Keybank National Association OH Cuts Stock Holdings in Prudential Financial, Inc. (NYSE:PRU)

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

Several other hedge funds also recently modified their holdings of PRU. Van ECK Associates Corp boosted its position in shares of Prudential Financial by 49.5% during the third quarter. Van ECK Associates Corp now owns 17,600 shares of the financial services provider’s stock valued at $2,203,000 after buying an additional 5,825 shares during the last quarter. National Pension Service boosted its position in shares of Prudential Financial by 18.1% during the third quarter. National Pension Service now owns 587,189 shares of the financial services provider’s stock valued at $71,109,000 after buying an additional 89,949 shares during the last quarter. QRG Capital Management Inc. boosted its position in shares of Prudential Financial by 238.6% during the third quarter. QRG Capital Management Inc. now owns 49,779 shares of the financial services provider’s stock valued at $6,028,000 after buying an additional 35,076 shares during the last quarter. PDS Planning Inc boosted its position in shares of Prudential Financial by 6.5% during the third quarter. PDS Planning Inc now owns 2,043 shares of the financial services provider’s stock valued at $247,000 after buying an additional 125 shares during the last quarter. Finally, Catalyst Capital Advisors LLC purchased a new position in shares of Prudential Financial during the third quarter valued at approximately $96,000. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Prudential Financial Stock Performance

NYSE:PRU opened at $110.90 on Thursday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.16 and a current ratio of 0.16. Prudential Financial, Inc. has a 52-week low of $104.44 and a 52-week high of $130.55. The firm has a market cap of $39.70 billion, a price-to-earnings ratio of 14.85, a PEG ratio of 0.98 and a beta of 1.31. The business’s fifty day moving average is $115.89 and its 200 day moving average is $119.80.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share (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%. Research analysts predict that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Tuesday, February 18th will be paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.87%. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.30. The ex-dividend date is Tuesday, February 18th. Prudential Financial’s payout ratio is presently 72.29%.

Analysts Set New Price Targets

Several research firms have weighed in on PRU. Morgan Stanley cut their price objective on Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating on the stock in a research report on Friday, February 28th. BMO Capital Markets began coverage on Prudential Financial in a research report on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 price objective on the stock. TD Cowen boosted their price objective on Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a research report on Wednesday, November 27th. Piper Sandler cut their price objective on Prudential Financial from $127.00 to $124.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Finally, Evercore ISI raised Prudential Financial from an “underperform” rating to an “inline” rating and boosted their price objective for the stock from $117.00 to $140.00 in a research report on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Prudential Financial presently has a consensus rating of “Hold” and an average price target 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.