Prudential Financial, Inc. (NYSE:PRU) Shares Sold by Keybank National Association OH

Keybank National Association OH reduced its holdings in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 5.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,881 shares of the financial services provider's stock after selling 3,297 shares during the period. Keybank National Association OH's holdings in Prudential Financial were worth $7,023,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of PRU. Brighton Jones LLC increased its holdings in shares of Prudential Financial by 3.7% in 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 during the period. Fisher Asset Management LLC boosted its position in Prudential Financial by 52.7% during the fourth quarter. Fisher Asset Management LLC now owns 3,619 shares of the financial services provider's stock worth $429,000 after purchasing an additional 1,249 shares in the last quarter. SRS Capital Advisors Inc. lifted its position in shares of Prudential Financial by 29.4% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,117 shares of the financial services provider's stock valued at $132,000 after acquiring an additional 254 shares in the last quarter. Jones Financial Companies Lllp lifted its position in shares of Prudential Financial by 32.0% in the fourth quarter. Jones Financial Companies Lllp now owns 21,243 shares of the financial services provider's stock valued at $2,518,000 after acquiring an additional 5,144 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC lifted its position in shares of Prudential Financial by 2.9% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 40,478 shares of the financial services provider's stock valued at $4,798,000 after acquiring an additional 1,133 shares in the last quarter. 56.83% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on PRU shares. Barclays increased their price target on Prudential Financial from $109.00 to $119.00 and gave the company an "equal weight" rating in a report on Monday. Morgan Stanley raised their price target on Prudential Financial from $108.00 to $117.00 and gave the stock an "equal weight" rating in a research report on Monday, May 19th. UBS Group lowered their target price on Prudential Financial from $122.00 to $110.00 and set a "neutral" rating for the company in a research note on Tuesday, May 27th. JPMorgan Chase & Co. lowered their target price on Prudential Financial from $128.00 to $126.00 and set a "neutral" rating for the company in a research note on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods decreased their price target on Prudential Financial from $120.00 to $117.00 and set a "market perform" rating for the company in a report on Wednesday, May 7th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $121.15.

Prudential Financial Stock Performance

PRU stock traded down $2.60 during trading on Monday, hitting $106.48. The company had a trading volume of 1,402,009 shares, compared to its average volume of 1,659,935. The firm has a market cap of $37.69 billion, a PE ratio of 16.87, a price-to-earnings-growth ratio of 1.04 and a beta of 1.07. Prudential Financial, Inc. has a 1-year low of $90.38 and a 1-year high of $130.55. The firm has a 50-day moving average price of $104.93 and a 200-day moving average price of $109.14. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.65.

Prudential Financial (NYSE:PRU - Get Free Report) last issued its earnings results on Wednesday, April 30th. The financial services provider reported $3.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.18 by $0.11. The business had revenue of $13.61 billion during the quarter, compared to the consensus estimate of $14.76 billion. Prudential Financial had a return on equity of 15.84% and a net margin of 3.84%. The company's revenue for the quarter was down 38.2% on a year-over-year basis. During the same period in the prior year, the business posted $3.12 EPS. On average, analysts expect that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Tuesday, May 20th were paid a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 5.07%. The ex-dividend date of this dividend was Tuesday, May 20th. Prudential Financial's payout ratio is currently 85.58%.

Insider Buying and Selling

In related news, major shareholder Insurance Co Of Ame Prudential bought 1,675,978 shares of the stock in a transaction on Monday, June 16th. The shares were purchased at an average price of $28.64 per share, for a total transaction of $48,000,009.92. Following the acquisition, the insider owned 3,168,461 shares in the company, valued at $90,744,723.04. This represents a 112.29% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.25% of the company's stock.

About Prudential Financial

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.