253,082 Shares in Prudential Financial, Inc. (NYSE:PRU) Purchased by Proficio Capital Partners LLC

Proficio Capital Partners LLC acquired a new stake in Prudential Financial, Inc. (NYSE:PRU - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The fund acquired 253,082 shares of the financial services provider's stock, valued at approximately $29,998,000. Proficio Capital Partners LLC owned approximately 0.07% of Prudential Financial at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Glenmede Trust Co. NA raised its stake in shares of Prudential Financial by 7.4% during the 3rd quarter. Glenmede Trust Co. NA now owns 17,968 shares of the financial services provider's stock valued at $2,176,000 after purchasing an additional 1,234 shares during the period. Avanza Fonder AB bought a new stake in shares of Prudential Financial during the fourth quarter valued at about $3,423,000. Gateway Investment Advisers LLC lifted its holdings in shares of Prudential Financial by 56.1% in the fourth quarter. Gateway Investment Advisers LLC now owns 21,998 shares of the financial services provider's stock worth $2,607,000 after buying an additional 7,907 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Prudential Financial by 3.9% in the third quarter. Principal Financial Group Inc. now owns 419,733 shares of the financial services provider's stock valued at $50,830,000 after acquiring an additional 15,695 shares during the period. Finally, Janus Henderson Group PLC increased its holdings in Prudential Financial by 2.3% during the 3rd quarter. Janus Henderson Group PLC now owns 79,256 shares of the financial services provider's stock worth $9,597,000 after acquiring an additional 1,765 shares during the period. Institutional investors own 56.83% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on PRU. Wells Fargo & Company upped their price target on shares of Prudential Financial from $113.00 to $118.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 19th. BMO Capital Markets started coverage on Prudential Financial in a research report on Thursday, January 23rd. They set an "underperform" rating and a $101.00 price target for the company. Barclays upped their price objective on shares of Prudential Financial from $128.00 to $134.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 5th. TD Cowen lifted their target price on shares of Prudential Financial from $130.00 to $133.00 and gave the company a "hold" rating in a research report on Wednesday, November 27th. Finally, Evercore ISI raised shares of 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. One analyst has rated the stock with a sell rating, ten have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $126.15.

Prudential Financial Trading Down 2.9 %

NYSE PRU traded down $3.28 on Tuesday, hitting $110.20. The company's stock had a trading volume of 1,085,197 shares, compared to its average volume of 1,712,577. The firm has a market cap of $39.45 billion, a P/E ratio of 14.84, a PEG ratio of 0.98 and a beta of 1.31. Prudential Financial, Inc. has a 52-week low of $104.44 and a 52-week high of $130.55. The company's 50-day simple moving average is $116.25 and its 200 day simple moving average is $119.90. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.68.

Prudential Financial (NYSE:PRU - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.36 by ($0.40). Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. Research analysts predict that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th will be issued a dividend of $1.35 per share. This is an increase from Prudential Financial's previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.90%. Prudential Financial's dividend payout ratio 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.