SVB Wealth LLC Takes Position in Prudential Financial, Inc. (NYSE:PRU)

SVB Wealth LLC bought a new stake in Prudential Financial, Inc. (NYSE:PRU) in the fourth quarter, Holdings Channel reports. The institutional investor bought 11,397 shares of the financial services provider’s stock, valued at approximately $1,351,000.

A number of other institutional investors also recently modified their holdings of PRU. Tower Bridge Advisors raised its position in Prudential Financial by 1.3% in the 4th quarter. Tower Bridge Advisors now owns 8,650 shares of the financial services provider’s stock worth $1,025,000 after purchasing an additional 108 shares during the last quarter. Private Trust Co. NA raised its position in Prudential Financial by 7.7% in the 4th quarter. Private Trust Co. NA now owns 4,407 shares of the financial services provider’s stock worth $522,000 after purchasing an additional 315 shares during the last quarter. Verus Capital Partners LLC bought a new position in Prudential Financial in the 4th quarter worth approximately $202,000. QRG Capital Management Inc. raised its position in Prudential Financial by 10.3% in the 4th quarter. QRG Capital Management Inc. now owns 54,902 shares of the financial services provider’s stock worth $6,508,000 after purchasing an additional 5,123 shares during the last quarter. Finally, Versor Investments LP raised its position in Prudential Financial by 374.2% in the 4th quarter. Versor Investments LP now owns 28,265 shares of the financial services provider’s stock worth $3,350,000 after purchasing an additional 22,304 shares during the last quarter. Institutional investors own 56.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PRU. Morgan Stanley dropped their price objective on shares of Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating for the company in a research report on Friday. Jefferies Financial Group upped their target price on shares of Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Piper Sandler dropped their target price on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Evercore ISI upgraded shares of Prudential Financial from an “underperform” rating to an “inline” rating and upped their target price for the company from $117.00 to $140.00 in a research report on Thursday, November 14th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of Prudential Financial from $129.00 to $125.00 and set a “market perform” rating for the company in a research report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Prudential Financial currently has a consensus rating of “Hold” and a consensus target price of $126.15.

Prudential Financial Price Performance

Shares of PRU stock opened at $115.07 on Monday. Prudential Financial, Inc. has a 12-month low of $104.44 and a 12-month high of $130.55. The firm has a market capitalization of $41.20 billion, a price-to-earnings ratio of 15.40, a price-to-earnings-growth ratio of 0.98 and a beta of 1.31. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.68. The firm has a fifty day moving average of $116.35 and a 200-day moving average of $119.90.

Prudential Financial (NYSE:PRU) last announced its quarterly 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%. On average, equities research analysts forecast that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Increases Dividend

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