Rockefeller Capital Management L.P. Boosts Stake in Prudential Financial, Inc. $PRU

Rockefeller Capital Management L.P. grew its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 44.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 268,830 shares of the financial services provider’s stock after buying an additional 82,173 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Prudential Financial were worth $30,346,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. Sunflower Bank N.A. increased its position in shares of Prudential Financial by 3.2% during the fourth quarter. Sunflower Bank N.A. now owns 2,911 shares of the financial services provider’s stock valued at $329,000 after acquiring an additional 91 shares during the last quarter. Wetzel Investment Advisors Inc. lifted its holdings in Prudential Financial by 0.9% during the fourth quarter. Wetzel Investment Advisors Inc. now owns 10,022 shares of the financial services provider’s stock worth $1,131,000 after acquiring an additional 94 shares during the period. CIBC Private Wealth Group LLC boosted its position in Prudential Financial by 0.3% in the third quarter. CIBC Private Wealth Group LLC now owns 28,795 shares of the financial services provider’s stock worth $2,987,000 after purchasing an additional 97 shares during the last quarter. Transcend Capital Advisors LLC grew its stake in Prudential Financial by 2.4% in the 4th quarter. Transcend Capital Advisors LLC now owns 4,175 shares of the financial services provider’s stock valued at $471,000 after purchasing an additional 98 shares during the period. Finally, Mindset Wealth Management LLC increased its position in shares of Prudential Financial by 2.1% during the 3rd quarter. Mindset Wealth Management LLC now owns 4,781 shares of the financial services provider’s stock valued at $496,000 after purchasing an additional 100 shares during the last quarter. 56.83% of the stock is owned by institutional investors.

Prudential Financial Trading Up 0.3%

Shares of Prudential Financial stock opened at $106.86 on Monday. The stock has a market capitalization of $37.08 billion, a P/E ratio of 10.99, a P/E/G ratio of 1.94 and a beta of 0.86. Prudential Financial, Inc. has a 52-week low of $91.89 and a 52-week high of $119.76. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.16 and a current ratio of 0.16. The stock’s 50-day simple moving average is $101.55 and its 200 day simple moving average is $104.31.

Prudential Financial (NYSE:PRU) last posted its earnings results on Tuesday, May 5th. The financial services provider reported $3.61 earnings per share for the quarter, topping the consensus estimate of $3.09 by $0.52. Prudential Financial had a net margin of 5.83% and a return on equity of 16.33%. The firm had revenue of $15.23 billion during the quarter, compared to the consensus estimate of $14.10 billion. During the same quarter last year, the company earned $3.29 earnings per share. As a group, research analysts anticipate that Prudential Financial, Inc. will post 13.78 EPS for the current year.

Prudential Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Tuesday, May 26th were given a dividend of $1.40 per share. The ex-dividend date was Tuesday, May 26th. This represents a $5.60 annualized dividend and a dividend yield of 5.2%. Prudential Financial’s dividend payout ratio is currently 57.61%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on PRU shares. Jefferies Financial Group cut Prudential Financial from a “buy” rating to a “hold” rating and lowered their target price for the stock from $124.00 to $98.00 in a research note on Wednesday, April 22nd. BMO Capital Markets decreased their price objective on shares of Prudential Financial from $91.00 to $87.00 and set an “underperform” rating for the company in a report on Thursday, April 23rd. Mizuho lifted their price objective on shares of Prudential Financial from $96.00 to $101.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Wells Fargo & Company increased their target price on shares of Prudential Financial from $93.00 to $100.00 and gave the company an “underweight” rating in a research report on Tuesday, May 12th. Finally, UBS Group decreased their price target on shares of Prudential Financial from $105.00 to $98.00 and set a “neutral” rating for the company in a research note on Thursday, April 9th. Eleven equities research analysts have rated the stock with a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $101.50.

Prudential Financial Profile

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential’s long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential’s core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.