Natixis Advisors LLC Sells 28,868 Shares of Prudential Financial, Inc. (NYSE:PRU)

Key Points

• Natixis Advisors LLC has reduced its stake in Prudential Financial by 21.7%, owning 104,229 shares valued at approximately $11.64 million following the sale of 28,868 shares.
• Prudential Financial recently declared a quarterly dividend of $1.35 per share, yielding 5.4%, with a high dividend payout ratio of 119.73%.
• Analysts have mixed views on Prudential Financial, with a consensus rating of "Hold" and a revised price target averaging $121.75.

Natixis Advisors LLC trimmed its holdings in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 21.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 104,229 shares of the financial services provider's stock after selling 28,868 shares during the quarter. Natixis Advisors LLC's holdings in Prudential Financial were worth $11,640,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in PRU. Northern Trust Corp boosted its stake in shares of Prudential Financial by 23.7% in the 4th quarter. Northern Trust Corp now owns 4,686,690 shares of the financial services provider's stock valued at $555,513,000 after purchasing an additional 897,916 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Prudential Financial by 11.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,410,363 shares of the financial services provider's stock valued at $404,230,000 after purchasing an additional 352,335 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Prudential Financial by 6.1% in the 4th quarter. Ameriprise Financial Inc. now owns 1,706,530 shares of the financial services provider's stock valued at $202,279,000 after purchasing an additional 97,406 shares during the last quarter. Mariner LLC boosted its stake in shares of Prudential Financial by 3.7% in the 4th quarter. Mariner LLC now owns 1,476,899 shares of the financial services provider's stock valued at $175,051,000 after purchasing an additional 52,010 shares during the last quarter. Finally, Federated Hermes Inc. boosted its stake in shares of Prudential Financial by 7.8% in the 1st quarter. Federated Hermes Inc. now owns 1,176,359 shares of the financial services provider's stock valued at $131,376,000 after purchasing an additional 85,480 shares during the last quarter. 56.83% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 1,675,978 shares of the business's stock in a transaction on Monday, June 16th. The stock was purchased at an average price of $28.64 per share, for a total transaction of $48,000,009.92. Following the completion of the transaction, the insider directly owned 3,168,461 shares of the company's stock, valued at $90,744,723.04. This trade represents a 112.29% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.25% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on PRU. JPMorgan Chase & Co. boosted their target price on shares of Prudential Financial from $126.00 to $136.00 and gave the company a "neutral" rating in a research report on Tuesday, July 8th. Wells Fargo & Company lowered their price objective on shares of Prudential Financial from $116.00 to $113.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 16th. Keefe, Bruyette & Woods lowered their price objective on shares of Prudential Financial from $120.00 to $117.00 and set a "market perform" rating on the stock in a report on Wednesday, May 7th. Morgan Stanley lowered their price objective on shares of Prudential Financial from $117.00 to $113.00 and set an "equal weight" rating on the stock in a report on Monday, July 14th. Finally, Wall Street Zen upgraded shares of Prudential Financial from a "sell" rating to a "hold" rating in a report on Saturday. One analyst has rated the stock with a sell rating, ten have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $121.75.

Prudential Financial Stock Performance

PRU traded up $0.95 during trading on Wednesday, hitting $104.13. 1,656,482 shares of the company traded hands, compared to its average volume of 1,679,641. The firm has a market cap of $36.65 billion, a P/E ratio of 23.09, a price-to-earnings-growth ratio of 0.95 and a beta of 1.07. The stock's fifty day moving average is $104.87 and its 200 day moving average is $107.09. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.60. 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 results on Wednesday, July 30th. The financial services provider reported $3.58 earnings per share for the quarter, beating the consensus estimate of $3.22 by $0.36. The company had revenue of $13.50 billion during the quarter, compared to analyst estimates of $13.47 billion. Prudential Financial had a net margin of 2.75% and a return on equity of 15.80%. The firm's revenue for the quarter was down 2.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.39 earnings per share. As a group, equities analysts predict that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders of record on Tuesday, August 19th will be given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date is Tuesday, August 19th. Prudential Financial's dividend payout ratio (DPR) is currently 119.73%.

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.