Roxbury Financial LLC Acquires Stake in Prudential Financial, Inc.

In the fourth quarter, Roxbury Financial LLC made a significant move by acquiring a new stake in Prudential Financial, Inc. (NYSE:PRU - Free Report), as disclosed in a recent filing with the Securities and Exchange Commission. The institutional investor purchased 15,180 shares of the financial services company, amounting to a total value of about $1,965,000. This investment constitutes roughly 1.9% of Roxbury Financial's overall portfolio, marking Prudential as its 14th largest holding.

Several other institutional investors also adjusted their stakes in Prudential Financial during the same period. Notably, ABC Arbitrage SA established a new position in Prudential Financial, valued at $1,192,000, while Vicus Capital boosted its holdings by 2.5%, now owning 8,936 shares worth about $1,059,000 after acquiring an additional 216 shares. Furthermore, V Square Quantitative Management LLC increased its position by 5.0%, amassing 9,898 shares valued at $1,173,000 after buying 467 extra shares. Additional newcomers included Palacios Wealth Management LLC with an investment around $335,000 and Values Added Financial LLC acquiring shares valued at approximately $226,000. Collectively, institutional investors and hedge funds now control about 56.83% of Prudential Financial's stock.

Prudential Financial's Stock Performance

As for the stock's performance, shares of Prudential Financial opened at $111.54. The company has seen a twelve-month low of $104.44 and a high of $130.55 during this period. Financial metrics indicate a quick ratio of 0.14, a current ratio of 0.16, and a debt-to-equity ratio standing at 0.68. With a market capitalization of $39.71 billion, the firm has a PE ratio of 14.93, a P/E/G ratio of 1.00, and a beta of 1.31.

Recent Earnings Results

Prudential Financial recently released its earnings results on February 4th, reporting earnings per share (EPS) of $2.96 for the quarter. This figure fell short of analysts' expectations, which set the consensus at $3.36, resulting in a $0.40 miss. The company reported a net margin of 4.01% and a return on equity of 15.86%. Looking ahead, analysts project that Prudential Financial will achieve an EPS of 14.38 for the current fiscal year.

Dividend Increase Announcement

The financial provider also announced a quarterly dividend, scheduled to be paid on March 13th. Shareholders on record as of February 18th will receive $1.35 per share, representing an annualized total of $5.40 and a dividend yield of 4.84%. This marks an increase from the previous quarterly dividend of $1.30. The ex-dividend date for this payment is set for February 18th, with Prudential's current dividend payout ratio at 69.61%.

Insider Transactions

In related news, a key insider, the Insurance Company of America Prudential, made a notable acquisition of 537,249 shares at an average price of $27.92 per share on November 25th. The total investment amounted to nearly $15 million, raising their ownership to approximately 4.78 million shares, valued at about $133.47 million, which corresponds to a 12.66% increase in their overall stake. Insider ownership currently accounts for 0.31% of the company's total stock.

Analyst Ratings

Prudential Financial has seen various analysts weigh in on its stock recently. Keefe, Bruyette & Woods reduced their target price from $129.00 to $125.00, assigning a "market perform" rating. Meanwhile, BMO Capital Markets began coverage with an "underperform" stance and a target price of $101.00. On the other hand, Evercore ISI upgraded the stock from "underperform" to "inline" while raising their price target from $117.00 to $140.00. Wells Fargo & Company set a target of $115.00 after lowering it from $117.00, maintaining an "equal weight" rating, and Barclays increased their target from $128.00 to $134.00, also giving it an "equal weight" rating. In total, one analyst rated the stock as a sell, ten as hold, one as buy, and one issued a strong buy rating, leading to an average consensus of a "Hold" rating along with an expected price target of $125.46.

Company Overview

Prudential Financial, Inc., alongside its subsidiaries, offers a range of insurance, investment management, and other financial products both within the United States and globally. Its operations are categorized into several segments, including PGIM, Retirement Strategies, Group Insurance, Individual Life, and International Businesses.

Investment, Stocks, Financial