First Business Financial Services Inc. Increases Holdings in Prudential Financial, Inc. (NYSE:PRU)

First Business Financial Services Inc. raised its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 6.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 18,528 shares of the financial services provider’s stock after acquiring an additional 1,142 shares during the quarter. First Business Financial Services Inc.’s holdings in Prudential Financial were worth $2,196,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of PRU. Grove Bank & Trust boosted its position in 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 in the last quarter. Centricity Wealth Management LLC bought a new stake in Prudential Financial during the 4th quarter valued at approximately $29,000. Ashton Thomas Securities LLC bought a new stake in Prudential Financial during the 3rd quarter valued at approximately $31,000. CGC Financial Services LLC boosted its position in 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 in the last quarter. Finally, Wingate Wealth Advisors Inc. bought a new stake in Prudential Financial during the 4th quarter valued at approximately $33,000. 56.83% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on PRU shares. Piper Sandler cut their price objective on Prudential Financial from $127.00 to $124.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Wells Fargo & Company upped their price target on Prudential Financial from $113.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 19th. Barclays upped their price target on Prudential Financial from $128.00 to $134.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 5th. Jefferies Financial Group upped their price target on Prudential Financial from $149.00 to $152.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Finally, Morgan Stanley cut their price target on Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating on the stock in a research note on Friday, February 28th. 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 issued a strong buy rating to the stock. According to data from MarketBeat, Prudential Financial presently has a consensus rating of “Hold” and a consensus target price of $126.15.

Prudential Financial Stock Performance

Shares of PRU opened at $110.90 on Thursday. The business’s fifty day simple moving average is $115.89 and its two-hundred day simple moving average is $119.80. 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. The company has a market cap of $39.70 billion, a price-to-earnings ratio of 14.85, a P/E/G ratio of 0.98 and a beta of 1.31.

Prudential Financial (NYSE:PRU) last issued its earnings results 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 net margin of 4.01% and a return on equity of 15.86%. Research analysts anticipate that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th will be issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 4.87%. This is a boost from Prudential Financial’s previous quarterly dividend of $1.30. The ex-dividend date is Tuesday, February 18th. Prudential Financial’s dividend payout ratio is presently 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.