Huntington National Bank Decreases Stake in Prudential Financial Inc. (PRU)
Huntington National Bank decreased its stake in Prudential Financial Inc. (NYSE:PRU) by 27.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 167,313 shares of the company’s stock after selling 64,099 shares during the period. Huntington National Bank’s holdings in Prudential Financial were worth $11,936,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Americafirst Capital Management LLC acquired a new stake in Prudential Financial during the second quarter valued at $100,000. Gierl Augustine Investment Management Inc raised its stake in shares of Prudential Financial by 14.4% in the second quarter. Gierl Augustine Investment Management Inc now owns 1,632 shares of the company’s stock valued at $116,000 after buying an additional 206 shares during the last quarter. Seven Eight Capital LLC raised its stake in shares of Prudential Financial by 757.0% in the first quarter. Seven Eight Capital LLC now owns 2,151 shares of the company’s stock valued at $155,000 after buying an additional 1,900 shares during the last quarter. Ariel Capital Advisors LLC purchased a new stake in shares of Prudential Financial during the second quarter valued at approximately $210,000. Finally, Lazard Asset Management LLC raised its stake in shares of Prudential Financial by 16.9% in the first quarter. Lazard Asset Management LLC now owns 3,116 shares of the company’s stock valued at $225,000 after buying an additional 451 shares during the last quarter. Hedge funds and other institutional investors own 60.62% of the company’s stock.
Prudential Financial Inc. (NYSE:PRU) traded up 0.27% during midday trading on Wednesday, reaching $84.60. 1,869,455 shares of the company’s stock were exchanged. The firm’s 50-day moving average is $80.25 and its 200 day moving average is $76.38. The stock has a market cap of $36.97 billion, a P/E ratio of 8.69 and a beta of 1.68. Prudential Financial Inc. has a 1-year low of $57.19 and a 1-year high of $88.77.
Prudential Financial (NYSE:PRU) last announced its earnings results on Wednesday, August 3rd. The company reported $1.84 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.51 by $0.67. Prudential Financial had a return on equity of 8.11% and a net margin of 8.90%. During the same quarter in the prior year, the company earned $2.91 earnings per share. Equities analysts anticipate that Prudential Financial Inc. will post ($0.01) earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Tuesday, August 23rd were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date of this dividend was Friday, August 19th. Prudential Financial’s dividend payout ratio is presently 28.78%.
Several equities research analysts have commented on the stock. Evercore ISI assumed coverage on shares of Prudential Financial in a research note on Wednesday, July 6th. They issued a “hold” rating and a $78.00 price target on the stock. Zacks Investment Research upgraded shares of Prudential Financial from a “sell” rating to a “hold” rating in a research note on Thursday, July 14th. Goldman Sachs Group Inc. upgraded shares of Prudential Financial from a “neutral” rating to a “buy” rating and raised their price target for the company from $80.00 to $93.00 in a research note on Friday, September 23rd. Citigroup Inc. dropped their price target on shares of Prudential Financial from $83.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, July 7th. Finally, Credit Suisse Group AG assumed coverage on shares of Prudential Financial in a research note on Friday, October 7th. They issued a “neutral” rating and a $89.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $89.13.
In related news, insider Stephen Pelletier sold 4,470 shares of the business’s stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $76.36, for a total transaction of $341,329.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Charles F. Lowrey sold 50,322 shares of the business’s stock in a transaction that occurred on Wednesday, October 5th. The stock was sold at an average price of $85.00, for a total transaction of $4,277,370.00. Following the sale, the insider now directly owns 92,458 shares of the company’s stock, valued at $7,858,930. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by company insiders.
About Prudential Financial
Prudential Financial, Inc is a financial services company. The Company, through its subsidiaries and affiliates, provides a range of financial products and services, including life insurance, annuities and investment management. The Company’s divisions include U.S. Retirement Solutions and Investment Management Division; U.S.
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