Sei Investments Co. Has $9.77 Million Holdings in Prudential Financial, Inc. (NYSE:PRU)

Sei Investments Co. raised its stake in Prudential Financial, Inc. (NYSE:PRU) by 12.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 82,464 shares of the financial services provider’s stock after acquiring an additional 9,196 shares during the period. Sei Investments Co.’s holdings in Prudential Financial were worth $9,774,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PRU. American Century Companies Inc. increased its position in shares of Prudential Financial by 3.4% during the 4th quarter. American Century Companies Inc. now owns 628,980 shares of the financial services provider’s stock worth $74,553,000 after purchasing an additional 20,471 shares in the last quarter. Mizuho Securities USA LLC raised its stake in shares of Prudential Financial by 45.7% in the fourth quarter. Mizuho Securities USA LLC now owns 33,741 shares of the financial services provider’s stock valued at $3,999,000 after acquiring an additional 10,591 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of Prudential Financial in the 4th quarter worth approximately $771,000. Quantbot Technologies LP bought a new stake in Prudential Financial during the 4th quarter worth approximately $1,818,000. Finally, Sciencast Management LP bought a new position in Prudential Financial in the 4th quarter valued at $287,000. 56.83% of the stock is owned by institutional investors.

Prudential Financial Trading Down 3.9 %

Shares of NYSE PRU opened at $109.94 on Monday. Prudential Financial, Inc. has a twelve month low of $104.45 and a twelve month high of $130.55. The stock has a market cap of $39.36 billion, a price-to-earnings ratio of 14.72, a P/E/G ratio of 0.98 and a beta of 1.28. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.68. The company’s fifty day moving average is $113.09 and its 200-day moving average is $118.98.

Prudential Financial (NYSE:PRU) last posted its earnings results on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.36 by ($0.40). Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. Equities research analysts predict that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th were issued a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 4.91%. The ex-dividend date was Tuesday, February 18th. This is a boost from Prudential Financial’s previous quarterly dividend of $1.30. Prudential Financial’s dividend payout ratio is 72.29%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PRU. Barclays raised their target price on Prudential Financial from $128.00 to $134.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 5th. Piper Sandler dropped their target price on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. BMO Capital Markets initiated coverage on shares of Prudential Financial in a research note on Thursday, January 23rd. They set an “underperform” rating and a $101.00 price target on the stock. Keefe, Bruyette & Woods reduced their price objective on Prudential Financial from $129.00 to $125.00 and set a “market perform” rating on the stock in a report on Wednesday, February 12th. Finally, Morgan Stanley lowered their target price on Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating for the company in a research note on Friday, February 28th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $126.15.

Insider Buying and Selling

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential acquired 52,595 shares of the business’s stock in a transaction dated Tuesday, March 25th. The shares were acquired at an average price of $28.52 per share, with a total value of $1,500,009.40. Following the completion of the transaction, the insider now directly owns 139,987 shares in the company, valued at $3,992,429.24. This trade represents a 60.18 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Andrew F. Sullivan sold 6,000 shares of the firm’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $105.98, for a total transaction of $635,880.00. Following the completion of the transaction, the executive vice president now directly owns 27,072 shares of the company’s stock, valued at approximately $2,869,090.56. This trade represents a 18.14 % decrease in their position. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by company insiders.

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.