Delta Financial Group Inc. Acquires Shares of 3,112 Prudential Financial, Inc. (NYSE:PRU)

Delta Financial Group Inc. bought a new position in Prudential Financial, Inc. (NYSE:PRU) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 3,112 shares of the financial services provider’s stock, valued at approximately $369,000.

Several other hedge funds also recently added to or reduced their stakes in the company. Grove Bank & Trust boosted its position in shares of Prudential Financial by 65.9% during the fourth quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock valued at $26,000 after buying an additional 87 shares during the period. Centricity Wealth Management LLC bought a new stake in shares of Prudential Financial during the 4th quarter worth approximately $29,000. Ashton Thomas Securities LLC purchased a new position in Prudential Financial during the 3rd quarter valued at $31,000. CGC Financial Services LLC grew its position 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 valued at $33,000 after acquiring an additional 124 shares during the last quarter. Finally, Wingate Wealth Advisors Inc. purchased a new stake in Prudential Financial in the fourth quarter worth $33,000. 56.83% of the stock is currently owned by institutional investors.

Prudential Financial Stock Performance

Shares of Prudential Financial stock opened at $109.45 on Monday. The company has a market capitalization of $39.18 billion, a PE ratio of 14.65, a P/E/G ratio of 0.98 and a beta of 1.31. The company has a 50-day simple moving average of $116.88 and a two-hundred day simple moving average of $119.80. Prudential Financial, Inc. has a one year low of $104.44 and a one year high of $130.55. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.16 and a current ratio of 0.16.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data 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%. Research analysts expect that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Tuesday, February 18th will be paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 4.93%. This is an increase from Prudential Financial’s previous quarterly dividend of $1.30. The ex-dividend date is Tuesday, February 18th. Prudential Financial’s payout ratio is 72.29%.

Wall Street Analyst Weigh In

PRU has been the topic of several recent analyst reports. BMO Capital Markets began coverage on shares of Prudential Financial in a research note on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 price target on the stock. TD Cowen raised their target price on shares of Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a research report on Wednesday, November 27th. Evercore ISI upgraded Prudential Financial from an “underperform” rating to an “inline” rating and boosted their price target for the company from $117.00 to $140.00 in a report on Thursday, November 14th. Piper Sandler reduced their price objective on Prudential Financial from $127.00 to $124.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Finally, Jefferies Financial Group upped their target price on Prudential Financial from $149.00 to $152.00 and gave the stock 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 given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Prudential Financial currently has a consensus rating of “Hold” and a consensus target price of $125.69.

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.