STAR Financial Bank Cuts Position in Prudential Financial, Inc. (NYSE:PRU)

STAR Financial Bank lowered its holdings in Prudential Financial, Inc. (NYSE:PRU) by 11.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,931 shares of the financial services provider’s stock after selling 370 shares during the period. STAR Financial Bank’s holdings in Prudential Financial were worth $355,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of PRU. Seven Eight Capital LP bought a new position in Prudential Financial during the first quarter valued at about $300,000. Lake Street Advisors Group LLC boosted its stake in Prudential Financial by 33.4% in the first quarter. Lake Street Advisors Group LLC now owns 3,711 shares of the financial services provider’s stock valued at $436,000 after acquiring an additional 929 shares during the last quarter. Crewe Advisors LLC purchased a new stake in shares of Prudential Financial during the 1st quarter worth approximately $33,000. EntryPoint Capital LLC bought a new stake in shares of Prudential Financial in the 1st quarter worth approximately $77,000. Finally, CreativeOne Wealth LLC lifted its stake in Prudential Financial by 72.9% in the first quarter. CreativeOne Wealth LLC now owns 8,403 shares of the financial services provider’s stock valued at $986,000 after purchasing an additional 3,543 shares during the last quarter. Institutional investors own 56.83% of the company’s stock.

Prudential Financial Price Performance

Shares of NYSE PRU opened at $124.11 on Thursday. Prudential Financial, Inc. has a twelve month low of $93.60 and a twelve month high of $129.13. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $44.18 billion, a P/E ratio of 11.03, a P/E/G ratio of 0.89 and a beta of 1.29. The stock’s 50-day simple moving average is $122.86 and its two-hundred day simple moving average is $119.56.

Prudential Financial (NYSE:PRU) last announced its earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.47 by $0.01. The business had revenue of $19.48 billion during the quarter, compared to analyst estimates of $14.57 billion. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. During the same period in the previous year, the business posted $3.44 earnings per share. As a group, equities analysts anticipate that Prudential Financial, Inc. will post 13.33 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 19th will be paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 4.19%. The ex-dividend date of this dividend is Tuesday, November 19th. Prudential Financial’s dividend payout ratio (DPR) is presently 46.22%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. TD Cowen assumed coverage on Prudential Financial in a research note on Wednesday, October 9th. They issued a “hold” rating and a $130.00 target price on the stock. Argus raised shares of Prudential Financial to a “strong-buy” rating in a report on Thursday, August 8th. Barclays lifted their target price on shares of Prudential Financial from $118.00 to $119.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. Evercore ISI upgraded shares of Prudential Financial from an “underperform” rating to an “inline” rating and upped their price target for the company from $117.00 to $140.00 in a research note on Thursday, November 14th. Finally, Bank of America lifted their price objective on shares of Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Eleven analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $125.69.

Insider Buying and Selling at Prudential Financial

In other news, EVP Caroline Feeney sold 1,110 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total value of $133,166.70. Following the sale, the executive vice president now directly owns 10,175 shares of the company’s stock, valued at $1,220,694.75. This represents a 9.84 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Insurance Co Of Ame Prudential purchased 261,059 shares of the business’s stock in a transaction that occurred on Tuesday, October 8th. The stock was bought at an average price of $27.58 per share, for a total transaction of $7,200,007.22. Following the purchase, the insider now directly owns 4,208,549 shares in the company, valued at $116,071,781.42. The trade was a 6.61 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.31% of the company’s stock.

Prudential Financial 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.