J. Safra Sarasin Holding AG Purchases 9,173 Shares of Prudential Financial, Inc. $PRU

J. Safra Sarasin Holding AG lifted its holdings in Prudential Financial, Inc. (NYSE:PRU) by 315.3% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 12,082 shares of the financial services provider’s stock after purchasing an additional 9,173 shares during the period. J. Safra Sarasin Holding AG’s holdings in Prudential Financial were worth $1,253,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Brighton Jones LLC lifted its position in Prudential Financial by 3.7% during the fourth quarter. Brighton Jones LLC now owns 3,681 shares of the financial services provider’s stock valued at $436,000 after purchasing an additional 133 shares in the last quarter. Empowered Funds LLC raised its position in shares of Prudential Financial by 30.5% during the 1st quarter. Empowered Funds LLC now owns 17,690 shares of the financial services provider’s stock valued at $1,976,000 after purchasing an additional 4,134 shares during the period. GC Wealth Management RIA LLC purchased a new stake in Prudential Financial in the 2nd quarter worth $222,000. Capital Investment Advisors LLC grew its position in shares of Prudential Financial by 58.1% during the second quarter. Capital Investment Advisors LLC now owns 5,630 shares of the financial services provider’s stock worth $605,000 after purchasing an additional 2,070 shares in the last quarter. Finally, Consolidated Portfolio Review Corp grew its holdings in Prudential Financial by 0.7% during the 2nd quarter. Consolidated Portfolio Review Corp now owns 29,989 shares of the financial services provider’s stock valued at $3,222,000 after buying an additional 216 shares in the last quarter. 56.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PRU has been the subject of several recent research reports. UBS Group lifted their price target on Prudential Financial from $111.00 to $116.00 and gave the stock a “neutral” rating in a research report on Thursday, January 8th. Piper Sandler increased their target price on shares of Prudential Financial from $110.00 to $120.00 and gave the stock a “neutral” rating in a report on Tuesday, December 23rd. Barclays reduced their price target on shares of Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating for the company in a report on Wednesday, October 8th. Keefe, Bruyette & Woods increased their price objective on shares of Prudential Financial from $117.00 to $118.00 and gave the company a “market perform” rating in a research note on Monday, November 3rd. Finally, Evercore ISI boosted their price objective on shares of Prudential Financial from $120.00 to $122.00 and gave the stock an “in-line” rating in a research note on Thursday, October 30th. One analyst has rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $120.78.

Prudential Financial Trading Up 0.3%

NYSE PRU opened at $107.72 on Thursday. Prudential Financial, Inc. has a 52 week low of $90.38 and a 52 week high of $123.88. The company has a 50 day moving average price of $112.57 and a 200 day moving average price of $107.27. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.58. The firm has a market cap of $37.70 billion, a PE ratio of 14.80, a price-to-earnings-growth ratio of 1.19 and a beta of 0.97.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Wednesday, October 29th. The financial services provider reported $4.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.72 by $0.54. The business had revenue of $17.89 billion for the quarter, compared to analyst estimates of $13.77 billion. Prudential Financial had a net margin of 4.65% and a return on equity of 16.60%. During the same period in the previous year, the company earned $3.48 earnings per share. As a group, sell-side analysts forecast that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 11th. Investors of record on Tuesday, November 18th were paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 5.0%. The ex-dividend date was Tuesday, November 18th. Prudential Financial’s payout ratio is 74.18%.

Insiders Place Their Bets

In other Prudential Financial news, SVP Timothy L. Schmidt sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $107.69, for a total value of $861,520.00. Following the completion of the sale, the senior vice president owned 11,535 shares of the company’s stock, valued at approximately $1,242,204.15. This trade represents a 40.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Caroline Feeney sold 6,555 shares of the business’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $116.28, for a total value of $762,215.40. Following the sale, the executive vice president owned 22,523 shares in the company, valued at $2,618,974.44. The trade was a 22.54% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 62,719 shares of company stock valued at $6,796,067. 0.25% of the stock is owned by corporate insiders.

About Prudential Financial

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential’s long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential’s core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.