Mitchell Sinkler & Starr PA Boosts Holdings in Prudential Financial, Inc. (NYSE:PRU)

Mitchell Sinkler & Starr PA boosted its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 16.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,501 shares of the financial services provider’s stock after buying an additional 351 shares during the period. Mitchell Sinkler & Starr PA’s holdings in Prudential Financial were worth $313,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Annex Advisory Services LLC lifted its position in Prudential Financial by 3.4% during the 2nd quarter. Annex Advisory Services LLC now owns 2,467 shares of the financial services provider’s stock worth $289,000 after acquiring an additional 81 shares during the period. Raymond James Trust N.A. increased its holdings in Prudential Financial by 1.1% in the 2nd quarter. Raymond James Trust N.A. now owns 8,117 shares of the financial services provider’s stock worth $951,000 after buying an additional 87 shares during the period. Peoples Bank OH raised its position in Prudential Financial by 2.3% during the 1st quarter. Peoples Bank OH now owns 4,046 shares of the financial services provider’s stock worth $475,000 after buying an additional 90 shares during the last quarter. Quotient Wealth Partners LLC boosted its holdings in shares of Prudential Financial by 3.9% in the 2nd quarter. Quotient Wealth Partners LLC now owns 2,424 shares of the financial services provider’s stock valued at $284,000 after acquiring an additional 92 shares during the last quarter. Finally, Sequoia Financial Advisors LLC increased its stake in shares of Prudential Financial by 1.3% in the first quarter. Sequoia Financial Advisors LLC now owns 7,449 shares of the financial services provider’s stock worth $875,000 after acquiring an additional 94 shares during the period. 56.83% of the stock is owned by hedge funds and other institutional investors.

Prudential Financial Stock Down 0.3 %

PRU stock opened at $114.65 on Wednesday. The company has a market cap of $41.16 billion, a price-to-earnings ratio of 19.50, a PEG ratio of 0.88 and a beta of 1.30. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.65. Prudential Financial, Inc. has a 12 month low of $87.95 and a 12 month high of $128.52. The firm has a 50-day moving average of $118.02 and a two-hundred day moving average of $115.82.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Thursday, August 1st. The financial services provider reported $3.39 earnings per share for the quarter, missing the consensus estimate of $3.43 by ($0.04). Prudential Financial had a net margin of 4.86% and a return on equity of 16.00%. The firm had revenue of $13.84 billion during the quarter, compared to analysts’ expectations of $13.78 billion. As a group, analysts forecast that Prudential Financial, Inc. will post 13.31 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Tuesday, August 20th will be paid a $1.30 dividend. The ex-dividend date is Tuesday, August 20th. This represents a $5.20 annualized dividend and a dividend yield of 4.54%. Prudential Financial’s dividend payout ratio (DPR) is 88.44%.

Insider Activity

In related news, major shareholder Insurance Co Of Ame Prudential acquired 652,884 shares of the stock in a transaction that occurred on Thursday, June 20th. The stock was purchased at an average price of $27.57 per share, with a total value of $18,000,011.88. Following the transaction, the insider now owns 3,883,390 shares of the company’s stock, valued at approximately $107,065,062.30. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Caroline Feeney sold 1,110 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total transaction of $133,166.70. Following the completion of the transaction, the executive vice president now owns 10,175 shares of the company’s stock, valued at approximately $1,220,694.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Insurance Co Of Ame Prudential acquired 652,884 shares of the stock in a transaction that occurred on Thursday, June 20th. The shares were bought at an average cost of $27.57 per share, with a total value of $18,000,011.88. Following the transaction, the insider now directly owns 3,883,390 shares in the company, valued at approximately $107,065,062.30. The disclosure for this purchase can be found here. Corporate insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

PRU has been the topic of several recent research reports. JPMorgan Chase & Co. upped their price target on shares of Prudential Financial from $118.00 to $128.00 and gave the company a “neutral” rating in a report on Tuesday, July 2nd. Argus raised shares of Prudential Financial to a “strong-buy” rating in a research note on Thursday, August 8th. Jefferies Financial Group lowered their target price on shares of Prudential Financial from $143.00 to $141.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. UBS Group upped their price target on shares of Prudential Financial from $112.00 to $119.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. Finally, Wells Fargo & Company upgraded shares of Prudential Financial from an “underweight” rating to an “equal weight” rating and set a $113.00 price target for the company in a research report on Monday, August 12th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $120.83.

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.