Moody National Bank Trust Division Reduces Holdings in Prudential Financial, Inc. (NYSE:PRU)

Moody National Bank Trust Division trimmed its holdings in shares of Prudential Financial, Inc. (NYSE:PRU – Get Rating) by 9.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,126 shares of the financial services provider’s stock after selling 1,249 shares during the period. Moody National Bank Trust Division’s holdings in Prudential Financial were worth $1,433,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Equitec Proprietary Markets LLC purchased a new position in shares of Prudential Financial during the 4th quarter worth approximately $25,000. Rather & Kittrell Inc. purchased a new position in shares of Prudential Financial during the 4th quarter worth approximately $27,000. FSB Premier Wealth Management Inc. purchased a new stake in Prudential Financial in the 4th quarter worth approximately $29,000. EverSource Wealth Advisors LLC purchased a new stake in Prudential Financial in the 4th quarter worth approximately $31,000. Finally, Blue Bell Private Wealth Management LLC purchased a new stake in Prudential Financial in the 4th quarter worth approximately $32,000. 56.77% of the stock is owned by institutional investors and hedge funds.

NYSE:PRU opened at $93.17 on Thursday. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $34.94 billion, a price-to-earnings ratio of 7.56, a PEG ratio of 0.87 and a beta of 1.49. The firm’s fifty day simple moving average is $105.05 and its 200 day simple moving average is $109.96. Prudential Financial, Inc. has a twelve month low of $90.25 and a twelve month high of $124.22.

Prudential Financial (NYSE:PRU – Get Rating) last posted its earnings results on Tuesday, May 3rd. The financial services provider reported $3.17 earnings per share for the quarter, beating the consensus estimate of $2.67 by $0.50. The business had revenue of $13.66 billion for the quarter, compared to analyst estimates of $13.93 billion. Prudential Financial had a net margin of 8.09% and a return on equity of 9.35%. During the same quarter in the previous year, the business posted $4.11 EPS. On average, analysts predict that Prudential Financial, Inc. will post 11.74 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 16th. Investors of record on Tuesday, May 24th were issued a dividend of $1.20 per share. The ex-dividend date was Monday, May 23rd. This represents a $4.80 annualized dividend and a dividend yield of 5.15%. Prudential Financial’s payout ratio is 38.93%.

Several analysts have commented on the stock. The Goldman Sachs Group lowered their target price on shares of Prudential Financial from $116.00 to $99.00 and set a “neutral” rating for the company in a research note on Monday, June 6th. Credit Suisse Group cut shares of Prudential Financial from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $131.00 to $121.00 in a research note on Friday, March 25th. StockNews.com assumed coverage on shares of Prudential Financial in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Piper Sandler decreased their price target on shares of Prudential Financial from $118.00 to $110.00 and set a “neutral” rating on the stock in a report on Friday, May 27th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Prudential Financial from $113.00 to $120.00 in a report on Tuesday, April 5th. Two equities research analysts have rated the stock with a sell rating and ten have given a hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $112.58.

About Prudential Financial (Get Rating)

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 eight segments: PGIM, Retirement, Group Insurance, Individual Annuities, Individual Life, Assurance IQ, International Businesses, and Closed Block.

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