Marietta Wealth Management LLC grew its stake in Prudential Financial, Inc. (NYSE:PRU) by 4.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 20,156 shares of the financial services provider’s stock after buying an additional 818 shares during the quarter. Marietta Wealth Management LLC’s holdings in Prudential Financial were worth $1,574,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its holdings in Prudential Financial by 7.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,118,377 shares of the financial services provider’s stock worth $325,120,000 after purchasing an additional 352,374 shares during the period. Morgan Stanley raised its holdings in shares of Prudential Financial by 12.8% during the third quarter. Morgan Stanley now owns 4,648,070 shares of the financial services provider’s stock valued at $295,245,000 after acquiring an additional 527,368 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Prudential Financial by 3.5% during the third quarter. Arrowstreet Capital Limited Partnership now owns 4,127,287 shares of the financial services provider’s stock valued at $262,165,000 after acquiring an additional 138,567 shares during the last quarter. Nuveen Asset Management LLC raised its holdings in shares of Prudential Financial by 0.4% during the third quarter. Nuveen Asset Management LLC now owns 3,132,407 shares of the financial services provider’s stock valued at $198,971,000 after acquiring an additional 13,546 shares during the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of Prudential Financial by 337.4% during the fourth quarter. Principal Financial Group Inc. now owns 2,682,310 shares of the financial services provider’s stock valued at $209,408,000 after acquiring an additional 2,069,010 shares during the last quarter. 54.50% of the stock is owned by institutional investors and hedge funds.
In related news, Director Wendy Elizabeth Jones acquired 1,000 shares of Prudential Financial stock in a transaction dated Tuesday, February 9th. The shares were acquired at an average cost of $80.98 per share, for a total transaction of $80,980.00. Following the completion of the purchase, the director now owns 1,000 shares in the company, valued at $80,980. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.33% of the stock is currently owned by company insiders.
Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Thursday, February 4th. The financial services provider reported $2.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.50 by $0.43. Prudential Financial had a positive return on equity of 6.06% and a negative net margin of 0.12%. On average, analysts expect that Prudential Financial, Inc. will post 9.82 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 11th. Stockholders of record on Tuesday, February 16th will be paid a $1.15 dividend. This is a boost from Prudential Financial’s previous quarterly dividend of $1.10. This represents a $4.60 annualized dividend and a dividend yield of 5.38%. The ex-dividend date is Friday, February 12th. Prudential Financial’s dividend payout ratio (DPR) is presently 39.35%.
A number of brokerages have commented on PRU. Zacks Investment Research cut Prudential Financial from a “hold” rating to a “sell” rating and set a $84.00 target price for the company. in a report on Tuesday, February 9th. Royal Bank of Canada upped their price target on Prudential Financial from $70.00 to $82.00 and gave the company a “sector perform” rating in a research report on Monday, February 8th. TheStreet lowered Prudential Financial from a “b-” rating to a “c” rating in a research report on Thursday, February 4th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upgraded Prudential Financial from a “sell” rating to a “neutral” rating and upped their price target for the company from $58.00 to $80.00 in a research report on Tuesday, December 8th. Finally, The Goldman Sachs Group assumed coverage on Prudential Financial in a research report on Friday, December 4th. They issued a “buy” rating and a $88.00 price target for the company. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $77.85.
About Prudential Financial
Prudential Financial, Inc, through its subsidiaries, provides insurance, investment management, and other financial products and services. It operates through eight segments: PGIM, Retirement, Group Insurance, Individual Annuities, Individual Life, Assurance IQ, International Businesses, and Closed Block.
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