Sanctuary Advisors LLC Sells 4,721 Shares of Prudential Financial, Inc. (NYSE:PRU)

Sanctuary Advisors LLC lessened its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 8.3% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 52,473 shares of the financial services provider’s stock after selling 4,721 shares during the quarter. Sanctuary Advisors LLC’s holdings in Prudential Financial were worth $6,395,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC raised its stake in Prudential Financial by 4,130.8% during the third quarter. International Assets Investment Management LLC now owns 1,298,257 shares of the financial services provider’s stock worth $157,219,000 after buying an additional 1,267,571 shares during the last quarter. Nordea Investment Management AB raised its position in shares of Prudential Financial by 176.8% in the 4th quarter. Nordea Investment Management AB now owns 1,041,420 shares of the financial services provider’s stock worth $123,804,000 after acquiring an additional 665,180 shares in the last quarter. FMR LLC lifted its stake in shares of Prudential Financial by 31.3% in the 3rd quarter. FMR LLC now owns 1,444,288 shares of the financial services provider’s stock valued at $174,903,000 after purchasing an additional 344,254 shares during the period. Geode Capital Management LLC boosted its position in shares of Prudential Financial by 4.1% during the 3rd quarter. Geode Capital Management LLC now owns 8,662,679 shares of the financial services provider’s stock valued at $1,047,872,000 after purchasing an additional 341,787 shares in the last quarter. Finally, Capital Advisors Inc. OK acquired a new stake in Prudential Financial during the third quarter worth approximately $30,226,000. Institutional investors own 56.83% of the company’s stock.

Insider Activity

In related news, major shareholder Insurance Co Of Ame Prudential purchased 537,249 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was bought at an average price of $27.92 per share, for a total transaction of $14,999,992.08. Following the purchase, the insider now directly owns 4,780,293 shares in the company, valued at approximately $133,465,780.56. This trade represents a 12.66 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on PRU. Piper Sandler cut their price target on Prudential Financial from $127.00 to $124.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. BMO Capital Markets started coverage on shares of Prudential Financial in a research note on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 price target for the company. Wells Fargo & Company increased their price objective on shares of Prudential Financial from $113.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Keefe, Bruyette & Woods decreased their target price on Prudential Financial from $129.00 to $125.00 and set a “market perform” rating for the company in a research report on Wednesday, February 12th. Finally, TD Cowen increased their price target on Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $125.69.

Prudential Financial Stock Performance

NYSE PRU opened at $111.59 on Thursday. The company has a fifty day moving average price of $117.29 and a 200-day moving average price of $119.65. The firm has a market cap of $39.95 billion, a price-to-earnings ratio of 14.94, a PEG ratio of 0.99 and a beta of 1.31. 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 1 year low of $104.44 and a 1 year high of $130.55.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data 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, equities research analysts predict that Prudential Financial, Inc. will post 14.34 EPS for the current fiscal year.

Prudential Financial Increases Dividend

The firm also recently disclosed 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 represents a $5.40 annualized dividend and a yield of 4.84%. This is a boost from Prudential Financial’s previous quarterly dividend of $1.30. Prudential Financial’s payout ratio is currently 69.61%.

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.