Raab & Moskowitz Asset Management LLC Sells 98 Shares of Prudential Financial, Inc. (NYSE:PRU)

Raab & Moskowitz Asset Management LLC decreased its stake in Prudential Financial, Inc. (NYSE:PRU) by 1.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 7,350 shares of the financial services provider’s stock after selling 98 shares during the period. Raab & Moskowitz Asset Management LLC’s holdings in Prudential Financial were worth $871,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PRU. Van ECK Associates Corp raised its holdings in shares of Prudential Financial by 4.3% in the 4th quarter. Van ECK Associates Corp now owns 18,364 shares of the financial services provider’s stock worth $2,177,000 after purchasing an additional 764 shares during the period. Kentucky Trust Co purchased a new stake in Prudential Financial in the fourth quarter worth $54,000. Capital Advisors Inc. OK raised its stake in shares of Prudential Financial by 5.1% in the fourth quarter. Capital Advisors Inc. OK now owns 262,238 shares of the financial services provider’s stock valued at $31,083,000 after buying an additional 12,644 shares during the period. Indiana Trust & Investment Management Co grew its stake in shares of Prudential Financial by 4.0% during the 4th quarter. Indiana Trust & Investment Management Co now owns 4,563 shares of the financial services provider’s stock worth $541,000 after acquiring an additional 175 shares during the period. Finally, Community Bank & Trust Waco Texas grew its stake in shares of Prudential Financial by 1.5% during the 4th quarter. Community Bank & Trust Waco Texas now owns 46,558 shares of the financial services provider’s stock worth $5,519,000 after acquiring an additional 698 shares during the period. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Jefferies Financial Group upped their price objective on shares of Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Barclays raised their price objective on shares of Prudential Financial from $128.00 to $134.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 5th. Evercore ISI raised shares of Prudential Financial from an “underperform” rating to an “inline” rating and boosted their target price for the company from $117.00 to $140.00 in a report on Thursday, November 14th. Piper Sandler cut their price target on Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Finally, BMO Capital Markets initiated coverage on Prudential Financial in a research note on Thursday, January 23rd. They set an “underperform” rating and a $101.00 price objective on the stock. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $125.46.

Prudential Financial Price Performance

Shares of NYSE:PRU opened at $110.82 on Thursday. The company’s fifty day moving average price is $118.78 and its 200-day moving average price is $120.07. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.16 and a quick ratio of 0.14. The firm has a market capitalization of $39.45 billion, a price-to-earnings ratio of 14.84, a PEG ratio of 1.00 and a beta of 1.31. Prudential Financial, Inc. has a one year low of $104.02 and a one year 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 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 research analysts anticipate that Prudential Financial, Inc. will post 14.38 earnings per share 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. Investors of record on Tuesday, February 18th will be given a $1.35 dividend. This is an increase from Prudential Financial’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $5.40 dividend on an annualized basis and a yield of 4.87%. Prudential Financial’s payout ratio is presently 69.61%.

Insiders Place Their Bets

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential purchased 537,249 shares of the stock in a transaction on Monday, November 25th. The stock was acquired at an average cost of $27.92 per share, with a total value of $14,999,992.08. Following the completion of the purchase, the insider now directly owns 4,780,293 shares of the company’s stock, valued at approximately $133,465,780.56. This trade represents a 12.66 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.31% of the stock is owned by insiders.

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.