Prudential Financial, Inc. (NYSE:PRU) Shares Acquired by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC increased its stake in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 30.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,442 shares of the financial services provider's stock after buying an additional 2,461 shares during the period. Sequoia Financial Advisors LLC's holdings in Prudential Financial were worth $1,238,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Grove Bank & Trust grew its holdings in shares of Prudential Financial by 65.9% during the fourth quarter. Grove Bank & Trust now owns 219 shares of the financial services provider's stock valued at $26,000 after buying an additional 87 shares during the last quarter. Centricity Wealth Management LLC purchased a new stake in Prudential Financial in the fourth quarter worth approximately $29,000. CGC Financial Services LLC boosted its holdings in Prudential Financial by 82.1% in the fourth quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider's stock worth $33,000 after purchasing an additional 124 shares during the last quarter. Wingate Wealth Advisors Inc. purchased a new stake in Prudential Financial in the fourth quarter worth approximately $33,000. Finally, Quarry LP boosted its holdings in Prudential Financial by 376.3% in the third quarter. Quarry LP now owns 281 shares of the financial services provider's stock worth $34,000 after purchasing an additional 222 shares during the last quarter. Institutional investors own 56.83% of the company's stock.

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Insider Buying and Selling at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential bought 87,047 shares of the stock in a transaction dated Wednesday, March 12th. The shares were acquired at an average price of $28.72 per share, with a total value of $2,499,989.84. Following the completion of the acquisition, the insider now directly owns 87,047 shares in the company, valued at approximately $2,499,989.84. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Andrew F. Sullivan sold 6,000 shares of Prudential Financial stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $105.98, for a total transaction of $635,880.00. Following the completion of the sale, the executive vice president now directly owns 27,072 shares in the company, valued at approximately $2,869,090.56. The trade was a 18.14 % decrease in their position. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on PRU shares. Barclays lifted their price target on shares of Prudential Financial from $128.00 to $134.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 5th. Keefe, Bruyette & Woods lowered their price objective on Prudential Financial from $129.00 to $125.00 and set a "market perform" rating for the company in a research note on Wednesday, February 12th. 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 target for the company. Piper Sandler decreased their price target on Prudential Financial from $127.00 to $124.00 and set a "neutral" rating for the company in a research note on Thursday, January 16th. Finally, Wells Fargo & Company raised their price objective on Prudential Financial from $113.00 to $118.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Prudential Financial presently has a consensus rating of "Hold" and a consensus price target of $126.15.

Prudential Financial Stock Up 0.8 %

PRU stock traded up $0.90 during midday trading on Wednesday, hitting $110.64. The company's stock had a trading volume of 1,238,729 shares, compared to its average volume of 1,427,178. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.68. Prudential Financial, Inc. has a 52-week low of $104.45 and a 52-week high of $130.55. The firm has a market capitalization of $39.61 billion, a P/E ratio of 14.81, a PEG ratio of 0.98 and a beta of 1.28. The firm has a 50-day simple moving average of $113.96 and a 200-day simple moving average of $119.24.

Prudential Financial (NYSE:PRU - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share 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%. As a group, equities analysts forecast that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Tuesday, February 18th were paid a dividend of $1.35 per share. 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 4.88%. The ex-dividend date was Tuesday, February 18th. Prudential Financial's dividend payout ratio (DPR) is currently 72.29%.

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.