Prudential Financial, Inc. (NYSE:PRU) Holdings Decreased by Sanctuary Advisors LLC

Sanctuary Advisors LLC trimmed its holdings in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 8.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 52,473 shares of the financial services provider's stock after selling 4,721 shares during the period. Sanctuary Advisors LLC's holdings in Prudential Financial were worth $6,395,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. State Street Corp increased its holdings in Prudential Financial by 0.3% in the 3rd quarter. State Street Corp now owns 17,007,013 shares of the financial services provider's stock valued at $2,059,549,000 after purchasing an additional 49,830 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Prudential Financial by 4.1% in the third quarter. Geode Capital Management LLC now owns 8,662,679 shares of the financial services provider's stock worth $1,047,872,000 after buying an additional 341,787 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Prudential Financial by 1.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,058,028 shares of the financial services provider's stock worth $370,327,000 after acquiring an additional 47,561 shares in the last quarter. FMR LLC boosted its holdings in Prudential Financial by 31.3% in the 3rd quarter. FMR LLC now owns 1,444,288 shares of the financial services provider's stock worth $174,903,000 after acquiring an additional 344,254 shares during the period. Finally, abrdn plc grew its position in Prudential Financial by 4.0% in the third quarter. abrdn plc now owns 1,309,155 shares of the financial services provider's stock valued at $158,120,000 after acquiring an additional 50,026 shares in the last quarter. Institutional investors and hedge funds own 56.83% of the company's stock.

Insider Buying and Selling at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential purchased 537,249 shares of the business's stock in a transaction dated Monday, November 25th. The shares were bought at an average price of $27.92 per share, with a total value of $14,999,992.08. Following the completion of the acquisition, the insider now owns 4,780,293 shares in the company, valued at approximately $133,465,780.56. This represents a 12.66 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.31% of the stock is currently owned by company insiders.

Prudential Financial Stock Performance

PRU traded down $1.68 during trading hours on Friday, hitting $109.45. 1,575,421 shares of the stock were exchanged, compared to its average volume of 1,730,352. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.16 and a quick ratio of 0.16. Prudential Financial, Inc. has a 12 month low of $104.44 and a 12 month high of $130.55. The stock has a 50-day simple moving average of $116.88 and a 200-day simple moving average of $119.62. The stock has a market cap of $39.18 billion, a price-to-earnings ratio of 14.65, a price-to-earnings-growth ratio of 0.98 and a beta of 1.31.

Prudential Financial (NYSE:PRU - Get Free Report) last issued 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 return on equity of 15.86% and a net margin of 4.01%. Analysts anticipate that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th will be given a $1.35 dividend. The ex-dividend date is Tuesday, February 18th. This is a positive change from Prudential Financial's previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a yield of 4.93%. Prudential Financial's dividend payout ratio (DPR) is currently 72.29%.

Wall Street Analysts Forecast Growth

PRU has been the topic of a number of recent research reports. Piper Sandler reduced their target price on shares of Prudential Financial from $127.00 to $124.00 and set a "neutral" rating on the stock in a research report on Thursday, January 16th. BMO Capital Markets began coverage on shares of Prudential Financial in a report on Thursday, January 23rd. They issued an "underperform" rating and a $101.00 price objective on the stock. Wells Fargo & Company raised their target price on Prudential Financial from $113.00 to $118.00 and gave the company an "equal weight" rating in a research note on Wednesday. TD Cowen increased their price target on Prudential Financial from $130.00 to $133.00 and gave the company a "hold" rating in a report on Wednesday, November 27th. Finally, Evercore ISI upgraded Prudential Financial from an "underperform" rating to an "inline" rating and raised their price objective for the company from $117.00 to $140.00 in a research note on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Prudential Financial presently has an average rating of "Hold" and a consensus price target of $125.69.

Prudential Financial Company 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.