Sapient Capital LLC Makes New Investment in Prudential Financial, Inc. (NYSE:PRU)

Sapient Capital LLC bought a new position in shares of Prudential Financial, Inc. (NYSE:PRU) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 3,021 shares of the financial services provider’s stock, valued at approximately $354,000.

Several other institutional investors and hedge funds also recently made changes to their positions in PRU. Sequoia Financial Advisors LLC increased its stake in shares of Prudential Financial by 77.9% in the fourth quarter. Sequoia Financial Advisors LLC now owns 7,355 shares of the financial services provider’s stock valued at $763,000 after buying an additional 3,220 shares during the period. Aaron Wealth Advisors LLC acquired a new position in shares of Prudential Financial in the fourth quarter valued at approximately $206,000. Janiczek Wealth Management LLC increased its position in Prudential Financial by 49.6% during the 4th quarter. Janiczek Wealth Management LLC now owns 374 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 124 shares during the period. Valeo Financial Advisors LLC raised its holdings in Prudential Financial by 10.0% during the 4th quarter. Valeo Financial Advisors LLC now owns 4,982 shares of the financial services provider’s stock worth $517,000 after purchasing an additional 454 shares during the last quarter. Finally, Koshinski Asset Management Inc. raised its holdings in Prudential Financial by 38.5% during the 4th quarter. Koshinski Asset Management Inc. now owns 21,548 shares of the financial services provider’s stock worth $2,235,000 after purchasing an additional 5,987 shares during the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.

Prudential Financial Stock Performance

Prudential Financial stock traded down $0.66 during trading hours on Monday, hitting $108.80. 431,810 shares of the stock traded hands, compared to its average volume of 1,494,172. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.13 and a quick ratio of 0.13. The firm’s 50 day moving average price is $118.41 and its 200-day moving average price is $114.33. The stock has a market capitalization of $38.84 billion, a price-to-earnings ratio of 18.62, a P/E/G ratio of 0.83 and a beta of 1.34. Prudential Financial, Inc. has a 1 year low of $87.95 and a 1 year high of $128.52.

Prudential Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Tuesday, August 20th will be given a $1.30 dividend. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $5.20 annualized dividend and a yield of 4.78%. Prudential Financial’s payout ratio is 88.44%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Jefferies Financial Group cut their price objective on shares of Prudential Financial from $143.00 to $141.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Evercore ISI boosted their price objective on Prudential Financial from $115.00 to $116.00 and gave the company an “underperform” rating in a research note on Thursday, April 25th. Keefe, Bruyette & Woods upped their price target on Prudential Financial from $118.00 to $121.00 and gave the company a “market perform” rating in a research report on Monday, July 8th. Wells Fargo & Company raised Prudential Financial from an “underweight” rating to an “equal weight” rating and set a $113.00 price objective for the company in a report on Monday. Finally, Piper Sandler cut their target price on Prudential Financial from $125.00 to $121.00 and set a “neutral” rating for the company in a research note on Monday, May 6th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $118.83.

Insider Buying and Selling

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential purchased 652,884 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were bought at an average cost of $27.57 per share, for a total transaction of $18,000,011.88. Following the completion of the purchase, the insider now directly owns 3,883,390 shares in the company, valued at $107,065,062.30. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.31% of the stock is currently 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.