Pinnacle Associates Ltd. trimmed its holdings in shares of Prudential Financial Inc (NYSE:PRU) by 1.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 48,818 shares of the financial services provider’s stock after selling 583 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Prudential Financial were worth $3,981,000 as of its most recent filing with the SEC.
A number of other large investors have also added to or reduced their stakes in PRU. Baldwin Brothers Inc. MA increased its holdings in Prudential Financial by 146.7% in the 4th quarter. Baldwin Brothers Inc. MA now owns 454 shares of the financial services provider’s stock valued at $37,000 after buying an additional 270 shares during the period. Manchester Capital Management LLC increased its holdings in Prudential Financial by 30.1% in the 4th quarter. Manchester Capital Management LLC now owns 665 shares of the financial services provider’s stock valued at $62,000 after buying an additional 154 shares during the period. TCI Wealth Advisors Inc. increased its holdings in Prudential Financial by 39.7% in the 4th quarter. TCI Wealth Advisors Inc. now owns 676 shares of the financial services provider’s stock valued at $55,000 after buying an additional 192 shares during the period. Bedel Financial Consulting Inc. increased its holdings in Prudential Financial by 81.4% in the 4th quarter. Bedel Financial Consulting Inc. now owns 778 shares of the financial services provider’s stock valued at $63,000 after buying an additional 349 shares during the period. Finally, First Mercantile Trust Co. increased its holdings in Prudential Financial by 68.1% in the 4th quarter. First Mercantile Trust Co. now owns 790 shares of the financial services provider’s stock valued at $64,000 after buying an additional 320 shares during the period. 66.23% of the stock is currently owned by institutional investors and hedge funds.
Shares of PRU stock opened at $91.50 on Tuesday. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $37.85 billion, a PE ratio of 7.83, a PEG ratio of 0.79 and a beta of 1.41. Prudential Financial Inc has a fifty-two week low of $75.61 and a fifty-two week high of $113.03.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 14th. Stockholders of record on Wednesday, February 20th will be issued a $1.00 dividend. The ex-dividend date of this dividend is Tuesday, February 19th. This is a positive change from Prudential Financial’s previous quarterly dividend of $0.90. This represents a $4.00 dividend on an annualized basis and a dividend yield of 4.37%. Prudential Financial’s dividend payout ratio is currently 30.80%.
Several research firms have commented on PRU. Morgan Stanley decreased their target price on shares of Prudential Financial from $122.00 to $120.00 and set an “equal weight” rating on the stock in a report on Thursday, November 8th. Zacks Investment Research lowered shares of Prudential Financial from a “buy” rating to a “hold” rating in a report on Wednesday, November 14th. ValuEngine lowered shares of Prudential Financial from a “sell” rating to a “strong sell” rating in a report on Friday, November 16th. Evercore ISI raised shares of Prudential Financial from an “in-line” rating to an “outperform” rating and set a $85.50 target price on the stock in a report on Wednesday, January 9th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and issued a $113.00 target price on shares of Prudential Financial in a report on Wednesday, January 9th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $114.19.
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About Prudential Financial
Prudential Financial, Inc, through its subsidiaries, provides insurance, investment management, and other financial products and services in the United States and internationally. It operates through U.S. Individual Solutions, U.S. Workplace Solutions, Investment Management, and International Insurance divisions.
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