Prudential Financial (NYSE:PRU) Stock: Insider Ann Kappler Sells 2,797 Shares

Prudential Financial, Inc. (NYSE:PRU) EVP Ann Kappler sold 2,797 shares of the stock in a transaction on Friday, November 6th. The stock was sold at an average price of $120.60, for a total value of $337,318.20. Following the transaction, the executive vice president directly owned 14,482 shares in the company, valued at $1,746,529.20. The trade was a 16.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Prudential Financial Stock Performance

PRU stock opened at $123.00 on Thursday. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.17 and a quick ratio of 0.17. The business has a 50-day moving average price of $117.26 and a 200 day moving average price of $109.18. The company has a market capitalization of $42.19 billion, a P/E ratio of 8.35, a PEG ratio of 1.95 and a beta of 0.85. Prudential Financial, Inc. has a 1-year low of $91.89 and a 1-year high of $128.78.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Tuesday, November 3rd. The financial services provider reported $3.77 earnings per share for the quarter, topping analysts’ consensus estimates of $3.33 by $0.44. Prudential Financial had a net margin of 6.75% and a return on equity of 16.38%. The company had revenue of $14.45 billion during the quarter, compared to analyst estimates of $14.66 billion. During the same period in the prior year, the firm earned $4.26 earnings per share. As a group, equities research analysts forecast that Prudential Financial, Inc. will post 13.60 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Tuesday, November 24th will be given a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 4.6%. The ex-dividend date of this dividend is Tuesday, November 24th. Prudential Financial’s dividend payout ratio is presently 50.96%.

Institutional Trading of Prudential Financial

Several hedge funds have recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of Prudential Financial in the 2nd quarter valued at about $3,507,481,000. Bank of New York Mellon Corp purchased a new position in shares of Prudential Financial in the 2nd quarter worth approximately $209,055,000. Bank of America Corp DE purchased a new position in shares of Prudential Financial in the 2nd quarter worth approximately $208,957,000. Deutsche Bank AG bought a new position in shares of Prudential Financial during the 2nd quarter worth approximately $157,752,000. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of Prudential Financial by 95.3% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,556,748 shares of the financial services provider’s stock worth $249,769,000 after acquiring an additional 1,247,371 shares in the last quarter. 56.83% of the stock is owned by hedge funds and other institutional investors.

Latest Prudential Financial News

These are some of the PRU news items that stood out recently:

• Positive Sentiment: Prudential declared a quarterly dividend of $1.40 per share, equivalent to $5.60 annually and a yield of about 4.6%. The dividend supports the stock’s appeal to income-focused investors. Dividend announcement
• Neutral Sentiment: UBS raised its price target from $92 to $125 but maintained a neutral rating. The new target implies only about 1.6% upside from the cited $123 share price, suggesting limited near-term upside in the analyst’s view. UBS rating information
• Negative Sentiment: Three executives sold a combined 9,135 shares on November 6: CEO Andrew Sullivan, EVP Ann Kappler and SVP Robert Boyle. The sales may weigh on sentiment, although the filings do not give the executives’ reasons. Read More.; Read More.; Read More..

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on PRU shares. Mizuho set a $108.00 price objective on shares of Prudential Financial in a report on Monday, October 12th. Wall Street Zen lowered Prudential Financial from a “buy” rating to a “hold” rating in a report on Monday, September 28th. Piper Sandler upped their target price on Prudential Financial from $120.00 to $133.00 and gave the stock a “neutral” rating in a report on Thursday, November 5th. UBS Group increased their target price on Prudential Financial from $92.00 to $125.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Weiss Ratings downgraded Prudential Financial from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, October 14th. Two equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and six have assigned a Sell rating to the company. According to MarketBeat.com, Prudential Financial has a consensus rating of “Reduce” and a consensus price target of $114.20.

Prudential Financial Company Profile

Prudential Financial, Inc. is a financial services company headquartered in Newark, New Jersey. Founded in 1875 as the Prudential Friendly Society, it has grown into a provider of insurance, retirement and investment services. The company offers life insurance, annuities, workplace benefits and retirement-related products and services. Through its asset management businesses, Prudential also serves individual and institutional investors. Prudential serves customers in the United States and operates internationally, with a significant presence in Japan and other markets.