Kohmann Bosshard Financial Services LLC Acquires Shares of 568 Prudential Financial, Inc. (NYSE:PRU)

Kohmann Bosshard Financial Services LLC bought a new position in shares of Prudential Financial, Inc. (NYSE:PRU) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 568 shares of the financial services provider’s stock, valued at approximately $67,000.

Other large investors have also made changes to their positions in the company. Grove Bank & Trust boosted its stake in Prudential Financial by 65.9% during the fourth 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 last quarter. Centricity Wealth Management LLC purchased a new position in shares of Prudential Financial during the 4th quarter worth $29,000. Ashton Thomas Securities LLC acquired a new position in shares of Prudential Financial during the 3rd quarter valued at about $31,000. CGC Financial Services LLC increased 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 worth $33,000 after purchasing an additional 124 shares during the last quarter. Finally, Wingate Wealth Advisors Inc. purchased a new position in Prudential Financial during the fourth quarter worth about $33,000. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Barclays increased their price target on shares of Prudential Financial from $128.00 to $134.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 5th. BMO Capital Markets assumed coverage on Prudential Financial in a research note on Thursday, January 23rd. They set an “underperform” rating and a $101.00 target price for the company. Morgan Stanley decreased their price target on Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating on the stock in a research note on Friday. Evercore ISI raised Prudential Financial from an “underperform” rating to an “inline” rating and raised their price objective for the stock from $117.00 to $140.00 in a research report on Thursday, November 14th. Finally, TD Cowen upped 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. One research analyst has rated the stock with a sell rating, ten have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Prudential Financial presently has an average rating of “Hold” and a consensus price target of $126.15.

Prudential Financial Trading Up 2.1 %

NYSE PRU opened at $115.07 on Monday. 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, Inc. has a one year low of $104.44 and a one year high of $130.55. The firm has a market cap of $41.20 billion, a price-to-earnings ratio of 15.40, a PEG ratio of 0.98 and a beta of 1.31. The firm has a 50 day simple moving average of $116.35 and a 200-day simple moving average of $119.90.

Prudential Financial (NYSE:PRU) last released its 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%. Equities research analysts anticipate 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. Investors of record on Tuesday, February 18th will be paid a dividend of $1.35 per share. The ex-dividend date is Tuesday, February 18th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.69%. This is an increase from Prudential Financial’s previous quarterly dividend of $1.30. Prudential Financial’s payout ratio is presently 72.29%.

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.