Palacios Wealth Management LLC Takes $335,000 Position in Prudential Financial, Inc. (NYSE:PRU)

Palacios Wealth Management LLC acquired a new position in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 2,799 shares of the financial services provider's stock, valued at approximately $335,000.

Other institutional investors have also recently modified their holdings of the company. Grove Bank & Trust raised its position in shares of Prudential Financial by 65.9% during the 4th quarter. Grove Bank & Trust now owns 219 shares of the financial services provider's stock worth $26,000 after purchasing an additional 87 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in Prudential Financial in the 3rd quarter worth approximately $31,000. CGC Financial Services LLC grew its stake in Prudential Financial by 82.1% in the 4th 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. Wingate Wealth Advisors Inc. purchased a new stake in Prudential Financial in the 4th quarter worth approximately $33,000. Finally, Quarry LP grew its stake in Prudential Financial by 376.3% in the 3rd quarter. Quarry LP now owns 281 shares of the financial services provider's stock worth $34,000 after acquiring an additional 222 shares during the period. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, major shareholder Insurance Co Of Ame Prudential acquired 537,249 shares of the business's stock in a transaction on Monday, November 25th. The shares were purchased at an average price of $27.92 per share, for a total transaction of $14,999,992.08. Following the acquisition, the insider now directly owns 4,780,293 shares of the company's stock, valued at $133,465,780.56. This represents a 12.66 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.31% of the stock is currently owned by company insiders.

Prudential Financial Stock Up 0.1 %

Prudential Financial stock traded up $0.15 during trading on Tuesday, reaching $111.71. 1,400,852 shares of the company's stock were exchanged, compared to its average volume of 1,713,369. The company's 50-day moving average is $117.65 and its two-hundred day moving average is $119.70. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.14 and a current ratio of 0.16. Prudential Financial, Inc. has a 52-week low of $104.44 and a 52-week high of $130.55. The firm has a market cap of $39.77 billion, a price-to-earnings ratio of 14.95, a PEG ratio of 1.00 and a beta of 1.31.

Prudential Financial (NYSE:PRU - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share for the quarter, missing analysts' consensus estimates 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, analysts predict that Prudential Financial, Inc. will post 14.38 earnings per share for the current year.

Prudential Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th will be issued a $1.35 dividend. The ex-dividend date is Tuesday, February 18th. This represents a $5.40 dividend on an annualized basis and a yield of 4.83%. This is a positive change from Prudential Financial's previous quarterly dividend of $1.30. Prudential Financial's payout ratio is currently 69.61%.

Analyst Upgrades and Downgrades

Several research firms have commented on PRU. Wells Fargo & Company lowered their target price on shares of Prudential Financial from $117.00 to $115.00 and set an "equal weight" rating for the company in a research note on Tuesday, January 14th. Evercore ISI raised shares of Prudential Financial from an "underperform" rating to an "inline" rating and lifted their target price for the stock from $117.00 to $140.00 in a research note 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 price objective for the company. Jefferies Financial Group boosted their price objective 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. Finally, TD Cowen boosted their price objective on shares of Prudential Financial from $130.00 to $133.00 and gave the company a "hold" rating in a research note on Wednesday, November 27th. One analyst has rated the stock with a sell rating, ten have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $125.46.

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.