Signaturefd LLC Sells 430 Shares of Prudential Financial, Inc. (NYSE:PRU)

Signaturefd LLC cut its holdings in Prudential Financial, Inc. (NYSE:PRU) by 3.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 10,817 shares of the financial services provider’s stock after selling 430 shares during the quarter. Signaturefd LLC’s holdings in Prudential Financial were worth $1,122,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Lindbrook Capital LLC raised its stake in shares of Prudential Financial by 25.6% in the 4th 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 in the last quarter. abrdn plc lifted its stake in shares of Prudential Financial by 37.5% in the fourth quarter. abrdn plc now owns 1,107,210 shares of the financial services provider’s stock worth $114,829,000 after buying an additional 302,164 shares during the last quarter. Wetzel Investment Advisors Inc. acquired a new position in Prudential Financial in the 4th quarter valued at $1,162,000. Zhang Financial LLC raised its holdings in Prudential Financial by 5.1% in the 4th quarter. Zhang Financial LLC now owns 5,257 shares of the financial services provider’s stock worth $545,000 after acquiring an additional 257 shares during the period. Finally, Knights of Columbus Asset Advisors LLC lifted its position in Prudential Financial by 15.7% during the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 58,699 shares of the financial services provider’s stock worth $6,088,000 after acquiring an additional 7,981 shares during the last quarter. 56.83% of the stock is owned by institutional investors.

Prudential Financial Stock Performance

NYSE PRU opened at $111.47 on Tuesday. Prudential Financial, Inc. has a twelve month low of $77.22 and a twelve month high of $118.69. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.65. The stock has a market cap of $40.02 billion, a P/E ratio of 16.66, a PEG ratio of 0.75 and a beta of 1.37. The company’s 50-day simple moving average is $111.38 and its 200 day simple moving average is $103.36.

Prudential Financial (NYSE:PRU) last issued its earnings results on Tuesday, February 6th. The financial services provider reported $2.58 EPS for the quarter, missing the consensus estimate of $2.67 by ($0.09). Prudential Financial had a net margin of 4.89% and a return on equity of 14.52%. The firm had revenue of $13.02 billion during the quarter, compared to analyst estimates of $12.99 billion. During the same quarter in the prior year, the firm posted $2.42 EPS. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. As a group, 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 disclosed a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Tuesday, February 20th were given a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 4.66%. The ex-dividend date was Friday, February 16th. This is a boost from Prudential Financial’s previous quarterly dividend of $1.25. Prudential Financial’s dividend payout ratio (DPR) is presently 77.73%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on PRU shares. Raymond James downgraded Prudential Financial from a “strong-buy” rating to a “market perform” rating in a research report on Friday, February 9th. Wells Fargo & Company lifted their price target on Prudential Financial from $100.00 to $106.00 and gave the stock an “underweight” rating in a research report on Thursday, April 11th. TheStreet upgraded Prudential Financial from a “c+” rating to an “a-” rating in a report on Tuesday, February 6th. Piper Sandler raised their price objective on shares of Prudential Financial from $114.00 to $125.00 and gave the stock a “neutral” rating in a research note on Friday, April 5th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and set a $118.00 target price (down from $119.00) on shares of Prudential Financial in a research note on Wednesday, January 3rd. Two analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the stock. According to data from MarketBeat, Prudential Financial has an average rating of “Hold” and a consensus target price of $111.33.

Insiders Place Their Bets

In related news, SVP Timothy L. Schmidt sold 7,912 shares of the firm’s stock in a transaction that occurred 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 sale, the senior vice president now owns 14,754 shares of the company’s stock, valued at $1,595,350.02. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, SVP Timothy L. Schmidt sold 7,912 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $108.13, for a total transaction of $855,524.56. Following the completion of the sale, the senior vice president now owns 14,754 shares in the company, valued at $1,595,350.02. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Andrew F. Sullivan sold 7,685 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $111.57, for a total value of $857,415.45. Following the completion of the transaction, the executive vice president now owns 13,691 shares in the company, valued at approximately $1,527,504.87. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,255 shares of company stock valued at $3,215,664. Insiders own 0.34% of the company’s stock.

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.