Miller Financial Services LLC Makes New $229,000 Investment in Prudential Financial, Inc. (NYSE:PRU)

Miller Financial Services LLC purchased a new position in shares of Prudential Financial, Inc. (NYSE:PRU) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,928 shares of the financial services provider’s stock, valued at approximately $229,000.

Other hedge funds also recently bought and sold shares of the company. Nordea Investment Management AB lifted its position in Prudential Financial by 176.8% during the 4th quarter. Nordea Investment Management AB now owns 1,041,420 shares of the financial services provider’s stock worth $123,804,000 after acquiring an additional 665,180 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Prudential Financial in the 4th quarter worth approximately $76,303,000. Amundi raised its holdings in Prudential Financial by 32.7% during the fourth quarter. Amundi now owns 1,535,514 shares of the financial services provider’s stock worth $181,851,000 after purchasing an additional 378,266 shares during the last quarter. FMR LLC raised its stake in shares of Prudential Financial by 31.3% during the 3rd quarter. FMR LLC now owns 1,444,288 shares of the financial services provider’s stock worth $174,903,000 after buying an additional 344,254 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Prudential Financial by 4.1% in the third quarter. Geode Capital Management LLC now owns 8,662,679 shares of the financial services provider’s stock valued at $1,047,872,000 after purchasing an additional 341,787 shares in the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.

Prudential Financial Stock Down 0.6 %

NYSE PRU opened at $105.66 on Wednesday. The stock 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. The business has a 50 day moving average price of $115.04 and a two-hundred day moving average price of $119.64. Prudential Financial, Inc. has a fifty-two week low of $104.45 and a fifty-two week high of $130.55. 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 (NYSE:PRU) last announced its earnings results 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%. As a group, sell-side 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 given a $1.35 dividend. This is a boost from Prudential Financial’s previous quarterly dividend of $1.30. The ex-dividend date is Tuesday, February 18th. This represents a $5.40 annualized dividend and a yield of 5.11%. Prudential Financial’s dividend payout ratio is 72.29%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on PRU shares. Morgan Stanley reduced their target price on Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating on the stock in a research note on Friday, February 28th. Keefe, Bruyette & Woods dropped their price objective on 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 lifted their target price on Prudential Financial from $113.00 to $118.00 and gave the company an “equal weight” rating in a report on Wednesday, February 19th. Barclays upped their price target 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. Finally, Evercore ISI raised Prudential Financial from an “underperform” rating to an “inline” rating and lifted their price objective for the company from $117.00 to $140.00 in a research note on Thursday, November 14th. One research analyst has rated the stock with a sell rating, ten have issued 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 currently has an average rating of “Hold” and an average price target of $126.15.

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.