 return on equity of 15.86% and a net margin of 4.01%. On average, sell-side analysts expect that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The business 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. This represents a $5.40 dividend on an annualized basis and a dividend yield of 5.11%. 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 payout ratio is presently 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.