26,780 Shares in Prudential Financial, Inc. (NYSE:PRU) Acquired by Essential Planning LLC.

Essential Planning LLC. bought a new position in Prudential Financial, Inc. (NYSE:PRU) in the fourth quarter, according to its most recent filing with the SEC. The firm bought 26,780 shares of the financial services provider’s stock, valued at approximately $3,305,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Grove Bank & Trust lifted 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 acquiring an additional 87 shares during the period. Centricity Wealth Management LLC acquired a new stake in Prudential Financial during the 4th quarter valued at approximately $29,000. Ashton Thomas Securities LLC acquired a new stake in Prudential Financial during the 3rd quarter valued at approximately $31,000. CGC Financial Services LLC lifted its stake 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 valued at $33,000 after acquiring an additional 124 shares during the period. Finally, Wingate Wealth Advisors Inc. acquired a new stake in Prudential Financial during the 4th quarter valued at approximately $33,000. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have commented on PRU shares. BMO Capital Markets initiated coverage on shares of Prudential Financial in a research note on Thursday, January 23rd. They set an “underperform” rating and a $101.00 price objective for the company. Barclays lifted their target price on shares of Prudential Financial from $128.00 to $134.00 and gave the company an “equal weight” rating in a report on Wednesday, February 5th. TD Cowen lifted their target price on shares of Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a report on Wednesday, November 27th. Piper Sandler cut their target price on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Finally, Evercore ISI raised shares of Prudential Financial from an “underperform” rating to an “inline” rating and lifted 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 assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Prudential Financial has an average rating of “Hold” and an average target price of $126.15.

Prudential Financial Price Performance

Shares of NYSE PRU opened at $106.16 on Thursday. The firm has a market cap of $38.00 billion, a PE ratio of 14.21, a PEG ratio of 0.98 and a beta of 1.28. The firm has a fifty day moving average of $114.79 and a 200 day moving average of $119.54. 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 one year low of $104.15 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 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.36 by ($0.40). Prudential Financial had a return on equity of 15.86% and a net margin of 4.01%. As a group, research analysts predict that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th will be issued a dividend of $1.35 per share. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.30. The ex-dividend date is Tuesday, February 18th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 5.09%. Prudential Financial’s dividend payout ratio is presently 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.