Tower Bridge Advisors Raises Holdings in Prudential Financial, Inc. (NYSE:PRU)

Tower Bridge Advisors boosted its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 1.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,650 shares of the financial services provider’s stock after acquiring an additional 108 shares during the quarter. Tower Bridge Advisors’ holdings in Prudential Financial were worth $1,025,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Glenmede Trust Co. NA lifted its stake in shares of Prudential Financial by 7.4% in the 3rd quarter. Glenmede Trust Co. NA now owns 17,968 shares of the financial services provider’s stock valued at $2,176,000 after purchasing an additional 1,234 shares during the period. Avanza Fonder AB purchased a new position in Prudential Financial in the fourth quarter valued at $3,423,000. Gateway Investment Advisers LLC boosted its stake in shares of Prudential Financial by 56.1% during the 4th quarter. Gateway Investment Advisers LLC now owns 21,998 shares of the financial services provider’s stock worth $2,607,000 after acquiring an additional 7,907 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Prudential Financial by 3.9% during the 3rd quarter. Principal Financial Group Inc. now owns 419,733 shares of the financial services provider’s stock valued at $50,830,000 after acquiring an additional 15,695 shares during the period. Finally, Janus Henderson Group PLC increased its stake in shares of Prudential Financial by 2.3% in the 3rd quarter. Janus Henderson Group PLC now owns 79,256 shares of the financial services provider’s stock valued at $9,597,000 after purchasing an additional 1,765 shares in the last quarter. 56.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PRU has been the topic of several research analyst reports. Piper Sandler dropped their price objective on Prudential Financial from $127.00 to $124.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. TD Cowen boosted their price target 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. Morgan Stanley decreased their price objective on shares of Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating on the stock in a report on Friday. Barclays boosted their target price on shares of Prudential Financial from $128.00 to $134.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 5th. Finally, Jefferies Financial Group raised their price target on shares of Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $126.15.

Prudential Financial Trading Up 2.1 %

Shares of PRU stock opened at $115.07 on Friday. 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 twelve month low of $104.44 and a twelve month high of $130.55. The company’s 50-day moving average price is $116.35 and its 200-day moving average price is $119.77. The stock has a market cap of $41.20 billion, a price-to-earnings ratio of 15.40, a PEG ratio of 0.98 and a beta of 1.31.

Prudential Financial (NYSE:PRU) last posted its earnings results 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 net margin of 4.01% and a return on equity of 15.86%. As a group, equities analysts predict that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th will be paid a dividend of $1.35 per share. This is a boost from Prudential Financial’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $5.40 annualized dividend and a yield of 4.69%. Prudential Financial’s dividend payout ratio (DPR) is 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.