Sigma Planning Corp Has $909,000 Stock Position in Prudential Financial, Inc. (NYSE:PRU)

Sigma Planning Corp reduced its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 2.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 reporting period.

Several other institutional investors and hedge funds have also modified their holdings of PRU. State Street Corp boosted its stake in shares of Prudential Financial by 0.3% in the 3rd quarter. State Street Corp now owns 17,007,013 shares of the financial services provider’s stock valued at $2,059,549,000 after purchasing an additional 49,830 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Prudential Financial by 4.1% during the third 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 buying an additional 341,787 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Prudential Financial by 1.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,058,028 shares of the financial services provider’s stock valued at $370,327,000 after purchasing an additional 47,561 shares during the last quarter. FMR LLC increased its stake in 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 buying an additional 344,254 shares during the last quarter. Finally, abrdn plc lifted its holdings in Prudential Financial by 4.0% during the third quarter. abrdn plc now owns 1,309,155 shares of the financial services provider’s stock worth $158,120,000 after acquiring an additional 50,026 shares during the period. 56.83% of the stock is currently owned by institutional investors.

Prudential Financial Stock Performance

Shares of NYSE PRU opened at $111.12 on Wednesday. The company has a market cap of $39.78 billion, a PE ratio of 14.87, a PEG ratio of 0.98 and a beta of 1.31. Prudential Financial, Inc. has a 52-week low of $104.44 and a 52-week high of $130.55. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.68. The firm’s 50-day moving average price is $116.52 and its 200-day moving average price is $119.83.

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

Prudential Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th will be issued a dividend of $1.35 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This is a boost from Prudential Financial’s previous quarterly dividend of $1.30. This represents a $5.40 dividend on an annualized basis and a yield of 4.86%. Prudential Financial’s dividend payout ratio (DPR) is currently 72.29%.

Wall Street Analyst Weigh In

Several research firms recently commented on PRU. TD Cowen lifted their price objective on shares of Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a research note on Wednesday, November 27th. Evercore ISI upgraded Prudential Financial from an “underperform” rating to an “inline” rating and lifted their price target for the company from $117.00 to $140.00 in a research report on Thursday, November 14th. Wells Fargo & Company upped 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, February 19th. Barclays raised their price target on Prudential Financial from $128.00 to $134.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 5th. Finally, Jefferies Financial Group raised their price objective on Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $125.69.

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.