Prudential Financial, Inc. (NYSE:PRU) Shares Sold by STAR Financial Bank

STAR Financial Bank lessened its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 12.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,268 shares of the financial services provider’s stock after selling 336 shares during the quarter. STAR Financial Bank’s holdings in Prudential Financial were worth $253,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Private Advisor Group LLC boosted its position in shares of Prudential Financial by 4.9% during the 1st quarter. Private Advisor Group LLC now owns 61,703 shares of the financial services provider’s stock worth $6,891,000 after purchasing an additional 2,872 shares in the last quarter. Capital Management Corp VA lifted its stake in shares of Prudential Financial by 11.8% during the 1st quarter. Capital Management Corp VA now owns 79,506 shares of the financial services provider’s stock worth $8,879,000 after purchasing an additional 8,411 shares during the period. Retirement Planning Co of New England Inc. grew its holdings in Prudential Financial by 17.7% in the 1st quarter. Retirement Planning Co of New England Inc. now owns 3,385 shares of the financial services provider’s stock valued at $378,000 after buying an additional 508 shares during the period. Hardy Reed LLC raised its stake in Prudential Financial by 3.4% during the first quarter. Hardy Reed LLC now owns 6,412 shares of the financial services provider’s stock worth $716,000 after purchasing an additional 210 shares during the period. Finally, Woodward Diversified Capital LLC increased its stake in Prudential Financial by 7.9% during the first quarter. Woodward Diversified Capital LLC now owns 3,894 shares of the financial services provider’s stock worth $435,000 after acquiring an additional 286 shares during the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.

Insiders Place Their Bets

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential acquired 1,675,978 shares of Prudential Financial stock in a transaction that occurred on Monday, June 16th. The shares were bought at an average price of $28.64 per share, with a total value of $48,000,009.92. Following the completion of the purchase, the insider directly owned 3,168,461 shares in the company, valued at $90,744,723.04. This trade represents a 112.29% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 0.25% of the stock is owned by insiders.

Prudential Financial Price Performance

Shares of PRU stock opened at $103.31 on Friday. The stock has a 50-day moving average price of $105.31 and a 200 day moving average price of $108.40. The firm has a market cap of $36.57 billion, a price-to-earnings ratio of 16.37, a PEG ratio of 1.02 and a beta of 1.07. Prudential Financial, Inc. has a 12 month low of $90.38 and a 12 month high of $130.55. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.65.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $3.29 earnings per share for the quarter, beating analysts’ consensus estimates of $3.18 by $0.11. Prudential Financial had a net margin of 3.84% and a return on equity of 15.84%. The firm had revenue of $13.61 billion for the quarter, compared to analyst estimates of $14.76 billion. During the same quarter in the previous year, the firm posted $3.12 earnings per share. The business’s revenue was down 38.2% on a year-over-year basis. Research analysts expect that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Tuesday, May 20th were issued a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 5.23%. The ex-dividend date of this dividend was Tuesday, May 20th. Prudential Financial’s dividend payout ratio is currently 85.58%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Morgan Stanley cut their target price on Prudential Financial from $117.00 to $113.00 and set an “equal weight” rating on the stock in a research report on Monday, July 14th. UBS Group reduced their price objective on Prudential Financial from $122.00 to $110.00 and set a “neutral” rating for the company in a research report on Tuesday, May 27th. Piper Sandler reduced their price objective on Prudential Financial from $109.00 to $108.00 and set a “neutral” rating for the company in a research report on Wednesday. Keefe, Bruyette & Woods dropped their price target on shares of Prudential Financial from $120.00 to $117.00 and set a “market perform” rating on the stock in a research report on Wednesday, May 7th. Finally, Wells Fargo & Company dropped their price target on shares of Prudential Financial from $116.00 to $113.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Prudential Financial currently has a consensus rating of “Hold” and an average target price of $121.62.

Prudential Financial Company 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.