Prudential Financial, Inc. (NYSE:PRU) Shares Bought by Erste Asset Management GmbH

Erste Asset Management GmbH increased its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 11.7% in the fourth quarter, Holdings Channel reports. The firm owned 62,890 shares of the financial services provider’s stock after acquiring an additional 6,607 shares during the period. Erste Asset Management GmbH’s holdings in Prudential Financial were worth $7,488,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of PRU. Grove Bank & Trust increased its position in shares of Prudential Financial by 65.9% in the fourth quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 87 shares in the last quarter. Centricity Wealth Management LLC purchased a new stake in Prudential Financial during the 4th quarter worth $29,000. Ashton Thomas Securities LLC acquired a new stake in Prudential Financial in the 3rd quarter valued at $31,000. CGC Financial Services LLC raised its position in Prudential Financial by 82.1% in 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 shares of Prudential Financial in the fourth quarter worth about $33,000. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Prudential Financial Trading Down 1.2 %

Shares of NYSE PRU opened at $104.79 on Friday. Prudential Financial, Inc. has a 52-week low of $104.45 and a 52-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. The stock has a market capitalization of $37.52 billion, a P/E ratio of 14.03, a PEG ratio of 0.98 and a beta of 1.28. The stock’s 50 day moving average price is $114.52 and its two-hundred day moving average price is $119.44.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share (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, analysts anticipate that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Tuesday, February 18th were given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 5.15%. The ex-dividend date of this dividend was Tuesday, February 18th. This is an increase from Prudential Financial’s previous quarterly dividend of $1.30. Prudential Financial’s dividend payout ratio is currently 72.29%.

Wall Street Analyst Weigh In

Several brokerages recently commented on PRU. Jefferies Financial Group raised their target price on Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Barclays boosted their target price 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. Morgan Stanley lowered their price target on shares of Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating for the company in a report on Friday, February 28th. Evercore ISI raised shares of Prudential Financial from an “underperform” rating to an “inline” rating and upped their price objective for the company from $117.00 to $140.00 in a research report on Thursday, November 14th. Finally, TD Cowen lifted their target price on Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a research report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target 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.