J. Safra Sarasin Holding AG Sells 9,860 Shares of Prudential Financial, Inc. $PRU

Key Points

• J. Safra Sarasin Holding AG reduced its stake in Prudential Financial by 77.2%, selling 9,860 shares and holding 2,909 shares valued at $313,000.
• The recent earnings report showed Prudential Financial with an EPS of $3.58, surpassing analysts' expectations of $3.22, alongside a revenue of $13.50 billion.
• Prudential Financial declared a quarterly dividend of $1.35 per share, equating to a 5.2% dividend yield with a payout ratio of 119.73%.

J. Safra Sarasin Holding AG lowered its stake in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 77.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,909 shares of the financial services provider's stock after selling 9,860 shares during the period. J. Safra Sarasin Holding AG's holdings in Prudential Financial were worth $313,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Invesco Ltd. grew its position in Prudential Financial by 2.7% in the first quarter. Invesco Ltd. now owns 4,440,003 shares of the financial services provider's stock valued at $495,859,000 after acquiring an additional 116,079 shares during the last quarter. Goldman Sachs Group Inc. grew its position in Prudential Financial by 19.2% in the first quarter. Goldman Sachs Group Inc. now owns 4,206,453 shares of the financial services provider's stock valued at $469,777,000 after acquiring an additional 678,028 shares during the last quarter. Ameriprise Financial Inc. grew its position in Prudential Financial by 5.6% in the first quarter. Ameriprise Financial Inc. now owns 1,801,551 shares of the financial services provider's stock valued at $201,201,000 after acquiring an additional 95,021 shares during the last quarter. Amundi grew its position in Prudential Financial by 14.1% in the first quarter. Amundi now owns 1,751,633 shares of the financial services provider's stock valued at $183,571,000 after acquiring an additional 216,119 shares during the last quarter. Finally, Deutsche Bank AG grew its position in Prudential Financial by 2.3% in the first quarter. Deutsche Bank AG now owns 1,284,466 shares of the financial services provider's stock valued at $143,449,000 after acquiring an additional 29,025 shares during the last quarter. Institutional investors own 56.83% of the company's stock.

Analyst Upgrades and Downgrades

PRU has been the topic of a number of recent analyst reports. Wolfe Research initiated coverage on Prudential Financial in a research report on Tuesday, September 16th. They issued a "peer perform" rating on the stock. Morgan Stanley lifted their price target on Prudential Financial from $113.00 to $117.00 and gave the company an "equal weight" rating in a research note on Monday, August 18th. JPMorgan Chase & Co. lifted their price target on Prudential Financial from $126.00 to $136.00 and gave the company a "neutral" rating in a research note on Tuesday, July 8th. Wall Street Zen raised Prudential Financial from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Finally, Piper Sandler cut their price target on Prudential Financial from $109.00 to $108.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 16th. One equities research analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Prudential Financial has an average rating of "Hold" and a consensus target price of $122.08.

Prudential Financial Price Performance

Prudential Financial stock opened at $104.01 on Friday. The stock's 50 day moving average is $105.19 and its 200 day moving average is $104.84. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.16 and a quick ratio of 0.16. The firm has a market cap of $36.61 billion, a P/E ratio of 23.06, a P/E/G ratio of 0.92 and a beta of 1.04. Prudential Financial, Inc. has a one year low of $90.38 and a one year high of $130.55.

Prudential Financial (NYSE:PRU - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $3.58 EPS for the quarter, topping analysts' consensus estimates of $3.22 by $0.36. The company had revenue of $13.50 billion for the quarter, compared to analyst estimates of $13.47 billion. Prudential Financial had a return on equity of 15.80% and a net margin of 2.75%.The firm's quarterly revenue was down 2.5% on a year-over-year basis. During the same period in the previous year, the firm earned $3.39 earnings per share. As a group, research analysts expect that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 11th. Investors of record on Tuesday, August 19th were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date of this dividend was Tuesday, August 19th. Prudential Financial's payout ratio is currently 119.73%.

Insider Activity at Prudential Financial

In related news, EVP Ann M. Kappler sold 4,000 shares of Prudential Financial stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $109.65, for a total value of $438,600.00. Following the transaction, the executive vice president directly owned 21,506 shares of the company's stock, valued at $2,358,132.90. The trade was a 15.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.25% of the stock is currently owned by corporate 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.

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