Prudential Financial Inc (NYSE:PRU) Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp reduced its holdings in Prudential Financial Inc (NYSE:PRU) by 36.5% in the 1st quarter, HoldingsChannel reports. The fund owned 95,151 shares of the financial services provider’s stock after selling 54,603 shares during the period. Fifth Third Bancorp’s holdings in Prudential Financial were worth $8,742,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new position in Prudential Financial in the 4th quarter worth about $632,295,000. BlackRock Inc. increased its position in Prudential Financial by 6.5% in the 1st quarter. BlackRock Inc. now owns 29,555,017 shares of the financial services provider’s stock worth $2,715,518,000 after purchasing an additional 1,810,818 shares during the last quarter. Bessemer Group Inc. increased its position in Prudential Financial by 15,678.7% in the 4th quarter. Bessemer Group Inc. now owns 1,143,482 shares of the financial services provider’s stock worth $93,251,000 after purchasing an additional 1,136,235 shares during the last quarter. Geode Capital Management LLC increased its position in Prudential Financial by 6.8% in the 4th quarter. Geode Capital Management LLC now owns 5,129,191 shares of the financial services provider’s stock worth $417,519,000 after purchasing an additional 326,075 shares during the last quarter. Finally, Northern Trust Corp increased its position in Prudential Financial by 6.3% in the 4th quarter. Northern Trust Corp now owns 5,154,006 shares of the financial services provider’s stock worth $420,310,000 after purchasing an additional 305,259 shares during the last quarter. 63.29% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE PRU opened at $99.23 on Friday. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.33. The stock has a market cap of $40.29 billion, a PE ratio of 8.49, a P/E/G ratio of 0.87 and a beta of 1.50. Prudential Financial Inc has a 52 week low of $75.61 and a 52 week high of $106.64.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Wednesday, May 1st. The financial services provider reported $3.00 EPS for the quarter, missing the Zacks’ consensus estimate of $3.14 by ($0.14). The company had revenue of $13.65 billion for the quarter, compared to analyst estimates of $13.74 billion. Prudential Financial had a net margin of 6.18% and a return on equity of 9.87%. During the same period in the prior year, the company posted $3.08 EPS. Research analysts expect that Prudential Financial Inc will post 12.74 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Tuesday, May 28th will be issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 4.03%. The ex-dividend date of this dividend is Friday, May 24th. Prudential Financial’s dividend payout ratio is 34.22%.

Several brokerages have weighed in on PRU. ValuEngine raised Prudential Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, May 1st. Zacks Investment Research raised Prudential Financial from a “hold” rating to a “buy” rating and set a $113.00 target price on the stock in a research report on Wednesday, May 8th. Citigroup set a $112.00 target price on Prudential Financial and gave the stock a “buy” rating in a research report on Thursday, May 23rd. UBS Group lowered Prudential Financial from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $116.00 to $112.00 in a research report on Monday, May 13th. Finally, Deutsche Bank upped their target price on Prudential Financial from $97.00 to $104.00 and gave the stock a “hold” rating in a research report on Friday, April 12th. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Prudential Financial has an average rating of “Buy” and an average price target of $112.38.

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Prudential Financial Profile

Prudential Financial, Inc, through its subsidiaries, provides insurance, investment management, and other financial products and services. It operates through PGIM, U.S. Workplace Solutions, U.S. Individual Solutions, and International Insurance divisions. The PGIM division offers an array of asset management and advisory services related to public and private fixed income, public equity and real estate, commercial mortgage origination and servicing, and mutual funds and other retail services to institutional, private, and sub-advisory clients, as well as to insurance company separate accounts, government sponsored entities, and the general account.

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Institutional Ownership by Quarter for Prudential Financial (NYSE:PRU)

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