Bailard Inc. Increases Stake in Prudential Financial, Inc. (NYSE:PRU)

Bailard Inc. grew its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 2.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 12,401 shares of the financial services provider’s stock after buying an additional 355 shares during the period. Bailard Inc.’s holdings in Prudential Financial were worth $1,470,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Gladstone Institutional Advisory LLC increased its holdings in shares of Prudential Financial by 2.4% in the 3rd quarter. Gladstone Institutional Advisory LLC now owns 4,686 shares of the financial services provider’s stock valued at $568,000 after purchasing an additional 109 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Prudential Financial by 73.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 10,270 shares of the financial services provider’s stock valued at $1,244,000 after purchasing an additional 4,333 shares in the last quarter. Pure Financial Advisors LLC increased its holdings in shares of Prudential Financial by 2.7% in the 3rd quarter. Pure Financial Advisors LLC now owns 3,748 shares of the financial services provider’s stock valued at $454,000 after purchasing an additional 97 shares in the last quarter. Confluence Wealth Services Inc. increased its holdings in shares of Prudential Financial by 7.8% in the 3rd quarter. Confluence Wealth Services Inc. now owns 2,558 shares of the financial services provider’s stock valued at $310,000 after purchasing an additional 184 shares in the last quarter. Finally, Whitener Capital Management Inc. purchased a new position in shares of Prudential Financial in the 3rd quarter valued at about $240,000. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Prudential Financial Price Performance

Prudential Financial stock opened at $115.07 on Monday. Prudential Financial, Inc. has a 12-month low of $104.44 and a 12-month high of $130.55. The stock has a market capitalization of $41.20 billion, a P/E ratio of 15.40, a P/E/G ratio of 0.98 and a beta of 1.31. The firm’s 50-day moving average is $116.35 and its two-hundred day moving average is $119.90. 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 earnings results 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 return on equity of 15.86% and a net margin of 4.01%. 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 announced 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 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 dividend yield of 4.69%. Prudential Financial’s dividend payout ratio (DPR) is currently 72.29%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PRU. Morgan Stanley cut their price target on shares of Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating for the company in a report on Friday. Keefe, Bruyette & Woods lowered 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 note on Wednesday, February 12th. Evercore ISI raised shares of Prudential Financial from an “underperform” rating to an “inline” rating and increased their price objective for the company from $117.00 to $140.00 in a research note on Thursday, November 14th. Jefferies Financial Group increased their price objective on shares of Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Finally, Piper Sandler lowered their price objective on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target 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.