Prudential Financial Inc (NYSE:PRU) EVP Robert Falzon sold 39,748 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $96.44, for a total value of $3,833,297.12. Following the sale, the executive vice president now owns 85,396 shares of the company’s stock, valued at approximately $8,235,590.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Prudential Financial stock opened at $95.57 on Friday. The stock has a fifty day simple moving average of $94.12 and a 200 day simple moving average of $90.61. Prudential Financial Inc has a 12-month low of $77.65 and a 12-month high of $106.39. The company has a market capitalization of $38.15 billion, a P/E ratio of 9.43, a price-to-earnings-growth ratio of 0.85 and a beta of 1.53. The company has a current ratio of 0.10, a quick ratio of 0.11 and a debt-to-equity ratio of 0.29.
Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Tuesday, February 4th. The financial services provider reported $2.33 EPS for the quarter, beating analysts’ consensus estimates of $2.02 by $0.31. The business had revenue of $17.45 billion during the quarter, compared to analyst estimates of $14.23 billion. Prudential Financial had a return on equity of 7.81% and a net margin of 7.20%. During the same period in the prior year, the firm posted $2.44 EPS. On average, analysts predict that Prudential Financial Inc will post 12.33 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Stockholders of record on Tuesday, February 18th will be paid a $1.10 dividend. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Friday, February 14th. This represents a $4.40 annualized dividend and a dividend yield of 4.60%. Prudential Financial’s dividend payout ratio is presently 34.22%.
Several hedge funds have recently made changes to their positions in PRU. Savant Capital LLC raised its stake in shares of Prudential Financial by 1.9% during the 4th quarter. Savant Capital LLC now owns 6,335 shares of the financial services provider’s stock worth $594,000 after purchasing an additional 116 shares during the period. Migdal Insurance & Financial Holdings Ltd. increased its holdings in Prudential Financial by 6.9% during the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,787 shares of the financial services provider’s stock worth $168,000 after buying an additional 116 shares during the last quarter. Carlton Hofferkamp & Jenks Wealth Management LLC raised its position in Prudential Financial by 1.9% in the fourth quarter. Carlton Hofferkamp & Jenks Wealth Management LLC now owns 6,407 shares of the financial services provider’s stock worth $579,000 after acquiring an additional 118 shares during the period. Prestige Wealth Management Group LLC boosted its stake in Prudential Financial by 13.0% in the fourth quarter. Prestige Wealth Management Group LLC now owns 1,059 shares of the financial services provider’s stock valued at $99,000 after acquiring an additional 122 shares during the last quarter. Finally, CENTRAL TRUST Co grew its position in shares of Prudential Financial by 5.1% during the 4th quarter. CENTRAL TRUST Co now owns 2,544 shares of the financial services provider’s stock valued at $239,000 after acquiring an additional 124 shares during the period. Institutional investors own 62.01% of the company’s stock.
A number of equities analysts have recently weighed in on the company. Citigroup cut Prudential Financial from a “neutral” rating to a “sell” rating and cut their target price for the stock from $88.00 to $86.00 in a report on Monday, November 25th. ValuEngine lowered shares of Prudential Financial from a “hold” rating to a “sell” rating in a research note on Thursday, February 6th. DOWLING & PARTN restated a “buy” rating on shares of Prudential Financial in a research note on Monday, November 18th. Royal Bank of Canada restated a “buy” rating and set a $110.00 price objective on shares of Prudential Financial in a report on Sunday, December 22nd. Finally, Wells Fargo & Co lowered shares of Prudential Financial from an “outperform” rating to a “market perform” rating and set a $92.00 price objective on the stock. in a research note on Tuesday, November 5th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $97.33.
Prudential Financial Company Profile
Prudential Financial, Inc, through its subsidiaries, provides insurance, investment management, and other financial products and services. It operates through PGIM, U.S. Workplace Solutions, U.S. Individual Solutions, and International Insurance divisions. The PGIM division offers an array of asset management and advisory services related to public and private fixed income, public equity and real estate, commercial mortgage origination and servicing, and mutual funds and other retail services to institutional, private, and sub-advisory clients, as well as to insurance company separate accounts, government sponsored entities, and the general account.
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