Prudential Financial, Inc. (NYSE:PRU) Shares Bought by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. grew its stake in Prudential Financial, Inc. (NYSE:PRU) by 1.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,409,521 shares of the financial services provider’s stock after acquiring an additional 26,210 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Prudential Financial were worth $285,601,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Grove Bank & Trust boosted its holdings in Prudential Financial by 65.9% in the 4th quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 87 shares during the last quarter. Centricity Wealth Management LLC purchased a new stake in shares of Prudential Financial during the 4th quarter valued at approximately $29,000. Ashton Thomas Securities LLC acquired a new position in Prudential Financial in the third quarter valued at approximately $31,000. CGC Financial Services LLC grew its position in Prudential Financial by 82.1% in the fourth quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 124 shares during the period. Finally, Wingate Wealth Advisors Inc. acquired a new stake in Prudential Financial during the fourth quarter worth $33,000. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Analyst Ratings Changes

PRU has been the subject of a number of research analyst reports. Evercore ISI upgraded Prudential Financial from an “underperform” rating to an “inline” rating and increased their price target for the stock from $117.00 to $140.00 in a report on Thursday, November 14th. BMO Capital Markets initiated coverage on shares of Prudential Financial in a research note on Thursday, January 23rd. They set an “underperform” rating and a $101.00 target price for the company. Jefferies Financial Group upped their price objective on shares of Prudential Financial from $149.00 to $152.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Keefe, Bruyette & Woods dropped their target price on shares of Prudential Financial from $129.00 to $125.00 and set a “market perform” rating for the company in a report on Wednesday, February 12th. Finally, Piper Sandler decreased their price target on Prudential Financial from $127.00 to $124.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $126.15.

Prudential Financial Stock Up 1.2 %

Prudential Financial stock opened at $110.90 on Thursday. The stock has a market cap of $39.70 billion, a PE ratio of 14.85, a P/E/G ratio of 0.98 and a beta of 1.31. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.16 and a quick ratio of 0.16. The stock’s fifty day moving average is $115.89 and its two-hundred day moving average is $119.80. Prudential Financial, Inc. has a 1-year low of $104.44 and a 1-year high of $130.55.

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 return on equity of 15.86% and a net margin of 4.01%. On average, 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 announced 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 4.87%. 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 72.29%.

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.