Keybank National Association OH Trims Stake in Prudential Financial, Inc. (NYSE:PRU)

Keybank National Association OH trimmed its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 2.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 66,178 shares of the financial services provider’s stock after selling 1,515 shares during the quarter. Keybank National Association OH’s holdings in Prudential Financial were worth $7,844,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Savant Capital LLC increased its holdings in shares of Prudential Financial by 0.6% in the 4th quarter. Savant Capital LLC now owns 14,382 shares of the financial services provider’s stock worth $1,705,000 after purchasing an additional 83 shares in the last quarter. Grove Bank & Trust increased its holdings in shares of Prudential Financial by 65.9% in the 4th quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 87 shares in the last quarter. Avidian Wealth Enterprises LLC increased its holdings in shares of Prudential Financial by 1.2% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 7,357 shares of the financial services provider’s stock worth $891,000 after purchasing an additional 89 shares in the last quarter. Asset Dedication LLC increased its holdings in shares of Prudential Financial by 28.4% in the 4th quarter. Asset Dedication LLC now owns 420 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 93 shares in the last quarter. Finally, RNC Capital Management LLC increased its holdings in shares of Prudential Financial by 3.3% in the 4th quarter. RNC Capital Management LLC now owns 2,990 shares of the financial services provider’s stock worth $354,000 after purchasing an additional 95 shares in the last quarter. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Prudential Financial Price Performance

PRU stock opened at $110.90 on Thursday. Prudential Financial, Inc. has a one year low of $104.44 and a one year high of $130.55. The company’s fifty day moving average price is $115.89 and its 200-day moving average price is $119.80. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.16 and a current ratio of 0.16. The company has a market capitalization of $39.70 billion, a PE ratio of 14.85, a price-to-earnings-growth ratio of 0.98 and a beta of 1.31.

Prudential Financial (NYSE:PRU) last posted its earnings results on Tuesday, February 4th. The financial services provider reported $2.96 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%. On average, equities analysts anticipate that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th will be given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 4.87%. This is a boost from Prudential Financial’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Tuesday, February 18th. Prudential Financial’s dividend payout ratio is currently 72.29%.

Analyst Upgrades and Downgrades

PRU has been the subject of several research analyst reports. TD Cowen lifted their price objective on Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a report on Wednesday, November 27th. Wells Fargo & Company lifted their price objective on Prudential Financial from $113.00 to $118.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 19th. Keefe, Bruyette & Woods cut their price objective on Prudential Financial from $129.00 to $125.00 and set a “market perform” rating for the company in a report on Wednesday, February 12th. Jefferies Financial Group upped their target price on shares of Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Finally, BMO Capital Markets started coverage on shares of Prudential Financial in a research report on Thursday, January 23rd. They set an “underperform” rating and a $101.00 price objective for the company. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Prudential Financial currently has a consensus rating of “Hold” and a consensus target price of $126.15.

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.