Checchi Capital Advisers LLC Has $590,000 Stock Position in Prudential Financial, Inc. (NYSE:PRU)

Checchi Capital Advisers LLC boosted its stake in Prudential Financial, Inc. (NYSE:PRU) by 3.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 4,980 shares of the financial services provider’s stock after buying an additional 180 shares during the period. Checchi Capital Advisers LLC’s holdings in Prudential Financial were worth $590,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of PRU. Nordea Investment Management AB grew its stake in Prudential Financial by 176.8% in the 4th quarter. Nordea Investment Management AB now owns 1,041,420 shares of the financial services provider’s stock valued at $123,804,000 after buying an additional 665,180 shares during the last quarter. FMR LLC grew its stake in Prudential Financial by 31.3% in the 3rd quarter. FMR LLC now owns 1,444,288 shares of the financial services provider’s stock valued at $174,903,000 after buying an additional 344,254 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Prudential Financial by 4.1% in the 3rd quarter. Geode Capital Management LLC now owns 8,662,679 shares of the financial services provider’s stock valued at $1,047,872,000 after purchasing an additional 341,787 shares during the period. Capital Advisors Inc. OK bought a new stake in Prudential Financial in the 3rd quarter valued at about $30,226,000. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in Prudential Financial by 241.8% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 214,456 shares of the financial services provider’s stock valued at $25,971,000 after purchasing an additional 151,710 shares during the period. Institutional investors and hedge funds own 56.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Evercore ISI raised shares of Prudential Financial from an “underperform” rating to an “inline” rating and boosted their price objective for the company from $117.00 to $140.00 in a report on Thursday, November 14th. TD Cowen boosted their price objective 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. Keefe, Bruyette & Woods cut their price objective on shares of Prudential Financial from $129.00 to $125.00 and set a “market perform” rating for the company in a report on Wednesday, February 12th. BMO Capital Markets assumed coverage on shares of Prudential Financial in a report on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 price objective for the company. Finally, Wells Fargo & Company upped their price target on shares of Prudential Financial from $113.00 to $118.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Prudential Financial has an average rating of “Hold” and an average target price of $125.69.

Prudential Financial Price Performance

PRU stock opened at $111.81 on Thursday. The company has a 50 day simple moving average of $116.46 and a 200 day simple moving average of $119.77. The stock has a market cap of $40.03 billion, a price-to-earnings ratio of 14.97, a P/E/G ratio of 0.98 and a beta of 1.31. Prudential Financial, Inc. has a 1 year low of $104.44 and a 1 year high of $130.55. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.16 and a quick ratio of 0.16.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data 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%. Research analysts anticipate that Prudential Financial, Inc. will post 14.36 EPS 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 4.83%. This is a boost from Prudential Financial’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Tuesday, February 18th. Prudential Financial’s dividend payout ratio is currently 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.