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, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 139,659 shares of the financial services provider’s stock after selling 14,425 shares during the period. Huntington National Bank’s holdings in Prudential Financial were worth $15,765,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Salomon & Ludwin LLC lifted its position in shares of Prudential Financial by 98.3% in the fourth quarter. Salomon & Ludwin LLC now owns 230 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 114 shares in the last quarter. Lodestone Wealth Management LLC bought a new position in Prudential Financial in the fourth quarter valued at $28,000. Coston McIsaac & Partners grew its position in Prudential Financial by 93.4% in the fourth quarter. Coston McIsaac & Partners now owns 265 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 128 shares in the last quarter. Wealth Watch Advisors INC bought a new position in Prudential Financial in the third quarter valued at $30,000. Finally, Dunhill Financial LLC grew its position in Prudential Financial by 982.8% in the fourth quarter. Dunhill Financial LLC now owns 314 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 285 shares in the last quarter. Institutional investors own 56.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Mizuho raised their target price on shares of Prudential Financial from $96.00 to $101.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. BMO Capital Markets decreased their target price on shares of Prudential Financial from $91.00 to $87.00 and set an “underperform” rating for the company in a research report on Thursday, April 23rd. Bank of America decreased their target price on shares of Prudential Financial from $112.00 to $104.00 and set a “neutral” rating for the company in a research report on Tuesday, April 14th. Morgan Stanley reaffirmed an “underweight” rating and issued a $92.00 target price (down from $106.00) on shares of Prudential Financial in a research report on Monday, May 4th. Finally, Evercore reaffirmed a “negative” rating on shares of Prudential Financial in a research report on Friday, March 6th. Nine research analysts have rated the stock with a Hold rating and six have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Prudential Financial currently has an average rating of “Reduce” and a consensus price target of $101.50.

Prudential Financial Stock Performance

Shares of PRU opened at $100.69 on Friday. The firm has a 50-day moving average of $98.54 and a 200-day moving average of $104.50. Prudential Financial, Inc. has a one year low of $91.89 and a one year high of $119.76. The company has a market cap of $34.94 billion, a PE ratio of 10.36, a price-to-earnings-growth ratio of 1.84 and a beta of 0.86. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.16 and a quick ratio of 0.16.

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

Prudential Financial Dividend Announcement

The company also recently disclosed 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. This represents a $5.60 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date of this dividend is Tuesday, May 26th. Prudential Financial’s dividend payout ratio (DPR) is 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.