STAR Financial Bank Has $376,000 Holdings in Prudential Financial, Inc. (NYSE:PRU)

STAR Financial Bank lifted its holdings in shares of Prudential Financial, Inc. (NYSE:PRUFree Report) by 5.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,201 shares of the financial services provider’s stock after buying an additional 173 shares during the period. STAR Financial Bank’s holdings in Prudential Financial were worth $376,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Cambridge Trust Co. raised its holdings in shares of Prudential Financial by 77.2% in the 4th quarter. Cambridge Trust Co. now owns 241 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 105 shares during the period. Bruce G. Allen Investments LLC bought a new position in Prudential Financial in the 4th quarter valued at about $26,000. Headinvest LLC bought a new position in Prudential Financial in the 3rd quarter valued at about $27,000. Arlington Trust Co LLC raised its holdings in Prudential Financial by 151.6% in the 4th quarter. Arlington Trust Co LLC now owns 307 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 185 shares during the period. Finally, Riverview Trust Co bought a new position in shares of Prudential Financial during the first quarter worth approximately $37,000. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Prudential Financial

In other news, SVP Timothy L. Schmidt sold 5,189 shares of Prudential Financial stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $116.58, for a total transaction of $604,933.62. Following the completion of the transaction, the senior vice president now directly owns 12,236 shares in the company, valued at $1,426,472.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Timothy L. Schmidt sold 5,189 shares of Prudential Financial stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $116.58, for a total transaction of $604,933.62. Following the completion of the transaction, the senior vice president now directly owns 12,236 shares in the company, valued at $1,426,472.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Robert Falzon sold 130,092 shares of Prudential Financial stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $118.57, for a total transaction of $15,425,008.44. Following the transaction, the executive vice president now owns 202,083 shares of the company’s stock, valued at $23,960,981.31. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PRU. Jefferies Financial Group reduced their price target on shares of Prudential Financial from $143.00 to $141.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. Wells Fargo & Company raised their target price on shares of Prudential Financial from $100.00 to $106.00 and gave the company an “underweight” rating in a research report on Thursday, April 11th. JPMorgan Chase & Co. raised their target price on shares of Prudential Financial from $118.00 to $128.00 and gave the company a “neutral” rating in a research report on Tuesday, July 2nd. Morgan Stanley raised their target price on shares of Prudential Financial from $120.00 to $123.00 and gave the company an “equal weight” rating in a research report on Wednesday. Finally, Evercore ISI raised their price target on shares of Prudential Financial from $115.00 to $116.00 and gave the company an “underperform” rating in a research note on Thursday, April 25th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $116.67.

Check Out Our Latest Stock Analysis on Prudential Financial

Prudential Financial Trading Up 1.5 %

NYSE PRU traded up $1.77 during mid-day trading on Wednesday, reaching $120.40. 1,451,819 shares of the stock were exchanged, compared to its average volume of 1,459,669. Prudential Financial, Inc. has a one year low of $87.95 and a one year high of $121.39. The stock has a 50 day simple moving average of $117.45 and a 200-day simple moving average of $111.72. The stock has a market cap of $43.22 billion, a P/E ratio of 20.48, a P/E/G ratio of 0.88 and a beta of 1.34. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.13 and a quick ratio of 0.13.

Prudential Financial (NYSE:PRUGet Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $3.12 earnings per share for the quarter, missing the consensus estimate of $3.16 by ($0.04). Prudential Financial had a net margin of 3.76% and a return on equity of 15.50%. The company had revenue of $15.01 billion during the quarter, compared to the consensus estimate of $14.50 billion. During the same period last year, the firm posted $2.66 earnings per share. The company’s revenue for the quarter was up 69.9% on a year-over-year basis. On average, analysts anticipate that Prudential Financial, Inc. will post 13.41 EPS for the current year.

Prudential Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Tuesday, May 21st were paid a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 4.32%. The ex-dividend date was Monday, May 20th. Prudential Financial’s dividend payout ratio (DPR) is currently 88.44%.

Prudential Financial Profile

(Free Report)

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.

See Also

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

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