Sugarloaf Wealth Management LLC Sells 601 Shares of Prudential Financial, Inc. (NYSE:PRU)

Sugarloaf Wealth Management LLC lessened its holdings in Prudential Financial, Inc. (NYSE:PRU) by 41.1% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 860 shares of the financial services provider’s stock after selling 601 shares during the period. Sugarloaf Wealth Management LLC’s holdings in Prudential Financial were worth $102,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Prudential Financial in the 2nd quarter worth $65,000. Daiwa Securities Group Inc. increased its position in Prudential Financial by 9.6% in the second quarter. Daiwa Securities Group Inc. now owns 39,511 shares of the financial services provider’s stock worth $4,630,000 after buying an additional 3,454 shares in the last quarter. LPL Financial LLC raised its stake in shares of Prudential Financial by 2.7% in the second quarter. LPL Financial LLC now owns 486,064 shares of the financial services provider’s stock worth $56,962,000 after buying an additional 12,718 shares during the period. American Century Companies Inc. lifted its position in shares of Prudential Financial by 1.7% during the 2nd quarter. American Century Companies Inc. now owns 574,756 shares of the financial services provider’s stock valued at $67,356,000 after buying an additional 9,735 shares in the last quarter. Finally, Y.D. More Investments Ltd purchased a new stake in Prudential Financial in the 2nd quarter worth approximately $145,000. 56.83% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, major shareholder Insurance Co Of Ame Prudential acquired 537,249 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was bought at an average price of $27.92 per share, for a total transaction of $14,999,992.08. Following the acquisition, the insider now directly owns 4,780,293 shares of the company’s stock, valued at $133,465,780.56. This represents a 12.66 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.31% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on PRU shares. Evercore ISI raised shares of 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 report on Thursday, November 14th. Piper Sandler upped their target price on shares of Prudential Financial from $121.00 to $127.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Wells Fargo & Company raised their price target on Prudential Financial from $116.00 to $117.00 and gave the company an “equal weight” rating in a report on Tuesday, November 5th. Bank of America increased their target price on Prudential Financial from $109.00 to $118.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Finally, TD Cowen upped their price target on Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a research note on Wednesday, November 27th. Eleven equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Prudential Financial currently has an average rating of “Hold” and a consensus price target of $127.17.

Prudential Financial Price Performance

PRU stock opened at $114.41 on Friday. The company has a fifty day simple moving average of $122.52 and a two-hundred day simple moving average of $120.63. Prudential Financial, Inc. has a 52 week low of $100.60 and a 52 week high of $130.55. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $40.73 billion, a P/E ratio of 10.17, a price-to-earnings-growth ratio of 0.87 and a beta of 1.31.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share for the quarter, beating the consensus estimate of $3.47 by $0.01. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. The company had revenue of $19.48 billion for the quarter, compared to analyst estimates of $14.57 billion. During the same quarter in the prior year, the firm posted $3.44 EPS. Analysts anticipate that Prudential Financial, Inc. will post 13.35 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th were paid a dividend of $1.30 per share. The ex-dividend date was Tuesday, November 19th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.55%. Prudential Financial’s dividend payout ratio is 46.22%.

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.