Roxbury Financial LLC Makes New Investment in Prudential Financial, Inc. (NYSE:PRU)

Roxbury Financial LLC bought a new position in Prudential Financial, Inc. (NYSE:PRU) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 15,180 shares of the financial services provider’s stock, valued at approximately $1,965,000. Prudential Financial comprises 1.9% of Roxbury Financial LLC’s holdings, making the stock its 14th biggest position.

Other large investors have also recently made changes to their positions in the company. Glenmede Trust Co. NA boosted its holdings in shares of 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 worth $2,176,000 after acquiring an additional 1,234 shares during the period. Avanza Fonder AB bought a new stake in Prudential Financial during the fourth quarter valued at $3,423,000. Gateway Investment Advisers LLC boosted its stake in Prudential Financial by 56.1% during 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 during the period. Principal Financial Group Inc. boosted its stake in Prudential Financial by 3.9% during 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 during the period. Finally, Janus Henderson Group PLC boosted its stake in Prudential Financial by 2.3% during 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 during the period. 56.83% of the stock is owned by institutional investors.

Prudential Financial Stock Down 0.3 %

Shares of NYSE:PRU opened at $111.54 on Friday. Prudential Financial, Inc. has a 1 year low of $104.44 and a 1 year high of $130.55. The company has a market cap of $39.71 billion, a PE ratio of 14.93, a P/E/G ratio of 1.00 and a beta of 1.31. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.16 and a quick ratio of 0.14. The stock’s 50-day moving average is $118.17 and its 200 day moving average is $119.95.

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 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%. Sell-side analysts anticipate that Prudential Financial, Inc. will post 14.38 EPS for the current year.

Prudential Financial Increases Dividend

The firm 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 $1.35 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This is a boost from Prudential Financial’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a yield of 4.84%. Prudential Financial’s dividend payout ratio is 69.61%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PRU. Jefferies Financial Group lifted their price objective on Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Piper Sandler dropped their price target on Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. BMO Capital Markets initiated coverage on Prudential Financial in a research note on Thursday, January 23rd. They set an “underperform” rating and a $101.00 price target for the company. Barclays lifted 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. Finally, Keefe, Bruyette & Woods dropped their price target on Prudential Financial from $129.00 to $125.00 and set a “market perform” rating for the company in a research note on Wednesday. One analyst has rated the stock with a sell rating, ten have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $125.46.

Insider Buying and Selling at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential acquired 537,249 shares of Prudential Financial stock in a transaction dated Monday, November 25th. The stock was purchased at an average cost of $27.92 per share, for a total transaction of $14,999,992.08. Following the purchase, the insider now directly owns 4,780,293 shares of the company’s stock, valued at approximately $133,465,780.56. This trade represents a 12.66 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.31% of the company’s stock.

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.