Natixis Advisors LLC Sells 3,222 Shares of Prudential Financial, Inc. (NYSE:PRU)

Natixis Advisors LLC trimmed its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 2.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 133,097 shares of the financial services provider’s stock after selling 3,222 shares during the quarter. Natixis Advisors LLC’s holdings in Prudential Financial were worth $15,776,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Grove Bank & Trust boosted its position 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 worth $26,000 after purchasing an additional 87 shares in the last quarter. Centricity Wealth Management LLC bought a new stake in Prudential Financial in the 4th quarter valued at $29,000. CGC Financial Services LLC lifted its position in Prudential Financial by 82.1% in the 4th quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 124 shares in the last quarter. Wingate Wealth Advisors Inc. bought a new stake in Prudential Financial in the 4th quarter valued at $33,000. Finally, Quarry LP lifted its position in Prudential Financial by 376.3% in the 3rd quarter. Quarry LP now owns 281 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 222 shares in the last quarter. 56.83% of the stock is owned by institutional investors.

Prudential Financial Stock Down 0.6 %

Prudential Financial stock opened at $109.65 on Wednesday. The firm has a market capitalization of $39.25 billion, a PE ratio of 14.68, a P/E/G ratio of 0.98 and a beta of 1.28. The company’s 50-day moving average is $113.96 and its 200-day moving average is $119.24. Prudential Financial, Inc. has a fifty-two week low of $104.45 and a fifty-two week high of $130.55. 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 (NYSE:PRU) last released its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share for the quarter, missing the consensus estimate of $3.36 by ($0.40). Prudential Financial had a return on equity of 15.86% and a net margin of 4.01%. Sell-side 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 declared a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Tuesday, February 18th were paid a $1.35 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $5.40 dividend on an annualized basis and a yield of 4.92%. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.30. Prudential Financial’s dividend payout ratio is 72.29%.

Wall Street Analyst Weigh In

PRU has been the topic of several research reports. Piper Sandler cut their price objective 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. Barclays boosted their price objective on shares of Prudential Financial from $128.00 to $134.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 5th. TD Cowen boosted their price objective on shares of Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a research report on Wednesday, November 27th. 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. Finally, Keefe, Bruyette & Woods lowered their price target on shares of Prudential Financial from $129.00 to $125.00 and set a “market perform” rating on the stock in a research note on Wednesday, February 12th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Prudential Financial presently has a consensus rating of “Hold” and a consensus target price of $126.15.

Insider Activity at Prudential Financial

In related news, EVP Andrew F. Sullivan sold 6,000 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $105.98, for a total value of $635,880.00. Following the transaction, the executive vice president now owns 27,072 shares in the company, valued at approximately $2,869,090.56. This represents a 18.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Insurance Co Of Ame Prudential purchased 87,047 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The stock was bought at an average price of $28.72 per share, for a total transaction of $2,499,989.84. Following the purchase, the insider now owns 87,047 shares in the company, valued at $2,499,989.84. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 0.31% of the stock is owned by company insiders.

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.