Sigma Planning Corp Decreases Holdings in Prudential Financial, Inc. (NYSE:PRU)

Sigma Planning Corp cut its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 58.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor 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 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. First Financial Corp IN boosted its stake in Prudential Financial by 13.7% in the 4th quarter. First Financial Corp IN now owns 848 shares of the financial services provider’s stock worth $88,000 after purchasing an additional 102 shares in the last quarter. Cambridge Trust Co. boosted its stake in Prudential Financial by 77.2% in the 4th quarter. Cambridge Trust Co. now owns 241 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 105 shares in the last quarter. Patron Partners LLC boosted its stake in Prudential Financial by 2.4% in the 3rd quarter. Patron Partners LLC now owns 5,086 shares of the financial services provider’s stock worth $483,000 after purchasing an additional 119 shares in the last quarter. Janiczek Wealth Management LLC boosted its stake in Prudential Financial by 49.6% in the 4th quarter. Janiczek Wealth Management LLC now owns 374 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 124 shares in the last quarter. Finally, Knights of Columbus Asset Advisors LLC lifted its stake in Prudential Financial by 0.3% during the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 50,718 shares of the financial services provider’s stock valued at $4,813,000 after acquiring an additional 128 shares during the period. 56.83% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Prudential Financial

In other Prudential Financial news, SVP Robert Axel sold 6,436 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $111.86, for a total transaction of $719,930.96. Following the completion of the sale, the senior vice president now directly owns 7,901 shares of the company’s stock, valued at approximately $883,805.86. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, SVP Robert Axel sold 6,436 shares of the firm’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $111.86, for a total value of $719,930.96. Following the completion of the transaction, the senior vice president now directly owns 7,901 shares of the company’s stock, valued at $883,805.86. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Andrew F. Sullivan sold 7,685 shares of the firm’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $111.57, for a total transaction of $857,415.45. Following the completion of the transaction, the executive vice president now directly owns 13,691 shares of the company’s stock, valued at $1,527,504.87. The disclosure for this sale can be found here. Insiders sold a total of 29,255 shares of company stock valued at $3,215,664 in the last three months. 0.31% of the stock is currently owned by corporate insiders.

Prudential Financial Trading Down 0.6 %

Prudential Financial stock opened at $110.50 on Friday. The firm has a 50 day moving average of $111.75 and a 200 day moving average of $103.73. The firm has a market capitalization of $39.67 billion, a price-to-earnings ratio of 16.52, a P/E/G ratio of 0.75 and a beta of 1.37. Prudential Financial, Inc. has a 12-month low of $77.22 and a 12-month high of $118.69. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.65.

Prudential Financial (NYSE:PRU) last released 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). Prudential Financial had a return on equity of 14.52% and a net margin of 4.89%. The firm had revenue of $13.02 billion during the quarter, compared to analysts’ expectations of $12.99 billion. During the same period in the prior year, the company posted $2.42 earnings per share. The company’s revenue was up 6.7% compared to the same quarter last year. As a group, research analysts predict that Prudential Financial, Inc. will post 13.38 earnings per share for the current 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 issued a dividend of $1.30 per share. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.25. This represents a $5.20 dividend on an annualized basis and a yield of 4.71%. The ex-dividend date was Friday, February 16th. Prudential Financial’s dividend payout ratio (DPR) is 77.73%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on PRU shares. JPMorgan Chase & Co. restated a “neutral” rating and set a $118.00 target price (down previously from $119.00) on shares of Prudential Financial in a research note on Wednesday, January 3rd. Raymond James cut shares of Prudential Financial from a “strong-buy” rating to a “market perform” rating in a research note on Friday, February 9th. TheStreet upgraded shares of Prudential Financial from a “c+” rating to an “a-” rating in a research note on Tuesday, February 6th. UBS Group increased their price objective on shares of Prudential Financial from $108.00 to $112.00 and gave the stock a “neutral” rating in a research note on Monday, February 12th. Finally, Evercore ISI increased their price objective on shares of Prudential Financial from $115.00 to $116.00 and gave the stock an “underperform” rating in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company. According to MarketBeat, Prudential Financial currently has a consensus rating of “Hold” and an average price target of $111.42.

Prudential Financial 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.