Prudential Financial, Inc. (NYSE:PRU) Shares Bought by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. grew its position in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 1.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,409,521 shares of the financial services provider's stock after purchasing an additional 26,210 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.68% of Prudential Financial worth $285,601,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Grove Bank & Trust increased its holdings in Prudential Financial by 65.9% in the 4th quarter. Grove Bank & Trust now owns 219 shares of the financial services provider's stock worth $26,000 after buying an additional 87 shares during the period. Centricity Wealth Management LLC acquired a new stake in shares of Prudential Financial in the fourth quarter worth $29,000. Ashton Thomas Securities LLC purchased a new position in shares of Prudential Financial during the third quarter worth $31,000. CGC Financial Services LLC lifted its position in Prudential Financial by 82.1% during the fourth quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider's stock valued at $33,000 after purchasing an additional 124 shares during the period. Finally, Wingate Wealth Advisors Inc. purchased a new stake in Prudential Financial in the fourth quarter valued at $33,000. Institutional investors and hedge funds own 56.83% of the company's stock.

Analyst Upgrades and Downgrades

PRU has been the topic of a number of recent research reports. Barclays upped their target price on Prudential Financial from $128.00 to $134.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 5th. Piper Sandler lowered their price objective on Prudential Financial from $127.00 to $124.00 and set a "neutral" rating on the stock in a research report on Thursday, January 16th. Keefe, Bruyette & Woods cut their target price on shares of Prudential Financial from $129.00 to $125.00 and set a "market perform" rating for the company in a report on Wednesday, February 12th. Wells Fargo & Company increased 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. Finally, Jefferies Financial Group lifted their price objective on shares of Prudential Financial from $149.00 to $152.00 and gave the company a "buy" rating in a report on Tuesday, December 10th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Prudential Financial has an average rating of "Hold" and an average target price of $126.15.

Prudential Financial Trading Up 1.2 %

PRU stock opened at $110.90 on Thursday. Prudential Financial, Inc. has a 12-month low of $104.44 and a 12-month high of $130.55. The business's 50-day moving average is $115.89 and its 200 day moving average is $119.80. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.68. The stock has a market cap of $39.70 billion, a price-to-earnings ratio of 14.85, a PEG ratio of 0.98 and a beta of 1.31.

Prudential Financial (NYSE:PRU - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The financial services provider reported $2.96 EPS for the quarter, missing the consensus estimate 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, sell-side analysts anticipate that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th will be paid a $1.35 dividend. This is an increase from Prudential Financial's previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a dividend yield of 4.87%. The ex-dividend date of this dividend is Tuesday, February 18th. Prudential Financial's dividend payout ratio (DPR) is currently 72.29%.

Prudential Financial Company 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.

Want to see what other hedge funds are holding PRU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Prudential Financial, Inc. (NYSE:PRU - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.