Prudential Financial, Inc. (NYSE:PRU) Shares Sold by Sigma Planning Corp

Sigma Planning Corp decreased its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 58.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,486 shares of the financial services provider’s stock after selling 4,951 shares during the quarter. Sigma Planning Corp’s holdings in Prudential Financial were worth $361,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. CWM LLC lifted its holdings in shares of Prudential Financial by 4.6% during the fourth quarter. CWM LLC now owns 10,977 shares of the financial services provider’s stock worth $1,138,000 after purchasing an additional 480 shares during the period. Criterion Capital Advisors LLC acquired a new position in Prudential Financial in the fourth quarter valued at approximately $75,000. Lindbrook Capital LLC lifted its holdings in Prudential Financial by 25.6% in the fourth quarter. Lindbrook Capital LLC now owns 1,424 shares of the financial services provider’s stock valued at $148,000 after acquiring an additional 290 shares during the period. abrdn plc lifted its holdings in Prudential Financial by 37.5% in the fourth quarter. abrdn plc now owns 1,107,210 shares of the financial services provider’s stock valued at $114,829,000 after acquiring an additional 302,164 shares during the period. Finally, Wetzel Investment Advisors Inc. acquired a new position in Prudential Financial in the fourth quarter valued at approximately $1,162,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

Insider Buying and Selling at Prudential Financial

In other Prudential Financial news, EVP Ann M. Kappler sold 7,222 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $108.39, for a total value of $782,792.58. Following the completion of the sale, the executive vice president now directly owns 24,381 shares in the company, valued at approximately $2,642,656.59. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, EVP Ann M. Kappler sold 7,222 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $108.39, for a total value of $782,792.58. Following the transaction, the executive vice president now owns 24,381 shares of the company’s stock, valued at approximately $2,642,656.59. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Timothy L. Schmidt sold 7,912 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $108.13, for a total value of $855,524.56. Following the completion of the transaction, the senior vice president now directly owns 14,754 shares in the company, valued at approximately $1,595,350.02. The disclosure for this sale can be found here. Insiders sold a total of 29,255 shares of company stock worth $3,215,664 in the last three months. 0.31% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. TheStreet raised Prudential Financial from a “c+” rating to an “a-” rating in a report on Tuesday, February 6th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $118.00 price target (down from $119.00) on shares of Prudential Financial in a report on Wednesday, January 3rd. Wells Fargo & Company upped their target price on Prudential Financial from $100.00 to $106.00 and gave the stock an “underweight” rating in a research note on Thursday, April 11th. Morgan Stanley upped their target price on Prudential Financial from $109.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. Finally, UBS Group upped their target price on Prudential Financial from $108.00 to $112.00 and gave the stock a “neutral” rating in a research note on Monday, February 12th. Two investment analysts have rated the stock with a sell rating and eleven have given a hold rating to the stock. Based on data from MarketBeat.com, Prudential Financial currently has an average rating of “Hold” and a consensus target price of $111.42.

Prudential Financial Stock Down 0.6 %

Shares of PRU opened at $110.50 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.13 and a current ratio of 0.13. The stock has a 50 day moving average price of $111.75 and a 200 day moving average price of $103.73. The stock has a market capitalization of $39.67 billion, a price-to-earnings ratio of 16.52, a PEG ratio of 0.75 and a beta of 1.37. Prudential Financial, Inc. has a one year low of $77.22 and a one year high of $118.69.

Prudential Financial (NYSE:PRU) last issued its earnings results on Tuesday, February 6th. The financial services provider reported $2.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.67 by ($0.09). The company had revenue of $13.02 billion during the quarter, compared to analysts’ expectations of $12.99 billion. Prudential Financial had a net margin of 4.89% and a return on equity of 14.52%. The firm’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.42 earnings per share. Equities research analysts forecast that Prudential Financial, Inc. will post 13.38 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Tuesday, February 20th were issued a $1.30 dividend. This is a boost from Prudential Financial’s previous quarterly dividend of $1.25. This represents a $5.20 annualized dividend and a yield of 4.71%. The ex-dividend date was Friday, February 16th. Prudential Financial’s dividend payout ratio is presently 77.73%.

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.