Great Lakes Advisors LLC Trims Stock Holdings in Prudential Financial, Inc. (NYSE:PRU)

Great Lakes Advisors LLC cut its position in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 2.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 506,174 shares of the financial services provider's stock after selling 10,709 shares during the period. Great Lakes Advisors LLC owned approximately 0.14% of Prudential Financial worth $59,997,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of PRU. Savant Capital LLC lifted its holdings in shares of Prudential Financial by 0.6% in the 4th quarter. Savant Capital LLC now owns 14,382 shares of the financial services provider's stock valued at $1,705,000 after buying an additional 83 shares during the period. Grove Bank & Trust lifted its stake in shares of 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 period. Asset Dedication LLC grew its position in Prudential Financial by 28.4% during the fourth quarter. Asset Dedication LLC now owns 420 shares of the financial services provider's stock valued at $50,000 after buying an additional 93 shares during the period. RNC Capital Management LLC raised its position in shares of Prudential Financial by 3.3% in the fourth quarter. RNC Capital Management LLC now owns 2,990 shares of the financial services provider's stock worth $354,000 after acquiring an additional 95 shares during the period. Finally, Hardy Reed LLC boosted its stake in shares of Prudential Financial by 1.6% during the 3rd quarter. Hardy Reed LLC now owns 6,202 shares of the financial services provider's stock worth $751,000 after acquiring an additional 98 shares in the last quarter. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Prudential Financial Stock Down 0.6 %

NYSE PRU opened at $105.66 on Wednesday. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.68. Prudential Financial, Inc. has a 52 week low of $104.45 and a 52 week high of $130.55. The business's fifty day simple moving average is $115.04 and its 200-day simple moving average is $119.64. The firm has a market cap of $37.82 billion, a PE ratio of 14.14, a P/E/G ratio of 0.98 and a beta of 1.28.

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Prudential Financial (NYSE:PRU - Get Free Report) last posted its quarterly 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 anticipate that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Tuesday, February 18th will be issued a $1.35 dividend. This is a positive change from Prudential Financial's previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a yield of 5.11%. The ex-dividend date of this dividend is Tuesday, February 18th. Prudential Financial's payout ratio is 72.29%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on PRU shares. Wells Fargo & Company lifted their price target on Prudential Financial from $113.00 to $118.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 19th. BMO Capital Markets assumed coverage on shares of Prudential Financial in a report on Thursday, January 23rd. They set an "underperform" rating and a $101.00 price objective on the stock. Evercore ISI raised shares of Prudential Financial from an "underperform" rating to an "inline" rating and boosted their target price for the stock from $117.00 to $140.00 in a research note on Thursday, November 14th. Keefe, Bruyette & Woods lowered their price objective on Prudential Financial from $129.00 to $125.00 and set a "market perform" rating on the stock in a report on Wednesday, February 12th. Finally, Piper Sandler reduced their target price on Prudential Financial from $127.00 to $124.00 and set a "neutral" rating for the company in a report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Prudential Financial presently has a consensus rating of "Hold" and an average target price of $126.15.

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.

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