Sentry Investment Management LLC Cuts Stake in Prudential Financial, Inc. (NYSE:PRU)

Sentry Investment Management LLC reduced its stake in Prudential Financial, Inc. (NYSE:PRU) by 9.7% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,907 shares of the financial services provider’s stock after selling 205 shares during the quarter. Sentry Investment Management LLC’s holdings in Prudential Financial were worth $198,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Sanctuary Wealth Management L.L.C. purchased a new stake in Prudential Financial during the fourth quarter valued at about $25,000. Bruce G. Allen Investments LLC purchased a new stake in Prudential Financial during the fourth quarter valued at about $26,000. Headinvest LLC purchased a new stake in Prudential Financial during the third quarter valued at about $27,000. Pacific Center for Financial Services purchased a new stake in Prudential Financial during the first quarter valued at about $27,000. Finally, Coppell Advisory Solutions LLC purchased a new stake in Prudential Financial during the second quarter valued at about $28,000. 56.83% of the stock is owned by hedge funds and other institutional investors.

Prudential Financial Stock Down 0.7 %

Shares of Prudential Financial stock opened at $107.59 on Wednesday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.13 and a current ratio of 0.13. Prudential Financial, Inc. has a 52-week low of $77.22 and a 52-week high of $118.69. The stock has a market capitalization of $38.62 billion, a price-to-earnings ratio of 16.08, a P/E/G ratio of 0.73 and a beta of 1.37. The company’s 50 day moving average price is $111.23 and its 200-day moving average price is $102.87.

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). 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 the consensus estimate of $12.99 billion. During the same quarter in the prior year, the business posted $2.42 EPS. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. Equities research analysts forecast that Prudential Financial, Inc. will post 13.4 EPS for the current year.

Prudential Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Tuesday, February 20th were paid a $1.30 dividend. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.25. The ex-dividend date was Friday, February 16th. This represents a $5.20 dividend on an annualized basis and a yield of 4.83%. Prudential Financial’s dividend payout ratio (DPR) is presently 77.73%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. TheStreet raised shares of Prudential Financial from a “c+” rating to an “a-” rating in a report on Tuesday, February 6th. Wells Fargo & Company increased their price target on shares of Prudential Financial from $100.00 to $106.00 and gave the stock an “underweight” rating in a report on Thursday, April 11th. Morgan Stanley increased their price target on shares of Prudential Financial from $109.00 to $117.00 and gave the stock an “equal weight” rating in a report on Monday. UBS Group increased their price target on shares of Prudential Financial from $108.00 to $112.00 and gave the stock a “neutral” rating in a report on Monday, February 12th. Finally, 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. Two investment analysts have rated the stock with a sell rating and eleven have issued a hold rating to the stock. Based on data from MarketBeat.com, Prudential Financial currently has an average rating of “Hold” and an average price target of $111.33.

Insider Buying and Selling

In related news, EVP Andrew F. Sullivan sold 7,685 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $111.57, for a total value of $857,415.45. Following the completion of the sale, the executive vice president now owns 13,691 shares of the company’s stock, valued at $1,527,504.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Prudential Financial news, SVP Robert Axel sold 6,436 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $111.86, for a total transaction of $719,930.96. Following the completion of the transaction, the senior vice president now owns 7,901 shares of the company’s stock, valued at $883,805.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 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 value of $857,415.45. Following the transaction, the executive vice president now directly owns 13,691 shares of the company’s stock, valued at approximately $1,527,504.87. The disclosure for this sale can be found here. Insiders sold 29,255 shares of company stock valued at $3,215,664 over the last quarter. 0.34% of the stock is owned by company insiders.

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.