Commerzbank Aktiengesellschaft FI Has $2.58 Million Stock Position in Prudential Financial, Inc. (NYSE:PRU)

Commerzbank Aktiengesellschaft FI increased its stake in Prudential Financial, Inc. (NYSE:PRU) by 7.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 21,788 shares of the financial services provider’s stock after purchasing an additional 1,509 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Prudential Financial were worth $2,575,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in PRU. Grove Bank & Trust lifted its stake in Prudential Financial by 65.9% in the fourth quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 87 shares during the last quarter. Centricity Wealth Management LLC bought a new stake in shares of Prudential Financial in the 4th quarter valued at about $29,000. Ashton Thomas Securities LLC acquired a new stake in Prudential Financial in the 3rd quarter valued at about $31,000. CGC Financial Services LLC grew its holdings in Prudential Financial by 82.1% during the fourth quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 124 shares during the period. Finally, Wingate Wealth Advisors Inc. bought a new stake in Prudential Financial in the fourth quarter valued at approximately $33,000. 56.83% of the stock is owned by institutional investors.

Prudential Financial Stock Performance

PRU opened at $113.37 on Tuesday. 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, Inc. has a 52-week low of $104.44 and a 52-week high of $130.55. The firm has a market cap of $40.59 billion, a P/E ratio of 15.18, a price-to-earnings-growth ratio of 0.98 and a beta of 1.31. The business’s fifty day moving average is $116.25 and its 200-day moving average is $119.90.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share 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%. Sell-side analysts expect that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Increases Dividend

The business also recently declared 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%. This is a boost 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 presently 72.29%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PRU. Piper Sandler cut 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. TD Cowen lifted their target price 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. BMO Capital Markets initiated coverage on shares of Prudential Financial in a report on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 price target on the stock. Evercore ISI upgraded Prudential Financial from an “underperform” rating to an “inline” rating and boosted their price objective for the stock from $117.00 to $140.00 in a report on Thursday, November 14th. Finally, Keefe, Bruyette & Woods lowered their target price 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. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Prudential Financial has a consensus rating of “Hold” and a consensus price target of $126.15.

About Prudential Financial

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.