Sequoia Financial Advisors LLC Purchases 3,220 Shares of Prudential Financial, Inc. (NYSE:PRU)

Sequoia Financial Advisors LLC grew its position in Prudential Financial, Inc. (NYSE:PRU) by 77.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 7,355 shares of the financial services provider’s stock after purchasing an additional 3,220 shares during the period. Sequoia Financial Advisors LLC’s holdings in Prudential Financial were worth $763,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the business. Sanctuary Wealth Management L.L.C. acquired a new position in Prudential Financial during the 4th quarter valued at about $25,000. Bruce G. Allen Investments LLC purchased a new stake in shares of Prudential Financial during the fourth quarter worth about $26,000. Headinvest LLC acquired a new position in shares of Prudential Financial during the third quarter valued at about $27,000. Fairfield Bush & CO. purchased a new position in shares of Prudential Financial in the 1st quarter valued at approximately $36,000. Finally, Arlington Trust Co LLC boosted its stake in Prudential Financial by 151.6% in the 4th quarter. Arlington Trust Co LLC now owns 307 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 185 shares in the last quarter. 56.83% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Prudential Financial

In other Prudential Financial news, EVP Ann M. Kappler sold 7,222 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $108.39, for a total transaction of $782,792.58. Following the transaction, the executive vice president now owns 24,381 shares in the company, valued at $2,642,656.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Robert Axel sold 6,436 shares of the business’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 sale, the senior vice president now 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 through this hyperlink. Also, EVP Ann M. Kappler sold 7,222 shares of the stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $108.39, for a total transaction of $782,792.58. Following the transaction, the executive vice president now directly owns 24,381 shares in the company, valued at $2,642,656.59. 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 90 days. Corporate insiders own 0.34% of the company’s stock.

Prudential Financial Trading Down 1.2 %

Shares of NYSE:PRU opened at $108.36 on Tuesday. 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, Inc. has a 12-month low of $77.22 and a 12-month high of $118.69. The business has a 50 day moving average of $111.15 and a two-hundred day moving average of $102.78. The company has a market capitalization of $38.90 billion, a PE ratio of 16.20, a PEG ratio of 0.74 and a beta of 1.37.

Prudential Financial (NYSE:PRU) last posted 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 firm had revenue of $13.02 billion during the quarter, compared to analyst estimates of $12.99 billion. Prudential Financial had a net margin of 4.89% and a return on equity of 14.52%. The business’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.42 earnings per share. As a group, analysts forecast that Prudential Financial, Inc. will post 13.4 EPS for the current year.

Prudential Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Tuesday, February 20th were paid 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 annualized dividend and a dividend yield of 4.80%. The ex-dividend date of this dividend was Friday, February 16th. Prudential Financial’s dividend payout ratio is presently 77.73%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Morgan Stanley upped their price target on shares of Prudential Financial from $109.00 to $117.00 and gave the company an “equal weight” rating in a research note on Monday. Wells Fargo & Company raised 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. Raymond James cut Prudential Financial from a “strong-buy” rating to a “market perform” rating in a research report on Friday, February 9th. Keefe, Bruyette & Woods raised their price objective on Prudential Financial from $112.00 to $118.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 10th. Finally, Evercore ISI lifted their target price on Prudential Financial from $104.00 to $115.00 and gave the stock an “underperform” rating in a report on Thursday, April 11th. Two equities research analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $111.33.

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.