Prudential Financial, Inc. (NYSE:PRU - Get Free Report) SVP Timothy L. Schmidt sold 5,189 shares of Prudential Financial stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $116.58, for a total value of $604,933.62. Following the completion of the transaction, the senior vice president now owns 12,236 shares of the company's stock, valued at approximately $1,426,472.88. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Prudential Financial Stock Performance
Shares of NYSE PRU opened at $117.95 on Friday. The company has a market capitalization of $42.34 billion, a PE ratio of 20.06, a price-to-earnings-growth ratio of 0.83 and a beta of 1.35. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.13 and a current ratio of 0.13. The company's fifty day moving average price is $112.65 and its 200 day moving average price is $104.87. Prudential Financial, Inc. has a 1 year low of $77.87 and a 1 year high of $118.69.
Prudential Financial (NYSE:PRU - Get Free Report) last posted its earnings results on Tuesday, April 30th. The financial services provider reported $3.12 EPS for the quarter, missing analysts' consensus estimates of $3.16 by ($0.04). The business had revenue of $15.01 billion for the quarter, compared to analyst estimates of $14.50 billion. Prudential Financial had a net margin of 3.76% and a return on equity of 15.50%. Prudential Financial's revenue was up 69.9% on a year-over-year basis. During the same quarter last year, the business earned $2.66 earnings per share. On average, research analysts predict that Prudential Financial, Inc. will post 13.36 earnings per share for the current year.
Prudential Financial Dividend Announcement
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The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Tuesday, May 21st will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 4.41%. The ex-dividend date of this dividend is Monday, May 20th. Prudential Financial's dividend payout ratio is presently 88.44%.
Analysts Set New Price Targets
A number of equities analysts have commented on PRU shares. Raymond James downgraded shares of Prudential Financial from a "strong-buy" rating to a "market perform" rating in a research note on Friday, February 9th. UBS Group raised their price target on shares of Prudential Financial from $108.00 to $112.00 and gave the company a "neutral" rating in a report on Monday, February 12th. Piper Sandler cut their price target on shares of Prudential Financial from $125.00 to $121.00 and set a "neutral" rating on the stock in a report on Monday. Evercore ISI increased their price objective on Prudential Financial from $115.00 to $116.00 and gave the company an "underperform" rating in a report on Thursday, April 25th. Finally, Morgan Stanley raised their price target on Prudential Financial from $109.00 to $117.00 and gave the stock an "equal weight" rating in a report on Monday, April 15th. Two equities research analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $111.08.
Read Our Latest Stock Analysis on Prudential Financial
Institutional Trading of Prudential Financial
Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of Prudential Financial by 13.9% in the fourth quarter. Vanguard Group Inc. now owns 42,292,853 shares of the financial services provider's stock worth $4,386,192,000 after acquiring an additional 5,154,865 shares during the last quarter. International Assets Investment Management LLC lifted its stake in shares of Prudential Financial by 9,281.4% in the fourth quarter. International Assets Investment Management LLC now owns 1,368,839 shares of the financial services provider's stock worth $141,962,000 after buying an additional 1,354,248 shares in the last quarter. Norges Bank acquired a new position in Prudential Financial during the fourth quarter worth $113,478,000. Dimensional Fund Advisors LP boosted its holdings in Prudential Financial by 10.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,000,665 shares of the financial services provider's stock valued at $414,926,000 after purchasing an additional 388,363 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. acquired a new stake in shares of Prudential Financial during the 3rd quarter worth approximately $34,251,000. Institutional investors and hedge funds own 56.83% of the company's stock.
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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