Huntington National Bank Sells 6,125 Shares of Prudential Financial, Inc. $PRU

Huntington National Bank decreased its position in Prudential Financial, Inc. (NYSE:PRU) by 3.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 154,084 shares of the financial services provider’s stock after selling 6,125 shares during the period. Huntington National Bank’s holdings in Prudential Financial were worth $15,985,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Chilton Capital Management LLC lifted its holdings in Prudential Financial by 146.5% in the 3rd quarter. Chilton Capital Management LLC now owns 350 shares of the financial services provider’s stock worth $36,000 after buying an additional 208 shares during the period. Darwin Wealth Management LLC purchased a new position in shares of Prudential Financial during the second quarter valued at approximately $36,000. AlphaCore Capital LLC bought a new position in shares of Prudential Financial during the second quarter valued at approximately $39,000. Capital A Wealth Management LLC lifted its stake in Prudential Financial by 4,600.0% in the second quarter. Capital A Wealth Management LLC now owns 376 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 368 shares during the period. Finally, Elevation Point Wealth Partners LLC bought a new stake in Prudential Financial in the second quarter valued at $51,000. 56.83% of the stock is currently owned by institutional investors.

Insider Activity at Prudential Financial

In related news, EVP Caroline Feeney sold 6,555 shares of the stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $116.28, for a total transaction of $762,215.40. Following the sale, the executive vice president directly owned 22,523 shares of the company’s stock, valued at $2,618,974.44. This trade represents a 22.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Insurance Co Of Ame Prudential bought 1,406,739 shares of the firm’s stock in a transaction on Friday, January 23rd. The stock was acquired at an average cost of $24.87 per share, with a total value of $34,985,598.93. Following the transaction, the insider owned 7,709,624 shares in the company, valued at $191,738,348.88. The trade was a 22.32% increase in their position. The SEC filing for this purchase provides additional information. Insiders have purchased 1,408,389 shares of company stock valued at $35,154,439 over the last ninety days. Corporate insiders own 0.25% of the company’s stock.

Prudential Financial Trading Down 4.0%

NYSE PRU opened at $98.22 on Friday. Prudential Financial, Inc. has a 12 month low of $90.38 and a 12 month high of $119.76. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.58. The stock’s fifty day moving average price is $109.25 and its 200-day moving average price is $107.35. The stock has a market cap of $34.18 billion, a P/E ratio of 9.82, a P/E/G ratio of 1.13 and a beta of 0.97.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Tuesday, February 3rd. The financial services provider reported $3.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.37 by ($0.07). Prudential Financial had a return on equity of 16.32% and a net margin of 6.20%.The company had revenue of $15.69 billion during the quarter, compared to analysts’ expectations of $14.48 billion. During the same period in the prior year, the firm earned $2.96 EPS. As a group, equities analysts forecast that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 12th. Stockholders of record on Tuesday, February 17th will be issued a dividend of $1.40 per share. The ex-dividend date is Tuesday, February 17th. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.35. This represents a $5.60 dividend on an annualized basis and a dividend yield of 5.7%. Prudential Financial’s dividend payout ratio is currently 56.00%.

Wall Street Analysts Forecast Growth

PRU has been the subject of several research reports. Keefe, Bruyette & Woods upped their price objective on shares of Prudential Financial from $117.00 to $118.00 and gave the stock a “market perform” rating in a report on Monday, November 3rd. Piper Sandler boosted their price target on shares of Prudential Financial from $110.00 to $120.00 and gave the company a “neutral” rating in a research report on Tuesday, December 23rd. Wall Street Zen lowered shares of Prudential Financial from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. Evercore reduced their target price on Prudential Financial from $122.00 to $110.00 and set an “in-line” rating on the stock in a report on Thursday, February 5th. Finally, Weiss Ratings raised Prudential Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, January 12th. One analyst has rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Prudential Financial presently has a consensus rating of “Hold” and a consensus target price of $115.78.

Prudential Financial Profile

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.