First Business Financial Services Inc. Buys 1,142 Shares of Prudential Financial, Inc. (NYSE:PRU)

First Business Financial Services Inc. boosted its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 6.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 18,528 shares of the financial services provider’s stock after buying an additional 1,142 shares during the period. First Business Financial Services Inc.’s holdings in Prudential Financial were worth $2,196,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in PRU. Grove Bank & Trust boosted its stake in Prudential Financial by 65.9% during the fourth quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock valued at $26,000 after buying an additional 87 shares during the period. Centricity Wealth Management LLC bought a new stake in Prudential Financial during the fourth quarter valued at $29,000. Ashton Thomas Securities LLC bought a new stake in Prudential Financial during the third quarter valued at $31,000. CGC Financial Services LLC boosted its stake 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 valued at $33,000 after buying an additional 124 shares during the period. Finally, Wingate Wealth Advisors Inc. bought a new stake in Prudential Financial during the fourth quarter valued at $33,000. Institutional investors own 56.83% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on PRU. Piper Sandler dropped their price objective 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. Morgan Stanley lowered their price target on Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating on the stock in a research report on Friday, February 28th. Wells Fargo & Company raised their price target on Prudential Financial from $113.00 to $118.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 19th. BMO Capital Markets initiated coverage on Prudential Financial in a research report on Thursday, January 23rd. They set an “underperform” rating and a $101.00 price target on the stock. Finally, Jefferies Financial Group raised their price target on Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Prudential Financial has an average rating of “Hold” and an average price target of $126.15.

Prudential Financial Stock Up 1.2 %

PRU opened at $110.90 on Thursday. The company has a market cap of $39.70 billion, a P/E ratio of 14.85, a P/E/G ratio of 0.98 and a beta of 1.31. The business’s 50-day moving average price is $115.89 and its 200-day moving average price is $119.80. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.68. Prudential Financial, Inc. has a 12 month low of $104.44 and a 12 month high of $130.55.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.96 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%. On average, equities analysts expect that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Tuesday, February 18th will be issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 4.87%. The ex-dividend date of this dividend is Tuesday, February 18th. This is an increase from Prudential Financial’s previous quarterly dividend of $1.30. Prudential Financial’s payout ratio is currently 72.29%.

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.