Prudential Financial, Inc. (NYSE:PRU) Shares Sold by Tacita Capital Inc

Tacita Capital Inc reduced its stake in Prudential Financial, Inc. (NYSE:PRU) by 42.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 305 shares of the financial services provider’s stock after selling 225 shares during the period. Tacita Capital Inc’s holdings in Prudential Financial were worth $36,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Glenmede Trust Co. NA raised its stake in Prudential Financial by 7.4% in the third quarter. Glenmede Trust Co. NA now owns 17,968 shares of the financial services provider’s stock valued at $2,176,000 after buying an additional 1,234 shares in the last quarter. Avanza Fonder AB acquired a new stake in Prudential Financial in the fourth quarter valued at $3,423,000. Gateway Investment Advisers LLC raised its stake in Prudential Financial by 56.1% in the fourth quarter. Gateway Investment Advisers LLC now owns 21,998 shares of the financial services provider’s stock valued at $2,607,000 after buying an additional 7,907 shares in the last quarter. Principal Financial Group Inc. raised its stake in Prudential Financial by 3.9% in the third quarter. Principal Financial Group Inc. now owns 419,733 shares of the financial services provider’s stock valued at $50,830,000 after buying an additional 15,695 shares in the last quarter. Finally, Janus Henderson Group PLC raised its stake in Prudential Financial by 2.3% in the third quarter. Janus Henderson Group PLC now owns 79,256 shares of the financial services provider’s stock valued at $9,597,000 after buying an additional 1,765 shares in the last quarter. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have weighed in on PRU. Wells Fargo & Company raised their price target on Prudential Financial from $113.00 to $118.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 19th. TD Cowen raised their price objective on Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a report on Wednesday, November 27th. Barclays raised their price objective on Prudential Financial from $128.00 to $134.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 5th. Evercore ISI raised Prudential Financial from an “underperform” rating to an “inline” rating and raised their price objective for the stock from $117.00 to $140.00 in a report on Thursday, November 14th. Finally, Morgan Stanley dropped their price objective on Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating on the stock in a report on Friday. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $126.15.

Prudential Financial Stock Performance

NYSE PRU opened at $113.37 on Tuesday. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.68. Prudential Financial, Inc. has a 52-week low of $104.44 and a 52-week high of $130.55. The business’s 50-day moving average price is $116.25 and its 200 day moving average price is $119.90. The firm has a market cap of $40.59 billion, a P/E ratio of 15.18, a P/E/G ratio of 0.98 and a beta of 1.31.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results 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%. On average, equities research 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 disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th will be issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 4.76%. The ex-dividend date of this dividend is Tuesday, February 18th. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.30. Prudential Financial’s payout ratio is currently 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.