Strs Ohio Sells 11,013 Shares of Prudential Financial, Inc. $PRU

Strs Ohio cut its position in Prudential Financial, Inc. (NYSE:PRU) by 56.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,376 shares of the financial services provider’s stock after selling 11,013 shares during the period. Strs Ohio’s holdings in Prudential Financial were worth $818,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of PRU. VCI Wealth Management LLC raised its position in shares of Prudential Financial by 117.1% during the fourth quarter. VCI Wealth Management LLC now owns 19,292 shares of the financial services provider’s stock worth $2,178,000 after acquiring an additional 10,404 shares during the last quarter. KBC Group NV raised its holdings in Prudential Financial by 94.3% during the 4th quarter. KBC Group NV now owns 157,538 shares of the financial services provider’s stock worth $17,783,000 after purchasing an additional 76,461 shares during the last quarter. Munich Reinsurance Co Stock Corp in Munich boosted its stake in shares of Prudential Financial by 2,669.0% in the 4th quarter. Munich Reinsurance Co Stock Corp in Munich now owns 46,990 shares of the financial services provider’s stock valued at $5,342,000 after purchasing an additional 45,293 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its position in shares of Prudential Financial by 9.1% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 171,486 shares of the financial services provider’s stock worth $19,357,000 after buying an additional 14,327 shares during the period. Finally, Murphy Middleton Hinkle & Parker Inc. lifted its holdings in Prudential Financial by 846.7% in the fourth quarter. Murphy Middleton Hinkle & Parker Inc. now owns 25,921 shares of the financial services provider’s stock valued at $2,926,000 after buying an additional 23,183 shares during the period. Institutional investors own 56.83% of the company’s stock.

Prudential Financial Price Performance

NYSE PRU opened at $112.74 on Thursday. The firm’s 50 day moving average is $104.84 and its 200-day moving average is $104.02. 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 company has a market capitalization of $39.12 billion, a PE ratio of 11.60, a price-to-earnings-growth ratio of 2.10 and a beta of 0.85. Prudential Financial, Inc. has a 12-month low of $91.89 and a 12-month high of $119.76.

Prudential Financial (NYSE:PRU) last released its earnings results on Tuesday, May 5th. The financial services provider reported $3.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.09 by $0.52. The business had revenue of $15.23 billion for the quarter, compared to analyst estimates of $14.10 billion. Prudential Financial had a return on equity of 16.33% and a net margin of 5.83%.During the same quarter in the prior year, the company posted $3.29 earnings per share. Equities research analysts anticipate that Prudential Financial, Inc. will post 13.81 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Tuesday, May 26th were issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date was Tuesday, May 26th. Prudential Financial’s payout ratio is currently 57.61%.

Analysts Set New Price Targets

PRU has been the subject of several recent research reports. Zacks Research upgraded shares of Prudential Financial from a “strong sell” rating to a “hold” rating in a research report on Friday, June 12th. UBS Group dropped their price objective on Prudential Financial from $105.00 to $98.00 and set a “neutral” rating for the company in a report on Thursday, April 9th. Keefe, Bruyette & Woods boosted their target price on Prudential Financial from $100.00 to $106.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 13th. Argus downgraded shares of Prudential Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, June 9th. Finally, Piper Sandler upped their target price on shares of Prudential Financial from $105.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, June 24th. Eleven equities research analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $102.08.

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.