Prudential Financial, Inc. (NYSE:PRU - Get Free Report) EVP Andrew F. Sullivan sold 6,000 shares of the firm's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $105.98, for a total value of $635,880.00. Following the sale, the executive vice president now owns 27,072 shares in the company, valued at $2,869,090.56. This trade represents a 18.14 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Prudential Financial Trading Up 3.4 %
PRU opened at $108.64 on Friday. The firm has a market capitalization of $38.89 billion, a P/E ratio of 14.54, a P/E/G ratio of 0.98 and a beta of 1.28. The firm's 50 day moving average is $114.31 and its 200-day moving average is $119.37. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.68. Prudential Financial, Inc. has a 52-week low of $104.45 and a 52-week high of $130.55.
Prudential Financial (NYSE:PRU - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share for the quarter, missing analysts' consensus estimates of $3.36 by ($0.40). Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. Analysts expect that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.
Prudential Financial Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th were given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.97%. This is a positive change from Prudential Financial's previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Tuesday, February 18th. Prudential Financial's dividend payout ratio is presently 72.29%.
Analyst Ratings Changes
Several analysts have commented on PRU shares. Barclays lifted their price target on Prudential Financial from $128.00 to $134.00 and gave the company an "equal weight" rating in a report on Wednesday, February 5th. Morgan Stanley cut their price target on shares of Prudential Financial from $136.00 to $128.00 and set an "equal weight" rating on the stock in a research note on Friday, February 28th. Keefe, Bruyette & Woods dropped their price objective on Prudential Financial from $129.00 to $125.00 and set a "market perform" rating for the company in a report on Wednesday, February 12th. BMO Capital Markets started coverage on Prudential Financial in a report on Thursday, January 23rd. They issued an "underperform" rating and a $101.00 target price on the stock. Finally, TD Cowen upped their price target on Prudential Financial from $130.00 to $133.00 and gave the stock a "hold" rating in a research note on Wednesday, November 27th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $126.15.
Read Our Latest Stock Analysis on PRU
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in the stock. Grove Bank & Trust lifted its position in shares of Prudential Financial by 65.9% during the fourth quarter. Grove Bank & Trust now owns 219 shares of the financial services provider's stock worth $26,000 after purchasing an additional 87 shares during the last quarter. Centricity Wealth Management LLC bought a new position in Prudential Financial during the 4th quarter worth approximately $29,000. Ashton Thomas Securities LLC acquired a new position in shares of Prudential Financial in the 3rd quarter worth approximately $31,000. CGC Financial Services LLC increased its holdings in shares of Prudential Financial by 82.1% in the 4th quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider's stock valued at $33,000 after acquiring an additional 124 shares during the last quarter. Finally, Wingate Wealth Advisors Inc. bought a new position in Prudential Financial during the fourth quarter worth $33,000. 56.83% of the stock is owned by institutional investors and hedge funds.
About Prudential Financial
(
Get Free Report)
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.
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