Prudential Financial (NYSE:PRU) EVP Sells 7,652 Shares

Prudential Financial, Inc. (NYSE:PRU) EVP Ann Kappler sold 7,652 shares of the company’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $125.01, for a total transaction of $956,576.52. Following the completion of the transaction, the executive vice president owned 14,407 shares in the company, valued at approximately $1,801,019.07. This trade represents a 34.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Prudential Financial Trading Down 0.0%

Shares of NYSE PRU traded down $0.01 during midday trading on Tuesday, reaching $124.55. 1,324,089 shares of the stock were exchanged, compared to its average volume of 2,134,956. The company has a market capitalization of $42.97 billion, a P/E ratio of 11.28, a P/E/G ratio of 2.38 and a beta of 0.84. Prudential Financial, Inc. has a 52-week low of $91.89 and a 52-week high of $127.72. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.62. The stock has a 50 day moving average price of $115.36 and a 200-day moving average price of $105.33.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.52 by $0.56. Prudential Financial had a net margin of 6.51% and a return on equity of 16.68%. The business had revenue of $14.15 billion for the quarter, compared to the consensus estimate of $14.36 billion. During the same quarter in the prior year, the firm posted $3.58 earnings per share. Equities research analysts expect that Prudential Financial, Inc. will post 14.17 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Tuesday, August 25th will be paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend is Tuesday, August 25th. Prudential Financial’s dividend payout ratio is currently 50.72%.

Institutional Trading of Prudential Financial

A number of institutional investors have recently modified their holdings of PRU. Beacon Pointe Advisors LLC purchased a new position in Prudential Financial in the second quarter valued at approximately $1,202,000. 49 Wealth Management LLC acquired a new stake in shares of Prudential Financial in the second quarter worth $205,000. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in shares of Prudential Financial in the second quarter worth $245,000. Rakuten Investment Management Inc. purchased a new position in shares of Prudential Financial in the 2nd quarter valued at $6,203,000. Finally, Glenview Trust Co acquired a new position in shares of Prudential Financial during the 2nd quarter valued at $274,000. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on PRU shares. Zacks Research raised Prudential Financial from a “strong sell” rating to a “hold” rating in a research report on Friday, June 12th. Wall Street Zen lowered Prudential Financial from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Morgan Stanley restated an “underweight” rating and issued a $92.00 price target (down from $106.00) on shares of Prudential Financial in a report on Monday, May 4th. JPMorgan Chase & Co. increased their price objective on shares of Prudential Financial from $129.00 to $131.00 and gave the stock a “neutral” rating in a report on Monday. Finally, Argus lowered shares of Prudential Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, June 9th. One investment analyst has rated the stock with a Buy rating, eleven have given a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $107.77.

About Prudential Financial

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.