Raelipskie Partnership Grows Stake in Prudential Financial, Inc. (NYSE:PRU)

Raelipskie Partnership lifted its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 3.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,797 shares of the financial services provider’s stock after buying an additional 385 shares during the period. Raelipskie Partnership’s holdings in Prudential Financial were worth $1,398,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of PRU. AMF Tjanstepension AB boosted its position in shares of Prudential Financial by 12.5% during the third quarter. AMF Tjanstepension AB now owns 203,197 shares of the financial services provider’s stock valued at $24,642,000 after buying an additional 22,588 shares during the last quarter. Exchange Traded Concepts LLC purchased a new position in Prudential Financial in the third quarter worth about $252,000. Global Retirement Partners LLC boosted its position in Prudential Financial by 6.6% in the third quarter. Global Retirement Partners LLC now owns 5,968 shares of the financial services provider’s stock worth $723,000 after purchasing an additional 367 shares during the last quarter. Bleakley Financial Group LLC boosted its position in Prudential Financial by 4.2% in the third quarter. Bleakley Financial Group LLC now owns 8,795 shares of the financial services provider’s stock worth $1,065,000 after purchasing an additional 355 shares during the last quarter. Finally, Trust Co. of Vermont boosted its position in Prudential Financial by 13.6% in the third quarter. Trust Co. of Vermont now owns 912 shares of the financial services provider’s stock worth $110,000 after purchasing an additional 109 shares during the last quarter. 56.83% of the stock is owned by hedge funds and other institutional investors.

Prudential Financial Stock Performance

NYSE PRU opened at $111.54 on Monday. The stock has a market capitalization 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 business has a 50 day simple moving average of $117.87 and a two-hundred day simple moving average of $119.78. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.16 and a quick ratio of 0.14. Prudential Financial, Inc. has a 1-year low of $104.44 and a 1-year high of $130.55.

Prudential Financial (NYSE:PRU) last announced its earnings results on Tuesday, February 4th. The financial services provider reported $2.96 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, research analysts predict that Prudential Financial, Inc. will post 14.38 EPS for the current fiscal year.

Prudential Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th will be issued a $1.35 dividend. This is a boost from Prudential Financial’s previous quarterly dividend of $1.30. The ex-dividend date is Tuesday, February 18th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.84%. Prudential Financial’s payout ratio is 69.61%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PRU. Jefferies Financial Group raised their target price on Prudential Financial from $149.00 to $152.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Barclays raised their target price on Prudential Financial from $128.00 to $134.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 5th. Keefe, Bruyette & Woods decreased their price objective on 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. BMO Capital Markets assumed coverage on Prudential Financial in a research note on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 price objective on the stock. Finally, TD Cowen raised their price objective on Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a research note on Wednesday, November 27th. One 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 assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $125.46.

Insider Transactions at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential acquired 537,249 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was bought at an average price of $27.92 per share, for a total transaction of $14,999,992.08. Following the acquisition, the insider now directly owns 4,780,293 shares in the company, valued at $133,465,780.56. The trade was a 12.66 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.31% of the company’s stock.

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.