Avantax Planning Partners Inc. Decreases Stake in Prudential Financial, Inc. (NYSE:PRU)

Avantax Planning Partners Inc. reduced its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 2.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,449 shares of the financial services provider’s stock after selling 317 shares during the period. Avantax Planning Partners Inc.’s holdings in Prudential Financial were worth $1,476,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Miller Financial Services LLC purchased a new stake in shares of Prudential Financial during the 4th quarter worth $229,000. King Luther Capital Management Corp boosted its position in shares of Prudential Financial by 4.0% during the 4th quarter. King Luther Capital Management Corp now owns 14,158 shares of the financial services provider’s stock worth $1,678,000 after purchasing an additional 549 shares in the last quarter. Independent Advisor Alliance boosted its position in shares of Prudential Financial by 9.8% during the 4th quarter. Independent Advisor Alliance now owns 18,108 shares of the financial services provider’s stock worth $2,146,000 after purchasing an additional 1,617 shares in the last quarter. Johnson Investment Counsel Inc. boosted its position in shares of Prudential Financial by 2.7% in the 4th quarter. Johnson Investment Counsel Inc. now owns 7,640 shares of the financial services provider’s stock worth $906,000 after buying an additional 201 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its position in shares of Prudential Financial by 6.3% in the 4th quarter. Daiwa Securities Group Inc. now owns 46,915 shares of the financial services provider’s stock worth $5,561,000 after buying an additional 2,772 shares in the last quarter. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Prudential Financial Trading Down 0.6 %

NYSE PRU opened at $105.66 on Wednesday. Prudential Financial, Inc. has a 12 month low of $104.45 and a 12 month high of $130.55. The company has a 50-day moving average of $115.04 and a 200-day moving average of $119.64. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.16 and a quick ratio of 0.16. The company has a market cap of $37.82 billion, a P/E ratio of 14.14, a P/E/G ratio of 0.98 and a beta of 1.28.

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 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%. As a group, equities analysts predict that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Increases Dividend

The business also recently disclosed 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 represents a $5.40 dividend on an annualized basis and a dividend yield of 5.11%. This is an increase from Prudential Financial’s previous quarterly dividend of $1.30. Prudential Financial’s dividend payout ratio is currently 72.29%.

Analysts Set New Price Targets

PRU has been the topic of several recent research reports. Jefferies Financial Group boosted their price objective on shares of Prudential Financial from $149.00 to $152.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Keefe, Bruyette & Woods decreased their price objective on shares of Prudential Financial from $129.00 to $125.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 12th. Morgan Stanley decreased their price objective on shares of Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating on the stock in a research report on Friday, February 28th. TD Cowen boosted their price objective on shares of Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a research report on Wednesday, November 27th. Finally, Evercore ISI upgraded shares of Prudential Financial from an “underperform” rating to an “inline” rating and boosted their price objective for the stock from $117.00 to $140.00 in a research report on Thursday, November 14th. One analyst has rated the stock with a sell rating, ten have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Prudential Financial currently has an average rating of “Hold” and a consensus target price of $126.15.

Prudential Financial Company 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.