Commerzbank Aktiengesellschaft FI Purchases 1,509 Shares of Prudential Financial, Inc. (NYSE:PRU)

Commerzbank Aktiengesellschaft FI boosted its position in Prudential Financial, Inc. (NYSE:PRU) by 7.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,788 shares of the financial services provider’s stock after acquiring an additional 1,509 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Prudential Financial were worth $2,575,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PRU. Grove Bank & Trust grew its position in shares of Prudential Financial by 65.9% during the 4th 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 period. Centricity Wealth Management LLC acquired a new position in Prudential Financial in the fourth quarter valued at approximately $29,000. Ashton Thomas Securities LLC acquired a new stake in Prudential Financial during the 3rd quarter worth $31,000. CGC Financial Services LLC raised its position in shares of Prudential Financial by 82.1% during 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. acquired a new position in shares of Prudential Financial in the 4th quarter valued at $33,000. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Prudential Financial Stock Performance

PRU opened at $113.37 on Tuesday. 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 company has a market capitalization of $40.59 billion, a price-to-earnings ratio of 15.18, a P/E/G ratio of 0.98 and a beta of 1.31. The business’s 50-day moving average price is $116.25 and its two-hundred day moving average price is $119.90. Prudential Financial, Inc. has a 1 year low of $104.44 and a 1 year high of $130.55.

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%. Equities 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 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 of this dividend is Tuesday, February 18th. This represents a $5.40 annualized dividend and a yield of 4.76%. Prudential Financial’s dividend payout ratio is presently 72.29%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PRU. Evercore ISI raised Prudential Financial from an “underperform” rating to an “inline” rating and lifted their price objective for the stock from $117.00 to $140.00 in a research note on Thursday, November 14th. Jefferies Financial Group upped their price target on Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. TD Cowen lifted their price objective on shares of Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a research note on Wednesday, November 27th. Barclays boosted their price objective on shares of Prudential Financial from $128.00 to $134.00 and gave the company an “equal weight” rating in a report on Wednesday, February 5th. Finally, Morgan Stanley reduced their price target on shares of Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating on the stock in a research report on Friday. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average 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.