West Michigan Advisors LLC Has $261,000 Holdings in Prudential Financial, Inc. (NYSE:PRU)

West Michigan Advisors LLC trimmed its stake in Prudential Financial, Inc. (NYSE:PRU) by 4.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 2,201 shares of the financial services provider’s stock after selling 98 shares during the quarter. West Michigan Advisors LLC’s holdings in Prudential Financial were worth $261,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Fisher Asset Management LLC grew its holdings in shares of Prudential Financial by 52.7% in the 4th quarter. Fisher Asset Management LLC now owns 3,619 shares of the financial services provider’s stock worth $429,000 after purchasing an additional 1,249 shares during the last quarter. SVB Wealth LLC acquired a new position in Prudential Financial in the fourth quarter valued at about $1,351,000. Tower Bridge Advisors grew its stake in Prudential Financial by 1.3% during the fourth quarter. Tower Bridge Advisors now owns 8,650 shares of the financial services provider’s stock worth $1,025,000 after buying an additional 108 shares during the last quarter. Private Trust Co. NA increased its holdings in shares of Prudential Financial by 7.7% during the fourth quarter. Private Trust Co. NA now owns 4,407 shares of the financial services provider’s stock worth $522,000 after buying an additional 315 shares in the last quarter. Finally, Verus Capital Partners LLC acquired a new position in shares of Prudential Financial in the 4th quarter worth approximately $202,000. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PRU. 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 report on Thursday, January 16th. Jefferies Financial Group lifted their price target on Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. TD Cowen increased their price objective on shares of Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a report on Wednesday, November 27th. Wells Fargo & Company boosted their target price on shares of Prudential Financial from $113.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 19th. Finally, Morgan Stanley decreased their price target on shares of Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating on the stock in a research note on Friday. 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 given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $126.15.

Prudential Financial Price Performance

Shares of PRU stock opened at $115.07 on Friday. The firm’s 50 day moving average price is $116.35 and its two-hundred day moving average price is $119.84. The stock has a market cap of $41.20 billion, a PE ratio of 15.40, a PEG ratio of 0.98 and a beta of 1.31. Prudential Financial, Inc. has a 52-week low of $104.44 and a 52-week high of $130.55. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.16 and a current ratio of 0.16.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data 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%. As a group, analysts forecast that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Increases Dividend

The company also recently declared 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. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.69%. This is an increase from Prudential Financial’s previous quarterly dividend of $1.30. The ex-dividend date is Tuesday, February 18th. Prudential Financial’s dividend payout ratio (DPR) is currently 72.29%.

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.