Raab & Moskowitz Asset Management LLC Has $677,000 Stock Position in Prudential Financial, Inc. (NYSE:PRU)

Raab & Moskowitz Asset Management LLC increased its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 1.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 6,531 shares of the financial services provider’s stock after purchasing an additional 118 shares during the period. Raab & Moskowitz Asset Management LLC’s holdings in Prudential Financial were worth $677,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of PRU. Cambridge Trust Co. lifted its position in shares of Prudential Financial by 77.2% during the 4th quarter. Cambridge Trust Co. now owns 241 shares of the financial services provider’s stock worth $25,000 after buying an additional 105 shares during the last quarter. Bruce G. Allen Investments LLC bought a new position in Prudential Financial in the fourth quarter valued at about $26,000. Headinvest LLC bought a new position in Prudential Financial in the third quarter valued at about $27,000. Arlington Trust Co LLC raised its position in Prudential Financial by 151.6% in the fourth quarter. Arlington Trust Co LLC now owns 307 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 185 shares during the last quarter. Finally, Kathleen S. Wright Associates Inc. bought a new position in Prudential Financial in the third quarter valued at about $38,000. 56.83% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on PRU. Keefe, Bruyette & Woods increased their target price on Prudential Financial from $112.00 to $118.00 and gave the company a “market perform” rating in a research report on Wednesday, April 10th. Raymond James downgraded Prudential Financial from a “strong-buy” rating to a “market perform” rating in a research report on Friday, February 9th. Morgan Stanley raised their price objective on Prudential Financial from $109.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. UBS Group raised their price objective on Prudential Financial from $108.00 to $112.00 and gave the stock a “neutral” rating in a research report on Monday, February 12th. Finally, Piper Sandler raised their price objective on Prudential Financial from $114.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday, April 5th. Two investment analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $111.42.

Prudential Financial Stock Down 0.6 %

Prudential Financial stock traded down $0.68 during mid-day trading on Friday, reaching $110.50. The stock had a trading volume of 1,110,106 shares, compared to its average volume of 1,226,730. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.13 and a current ratio of 0.13. Prudential Financial, Inc. has a fifty-two week low of $77.22 and a fifty-two week high of $118.69. The stock’s 50-day simple moving average is $111.75 and its 200-day simple moving average is $103.73. The firm has a market capitalization of $39.67 billion, a PE ratio of 16.52, a price-to-earnings-growth ratio of 0.75 and a beta of 1.37.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Tuesday, February 6th. The financial services provider reported $2.58 EPS for the quarter, missing analysts’ consensus estimates of $2.67 by ($0.09). The firm had revenue of $13.02 billion during the quarter, compared to analyst estimates of $12.99 billion. Prudential Financial had a net margin of 4.89% and a return on equity of 14.52%. The company’s revenue was up 6.7% on a year-over-year basis. During the same period last year, the business posted $2.42 EPS. On average, sell-side analysts forecast that Prudential Financial, Inc. will post 13.38 EPS for the current fiscal year.

Prudential Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Tuesday, February 20th were given a dividend of $1.30 per share. This is a boost from Prudential Financial’s previous quarterly dividend of $1.25. The ex-dividend date was Friday, February 16th. This represents a $5.20 annualized dividend and a dividend yield of 4.71%. Prudential Financial’s payout ratio is presently 77.73%.

Insider Activity at Prudential Financial

In related news, SVP Timothy L. Schmidt sold 7,912 shares of Prudential Financial stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $108.13, for a total transaction of $855,524.56. Following the transaction, the senior vice president now owns 14,754 shares of the company’s stock, valued at $1,595,350.02. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, EVP Andrew F. Sullivan sold 7,685 shares of Prudential Financial stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $111.57, for a total transaction of $857,415.45. Following the sale, the executive vice president now directly owns 13,691 shares in the company, valued at $1,527,504.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Timothy L. Schmidt sold 7,912 shares of Prudential Financial stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $108.13, for a total value of $855,524.56. Following the sale, the senior vice president now owns 14,754 shares in the company, valued at $1,595,350.02. The disclosure for this sale can be found here. Insiders have sold a total of 29,255 shares of company stock valued at $3,215,664 over the last 90 days. Insiders own 0.31% of the company’s stock.

Prudential Financial 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.