Sigma Planning Corp Sells 217 Shares of Prudential Financial, Inc. (NYSE:PRU)

Sigma Planning Corp lessened its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 2.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 7,667 shares of the financial services provider’s stock after selling 217 shares during the period. Sigma Planning Corp’s holdings in Prudential Financial were worth $909,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of PRU. Nordea Investment Management AB raised its position in Prudential Financial by 176.8% during the 4th quarter. Nordea Investment Management AB now owns 1,041,420 shares of the financial services provider’s stock valued at $123,804,000 after purchasing an additional 665,180 shares in the last quarter. FMR LLC raised its holdings in shares of Prudential Financial by 31.3% in the third quarter. FMR LLC now owns 1,444,288 shares of the financial services provider’s stock valued at $174,903,000 after acquiring an additional 344,254 shares in the last quarter. Geode Capital Management LLC lifted its stake in 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 acquiring an additional 341,787 shares during the period. Capital Advisors Inc. OK bought a new position in Prudential Financial during the 3rd quarter worth about $30,226,000. Finally, Jacobs Levy Equity Management Inc. raised its holdings in shares of Prudential Financial by 241.8% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 214,456 shares of the financial services provider’s stock valued at $25,971,000 after purchasing an additional 151,710 shares in the last quarter. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PRU. Jefferies Financial Group lifted their price objective on shares of Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Wells Fargo & Company lifted their price target on Prudential Financial from $113.00 to $118.00 and gave the company an “equal weight” rating in a report on Wednesday, February 19th. BMO Capital Markets initiated coverage on Prudential Financial in a research note on Thursday, January 23rd. They set an “underperform” rating and a $101.00 price objective for the company. Evercore ISI upgraded Prudential Financial from an “underperform” rating to an “inline” rating and lifted their target price for the company from $117.00 to $140.00 in a research note on Thursday, November 14th. Finally, Piper Sandler decreased their price target on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. 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 given a strong buy rating to the stock. According to MarketBeat, Prudential Financial currently has an average rating of “Hold” and a consensus target price of $125.69.

Prudential Financial Stock Performance

Shares of PRU stock opened at $111.12 on Wednesday. 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. The firm has a market capitalization of $39.78 billion, a price-to-earnings ratio of 14.87, a price-to-earnings-growth ratio of 0.98 and a beta of 1.31. The business has a fifty day moving average of $116.52 and a 200 day moving average of $119.83.

Prudential Financial (NYSE:PRU) last announced 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, research analysts expect that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th will be paid a dividend of $1.35 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.86%. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.30. Prudential Financial’s dividend payout ratio (DPR) is presently 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.