QRG Capital Management Inc. Grows Stock Holdings in Prudential Financial, Inc. (NYSE:PRU)

QRG Capital Management Inc. lifted its position in Prudential Financial, Inc. (NYSE:PRU) by 10.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 54,902 shares of the financial services provider’s stock after purchasing an additional 5,123 shares during the quarter. QRG Capital Management Inc.’s holdings in Prudential Financial were worth $6,508,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of PRU. Grove Bank & Trust grew its position in Prudential Financial by 65.9% during the fourth 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 last quarter. Centricity Wealth Management LLC purchased a new stake in shares of Prudential Financial in the 4th quarter valued at $29,000. Ashton Thomas Securities LLC bought a new position in shares of Prudential Financial during the 3rd quarter valued at $31,000. CGC Financial Services LLC raised its position in Prudential Financial by 82.1% in the 4th quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 124 shares during the period. Finally, Wingate Wealth Advisors Inc. purchased a new stake in Prudential Financial during the fourth quarter valued at about $33,000. 56.83% of the stock is owned by hedge funds and other institutional investors.

Prudential Financial Stock Performance

Shares of Prudential Financial stock opened at $115.07 on Friday. The business has a fifty day simple moving average of $116.35 and a two-hundred day simple moving average of $119.77. The firm has a market capitalization of $41.20 billion, a P/E ratio of 15.40, a P/E/G 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. Prudential Financial, Inc. has a 12 month low of $104.44 and a 12 month high of $130.55.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data 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, equities analysts forecast that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Tuesday, February 18th will be given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 4.69%. The ex-dividend date is Tuesday, February 18th. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.30. Prudential Financial’s dividend payout ratio (DPR) is 72.29%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Jefferies Financial Group lifted their price objective on Prudential Financial from $149.00 to $152.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Barclays boosted their price objective on Prudential Financial from $128.00 to $134.00 and gave the company 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 target price for the stock from $117.00 to $140.00 in a report on Thursday, November 14th. Piper Sandler lowered their price target 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, BMO Capital Markets initiated coverage on shares of Prudential Financial in a research report on Thursday, January 23rd. They set an “underperform” rating and a $101.00 price target for the company. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Prudential Financial presently has a consensus rating of “Hold” and an average price target of $126.15.

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.