Mainstay Capital Management LLC ADV Purchases 473 Shares of Prudential Financial, Inc. (NYSE:PRU)

Mainstay Capital Management LLC ADV grew its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 2.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,986 shares of the financial services provider’s stock after acquiring an additional 473 shares during the quarter. Prudential Financial comprises 0.3% of Mainstay Capital Management LLC ADV’s holdings, making the stock its 26th largest holding. Mainstay Capital Management LLC ADV’s holdings in Prudential Financial were worth $2,250,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Union Bancaire Privee UBP SA bought a new stake in shares of Prudential Financial during the fourth quarter valued at approximately $54,000. Delta Financial Group Inc. bought a new stake in shares of Prudential Financial during the fourth quarter valued at approximately $369,000. Howard Capital Management Inc. grew its holdings in Prudential Financial by 5.4% during the fourth quarter. Howard Capital Management Inc. now owns 2,455 shares of the financial services provider’s stock worth $291,000 after buying an additional 126 shares in the last quarter. Wealthspire Advisors LLC grew its holdings in Prudential Financial by 25.9% during the fourth quarter. Wealthspire Advisors LLC now owns 3,235 shares of the financial services provider’s stock worth $383,000 after buying an additional 666 shares in the last quarter. Finally, First Horizon Advisors Inc. grew its holdings in Prudential Financial by 2.7% during the fourth quarter. First Horizon Advisors Inc. now owns 167,110 shares of the financial services provider’s stock worth $19,808,000 after buying an additional 4,425 shares in the last quarter. Institutional investors own 56.83% of the company’s stock.

Wall Street Analyst Weigh In

PRU has been the subject of several recent research reports. Wells Fargo & Company upped their price target on Prudential Financial from $113.00 to $118.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 19th. Keefe, Bruyette & Woods decreased their price target 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. Piper Sandler decreased their price target on Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Barclays upped their price target on Prudential Financial from $128.00 to $134.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 5th. Finally, TD Cowen boosted their price objective 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 analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $125.69.

Prudential Financial Stock Down 1.5 %

Shares of NYSE PRU opened at $109.45 on Monday. 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 current ratio of 0.16 and a quick ratio of 0.16. The business’s fifty day moving average price is $116.88 and its 200-day moving average price is $119.80. The stock 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.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Tuesday, February 4th. The financial services provider reported $2.96 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%. On average, equities research analysts anticipate that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Tuesday, February 18th will be issued a dividend of $1.35 per share. 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 dividend on an annualized basis and a yield of 4.93%. Prudential Financial’s dividend payout ratio is 72.29%.

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.