Key Points
- SVP Timothy Schmidt sold 8,000 Prudential shares on Dec. 2 at an average price of $107.69 for proceeds of $861,520, reducing his holding by 40.95% to 11,535 shares (valued ~ $1.24M).
- Prudential declared a quarterly dividend of $1.35 per share (annualized $5.40) representing a ~5.0% yield, with record/ex-dividend date on Nov. 18 and payment on Dec. 11.
- Analysts have a consensus "Hold" rating with a $119.50 price target; the stock trades around $108, with a market cap of ~$37.8B and a P/E of 14.83.
Prudential Financial, Inc. (NYSE:PRU - Get Free Report) SVP Timothy Schmidt sold 8,000 shares of the business's stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $107.69, for a total transaction of $861,520.00. Following the sale, the senior vice president owned 11,535 shares in the company, valued at $1,242,204.15. This trade represents a 40.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
Prudential Financial Trading Down 0.2%
Prudential Financial stock opened at $107.96 on Wednesday. Prudential Financial, Inc. has a 12-month low of $90.38 and a 12-month high of $128.72. The stock has a market capitalization of $37.79 billion, a PE ratio of 14.83, a price-to-earnings-growth ratio of 0.88 and a beta of 0.97. The firm has a 50 day simple moving average of $104.14 and a 200-day simple moving average of $104.87. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.16 and a quick ratio of 0.16.
Prudential Financial (NYSE:PRU - Get Free Report) last released its earnings results on Wednesday, January 15th. The financial services provider reported $3.58 earnings per share for the quarter. Prudential Financial had a return on equity of 16.98% and a net margin of 4.65%.The firm had revenue of $8.35 billion during the quarter. As a group, equities research analysts expect that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.
Prudential Financial Announces Dividend
The company also recently announced 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 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date of this dividend is Tuesday, November 18th. Prudential Financial's payout ratio is presently 74.18%.
Hedge Funds Weigh In On Prudential Financial
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Econ Financial Services Corp acquired a new stake in shares of Prudential Financial during the second quarter worth approximately $1,662,000. Nordea Investment Management AB lifted its position in Prudential Financial by 49.2% in the 2nd quarter. Nordea Investment Management AB now owns 1,720,781 shares of the financial services provider's stock worth $184,192,000 after buying an additional 567,571 shares in the last quarter. Brookwood Investment Group LLC acquired a new stake in shares of Prudential Financial during the 2nd quarter valued at $289,000. Asahi Life Asset Management CO. LTD. purchased a new position in shares of Prudential Financial during the 2nd quarter valued at $298,000. Finally, AE Wealth Management LLC increased its stake in shares of Prudential Financial by 30.2% in the second quarter. AE Wealth Management LLC now owns 213,795 shares of the financial services provider's stock worth $22,970,000 after acquiring an additional 49,550 shares during the last quarter. Institutional investors and hedge funds own 56.83% of the company's stock.
Analyst Ratings Changes
Several brokerages have commented on PRU. Wolfe Research initiated coverage on shares of Prudential Financial in a research report on Tuesday, September 16th. They issued a "peer perform" rating on the stock. Barclays dropped their target price on shares of Prudential Financial from $120.00 to $117.00 and set an "equal weight" rating on the stock in a report on Wednesday, October 8th. Morgan Stanley raised their target price on shares of Prudential Financial from $117.00 to $118.00 and gave the stock an "equal weight" rating in a report on Tuesday, October 7th. Keefe, Bruyette & Woods upped their price target on Prudential Financial from $117.00 to $118.00 and gave the company a "market perform" rating in a report on Monday, November 3rd. Finally, Evercore ISI raised their price objective on Prudential Financial from $120.00 to $122.00 and gave the stock an "in-line" rating in a research note on Thursday, October 30th. One equities research analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Prudential Financial has a consensus rating of "Hold" and a consensus price target of $119.50.
View Our Latest Stock Analysis on PRU
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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