Huntington National Bank Sells 14,425 Shares of Prudential Financial, Inc. $PRU

Huntington National Bank decreased its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 9.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 139,659 shares of the financial services provider’s stock after selling 14,425 shares during the quarter. Huntington National Bank’s holdings in Prudential Financial were worth $15,765,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Kingsview Wealth Management LLC boosted its holdings in shares of Prudential Financial by 125.0% during the 4th quarter. Kingsview Wealth Management LLC now owns 13,943 shares of the financial services provider’s stock worth $1,574,000 after buying an additional 7,746 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Prudential Financial by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 9,533,806 shares of the financial services provider’s stock worth $1,078,904,000 after buying an additional 26,414 shares during the period. Coordinated Financial Services Inc. boosted its holdings in shares of Prudential Financial by 27.3% during the 4th quarter. Coordinated Financial Services Inc. now owns 3,989 shares of the financial services provider’s stock worth $450,000 after buying an additional 856 shares during the period. Knights of Columbus Asset Advisors LLC boosted its holdings in shares of Prudential Financial by 18.1% during the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 81,184 shares of the financial services provider’s stock worth $9,164,000 after buying an additional 12,455 shares during the period. Finally, Employees Retirement System of Texas bought a new stake in shares of Prudential Financial during the 4th quarter worth about $421,000. Institutional investors own 56.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PRU. UBS Group reduced their target price on shares of Prudential Financial from $105.00 to $98.00 and set a “neutral” rating for the company in a report on Thursday, April 9th. Mizuho lifted their price objective on shares of Prudential Financial from $96.00 to $101.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Evercore reiterated a “negative” rating on shares of Prudential Financial in a research note on Friday, March 6th. Wells Fargo & Company lifted their price objective on shares of Prudential Financial from $93.00 to $100.00 and gave the stock an “underweight” rating in a research note on Tuesday, May 12th. Finally, Piper Sandler lifted their price objective on shares of Prudential Financial from $99.00 to $105.00 and gave the stock a “neutral” rating in a research note on Monday, May 11th. Nine research analysts have rated the stock with a Hold rating and six have assigned a Sell rating to the stock. According to MarketBeat.com, Prudential Financial currently has an average rating of “Reduce” and a consensus target price of $101.50.

Prudential Financial Trading Down 0.8%

PRU opened at $100.69 on Friday. Prudential Financial, Inc. has a twelve month low of $91.89 and a twelve month high of $119.76. The company has a 50-day simple moving average of $98.54 and a 200 day simple moving average of $104.50. 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 stock has a market capitalization of $34.94 billion, a price-to-earnings ratio of 10.36, a P/E/G ratio of 1.84 and a beta of 0.86.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Tuesday, May 5th. The financial services provider reported $3.61 earnings per share for the quarter, topping the consensus estimate of $3.09 by $0.52. The business had revenue of $15.23 billion during the quarter, compared to analysts’ expectations of $14.10 billion. Prudential Financial had a net margin of 5.83% and a return on equity of 16.33%. During the same quarter in the prior year, the business posted $3.29 earnings per share. Analysts predict that Prudential Financial, Inc. will post 13.84 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 11th. Stockholders of record on Tuesday, May 26th will be given a $1.40 dividend. The ex-dividend date is Tuesday, May 26th. This represents a $5.60 annualized dividend and a dividend yield of 5.6%. Prudential Financial’s payout ratio is presently 57.61%.

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.