Sequoia Financial Advisors LLC Acquires 2,461 Shares of Prudential Financial, Inc. (NYSE:PRU)

Sequoia Financial Advisors LLC increased its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 30.8% during the 4th quarter, according to 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 acquiring 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 PRU. Savant Capital LLC grew its stake in shares of Prudential Financial by 0.6% in the 4th quarter. Savant Capital LLC now owns 14,382 shares of the financial services provider’s stock worth $1,705,000 after buying an additional 83 shares during the last quarter. Grove Bank & Trust grew its stake in shares of Prudential Financial by 65.9% in the fourth quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 87 shares during the last quarter. Asset Dedication LLC increased its holdings in shares of Prudential Financial by 28.4% during the fourth quarter. Asset Dedication LLC now owns 420 shares of the financial services provider’s stock valued at $50,000 after acquiring an additional 93 shares in the last quarter. RNC Capital Management LLC raised its position in shares of Prudential Financial by 3.3% in the 4th quarter. RNC Capital Management LLC now owns 2,990 shares of the financial services provider’s stock worth $354,000 after purchasing an additional 95 shares during the last quarter. Finally, Hardy Reed LLC grew its position in Prudential Financial by 1.6% during the 3rd quarter. Hardy Reed LLC now owns 6,202 shares of the financial services provider’s stock valued at $751,000 after purchasing an additional 98 shares during the last quarter. Institutional investors own 56.83% of the company’s stock.

Prudential Financial Stock Performance

Shares of NYSE PRU opened at $108.64 on Friday. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.68. Prudential Financial, Inc. has a 12-month low of $104.45 and a 12-month high of $130.55. The firm has a market capitalization of $38.89 billion, a price-to-earnings ratio of 14.54, a price-to-earnings-growth ratio of 0.98 and a beta of 1.28. The firm has a 50 day moving average of $114.31 and a 200 day moving average of $119.38.

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 return on equity of 15.86% and a net margin of 4.01%. On average, research 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 disclosed 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. The ex-dividend date of this dividend was Tuesday, February 18th. This is an increase from Prudential Financial’s previous quarterly dividend of $1.30. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.97%. Prudential Financial’s payout ratio is 72.29%.

Insiders Place Their Bets

In other news, EVP Andrew F. Sullivan sold 6,000 shares of the firm’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $105.98, for a total transaction of $635,880.00. Following the sale, the executive vice president now directly owns 27,072 shares in the company, valued at $2,869,090.56. This trade represents a 18.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential bought 87,047 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The stock was purchased at an average cost of $28.72 per share, with a total value of $2,499,989.84. Following the acquisition, the insider now directly owns 87,047 shares in the company, valued at $2,499,989.84. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. 0.34% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have issued reports on PRU. Piper Sandler decreased their target price on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. TD Cowen upped their price objective on Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a research report on Wednesday, November 27th. BMO Capital Markets started coverage on Prudential Financial in a report on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 target price for the company. Jefferies Financial Group upped their price target on Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Finally, 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. 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $126.15.

About Prudential Financial

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.