Sei Investments Co. Has $9.77 Million Holdings in Prudential Financial, Inc. (NYSE:PRU)

Sei Investments Co. lifted its holdings in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 12.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 82,464 shares of the financial services provider's stock after purchasing an additional 9,196 shares during the quarter. Sei Investments Co.'s holdings in Prudential Financial were worth $9,774,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of PRU. American Century Companies Inc. boosted its stake in Prudential Financial by 3.4% in the 4th quarter. American Century Companies Inc. now owns 628,980 shares of the financial services provider's stock worth $74,553,000 after purchasing an additional 20,471 shares during the period. Mizuho Securities USA LLC grew its holdings in shares of Prudential Financial by 45.7% during the fourth quarter. Mizuho Securities USA LLC now owns 33,741 shares of the financial services provider's stock worth $3,999,000 after buying an additional 10,591 shares in the last quarter. Virtu Financial LLC acquired a new stake in Prudential Financial in the 4th quarter valued at approximately $771,000. Quantbot Technologies LP bought a new stake in Prudential Financial in the 4th quarter valued at approximately $1,818,000. Finally, Sciencast Management LP acquired a new position in Prudential Financial during the 4th quarter worth approximately $287,000. Institutional investors own 56.83% of the company's stock.

Insiders Place Their Bets

In related news, major shareholder Insurance Co Of Ame Prudential bought 52,595 shares of the firm's stock in a transaction on Tuesday, March 25th. The shares were purchased at an average price of $28.52 per share, with a total value of $1,500,009.40. Following the completion of the purchase, the insider now owns 139,987 shares in the company, valued at $3,992,429.24. This represents a 60.18 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Andrew F. Sullivan sold 6,000 shares of the stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $105.98, for a total value of $635,880.00. Following the completion of the transaction, the executive vice president now owns 27,072 shares of the company's stock, valued at $2,869,090.56. The trade was a 18.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.31% of the company's stock.

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Prudential Financial Price Performance

NYSE PRU traded down $8.06 during midday trading on Thursday, hitting $104.65. The company had a trading volume of 2,816,613 shares, compared to its average volume of 1,550,340. The firm has a 50-day moving average price of $112.45 and a 200-day moving average price of $118.78. The company has a market capitalization of $37.46 billion, a PE ratio of 14.01, a P/E/G ratio of 0.98 and a beta of 1.28. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.68. Prudential Financial, Inc. has a twelve month low of $104.45 and a twelve month high of $130.55.

Prudential Financial (NYSE:PRU - Get Free Report) last issued its earnings results on Tuesday, February 4th. The financial services provider reported $2.96 EPS for the quarter, missing the consensus estimate of $3.36 by ($0.40). Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. As a group, analysts anticipate that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th were given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 5.16%. The ex-dividend date of this dividend was Tuesday, February 18th. This is a boost from Prudential Financial's previous quarterly dividend of $1.30. Prudential Financial's payout ratio is currently 72.29%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Morgan Stanley lowered 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 note on Friday, February 28th. BMO Capital Markets started coverage on Prudential Financial in a research note on Thursday, January 23rd. They set an "underperform" rating and a $101.00 price objective on the stock. Piper Sandler decreased their target price on shares of Prudential Financial from $124.00 to $122.00 and set a "neutral" rating for the company in a research note on Wednesday. UBS Group dropped their price target on shares of Prudential Financial from $130.00 to $122.00 and set a "neutral" rating on the stock in a research report on Wednesday. Finally, Wells Fargo & Company lifted their price objective on shares of Prudential Financial from $113.00 to $118.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, ten have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Prudential Financial has an average rating of "Hold" and an average price target of $126.08.

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.