Insider Selling: Prudential Financial (NYSE:PRU) Chairman Sells $5,172,331.96 in Stock

Prudential Financial, Inc. (NYSE:PRU) Chairman Charles Lowrey sold 48,164 shares of the company’s stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $107.39, for a total transaction of $5,172,331.96. Following the sale, the chairman directly owned 165,564 shares of the company’s stock, valued at $17,779,917.96. This represents a 22.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Prudential Financial Stock Down 0.7%

Shares of NYSE:PRU opened at $107.12 on Friday. Prudential Financial, Inc. has a 52 week low of $90.38 and a 52 week high of $130.55. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.16 and a current ratio of 0.16. The company has a market cap of $37.49 billion, a PE ratio of 14.71, a price-to-earnings-growth ratio of 0.88 and a beta of 1.05. The firm has a 50 day simple moving average of $103.70 and a 200 day simple moving average of $104.68.

Prudential Financial (NYSE:PRU) last issued its earnings results on Wednesday, January 15th. The financial services provider reported $3.58 EPS for the quarter. The business had revenue of $8.35 billion during the quarter. Prudential Financial had a return on equity of 16.98% and a net margin of 4.65%. As a group, research analysts expect that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 11th. Investors of record on Tuesday, November 18th will be issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 5.0%. The ex-dividend date is Tuesday, November 18th. Prudential Financial’s dividend payout ratio (DPR) is currently 74.18%.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Keefe, Bruyette & Woods upped their price objective on shares of Prudential Financial from $117.00 to $118.00 and gave the company a “market perform” rating in a research note on Monday, November 3rd. Wolfe Research initiated coverage on Prudential Financial in a report on Tuesday, September 16th. They set a “peer perform” rating for the company. Wall Street Zen raised Prudential Financial from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Morgan Stanley lifted their price target on Prudential Financial from $117.00 to $118.00 and gave the company an “equal weight” rating in a report on Tuesday, October 7th. Finally, Barclays cut their price objective on shares of Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $120.73.

Hedge Funds Weigh In On Prudential Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Schonfeld Strategic Advisors LLC bought a new stake in shares of Prudential Financial during the 3rd quarter worth $11,955,000. Lazard Asset Management LLC lifted its position in Prudential Financial by 4,976.0% during the 3rd quarter. Lazard Asset Management LLC now owns 22,436 shares of the financial services provider’s stock worth $2,328,000 after acquiring an additional 21,994 shares during the last quarter. AQR Capital Management LLC grew its position in shares of Prudential Financial by 22.3% in the third quarter. AQR Capital Management LLC now owns 505,777 shares of the financial services provider’s stock valued at $52,459,000 after purchasing an additional 92,377 shares during the last quarter. Zacks Investment Management increased its stake in shares of Prudential Financial by 0.6% in the third quarter. Zacks Investment Management now owns 864,706 shares of the financial services provider’s stock worth $89,705,000 after purchasing an additional 4,995 shares during the period. Finally, Credit Agricole S A bought a new stake in Prudential Financial during the 3rd quarter valued at approximately $13,317,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

About Prudential Financial

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.