Impax Asset Management Group plc Sells 98 Shares of Prudential Financial, Inc. (NYSE:PRU)

Impax Asset Management Group plc lessened its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 1.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 7,941 shares of the financial services provider’s stock after selling 98 shares during the period. Impax Asset Management Group plc’s holdings in Prudential Financial were worth $941,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Grove Bank & Trust boosted its position in shares of 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 last quarter. Centricity Wealth Management LLC bought a new stake in shares of Prudential Financial during the 4th quarter valued at about $29,000. Ashton Thomas Securities LLC bought a new stake in shares of Prudential Financial during the 3rd quarter valued at about $31,000. CGC Financial Services LLC boosted its position in shares of 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 last quarter. Finally, Wingate Wealth Advisors Inc. bought a new stake in shares of Prudential Financial during the 4th quarter valued at about $33,000. Institutional investors own 56.83% of the company’s stock.

Prudential Financial Stock Performance

Shares of PRU stock opened at $111.12 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 fifty-two week low of $104.44 and a fifty-two week high of $130.55. The stock has a 50 day moving average price of $116.52 and a two-hundred day moving average price of $119.83. The company has a market capitalization of $39.78 billion, a P/E ratio of 14.87, a PEG ratio of 0.98 and a beta of 1.31.

Prudential Financial (NYSE:PRU) last posted its earnings results on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.36 by ($0.40). Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. Analysts expect that Prudential Financial, Inc. will post 14.36 earnings per share for the current 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 paid a dividend of $1.35 per share. The ex-dividend date is Tuesday, February 18th. This is a boost from Prudential Financial’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a dividend yield of 4.86%. Prudential Financial’s payout ratio is 72.29%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on PRU shares. Barclays boosted their target price on Prudential Financial from $128.00 to $134.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 5th. Wells Fargo & Company boosted their target price on Prudential Financial from $113.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 19th. Evercore ISI upgraded Prudential Financial from an “underperform” rating to an “inline” rating and boosted their target price for the stock from $117.00 to $140.00 in a research report on Thursday, November 14th. TD Cowen boosted their target price on Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a research report on Wednesday, November 27th. Finally, Piper Sandler dropped their target price on Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. One analyst has rated the stock with a sell rating, ten have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $125.69.

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.