Sanctuary Advisors LLC Has $6.40 Million Holdings in Prudential Financial, Inc. (NYSE:PRU)

Sanctuary Advisors LLC trimmed its holdings in Prudential Financial, Inc. (NYSE:PRU) by 8.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 52,473 shares of the financial services provider’s stock after selling 4,721 shares during the period. Sanctuary Advisors LLC’s holdings in Prudential Financial were worth $6,395,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Savant Capital LLC boosted its position in Prudential Financial by 0.6% during the fourth quarter. Savant Capital LLC now owns 14,382 shares of the financial services provider’s stock worth $1,705,000 after purchasing an additional 83 shares during the period. Grove Bank & Trust grew its stake in Prudential Financial by 65.9% in the 4th quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock valued at $26,000 after buying an additional 87 shares during the last quarter. Avidian Wealth Enterprises LLC raised its holdings in Prudential Financial by 1.2% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 7,357 shares of the financial services provider’s stock valued at $891,000 after acquiring an additional 89 shares during the period. Asset Dedication LLC lifted its position in Prudential Financial by 28.4% during the fourth quarter. Asset Dedication LLC now owns 420 shares of the financial services provider’s stock worth $50,000 after acquiring an additional 93 shares during the last quarter. Finally, RNC Capital Management LLC grew its position in shares of Prudential Financial by 3.3% in the fourth quarter. RNC Capital Management LLC now owns 2,990 shares of the financial services provider’s stock valued at $354,000 after purchasing an additional 95 shares during the last quarter. 56.83% of the stock is currently owned by institutional investors.

Prudential Financial Stock Down 0.2 %

Shares of NYSE PRU opened at $111.59 on Thursday. The company 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 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 $104.44 and a 12 month high of $130.55. The stock has a 50-day moving average price of $117.29 and a two-hundred day moving average price of $119.65.

Prudential Financial (NYSE:PRU) last issued 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, analysts forecast that Prudential Financial, Inc. will post 14.34 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th will be issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 4.84%. 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. Prudential Financial’s dividend payout ratio is presently 69.61%.

Insider Buying and Selling at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential purchased 537,249 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was purchased at an average cost of $27.92 per share, for a total transaction of $14,999,992.08. Following the transaction, the insider now owns 4,780,293 shares in the company, valued at $133,465,780.56. The trade was a 12.66 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. TD Cowen boosted their price target on Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a research note on Wednesday, November 27th. BMO Capital Markets assumed coverage on shares of Prudential Financial in a research report on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 target price for the company. Wells Fargo & Company raised their price target 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. Jefferies Financial Group increased their target price on shares of Prudential Financial from $149.00 to $152.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Finally, Keefe, Bruyette & Woods dropped their price target on shares of 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 analyst has rated the stock with a sell rating, ten have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $125.69.

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.