Key Points
- Prudential EVP Jacques Chappuis bought 1,000 shares on Feb. 6 at $100.97 each for a $100,970 purchase, disclosed in an SEC Form 4 filing and bringing his holdings to 1,000 shares.
- Prudential raised its quarterly dividend to $1.40 (annualized $5.60) for a 5.5% yield, with an ex-dividend/record date of Feb. 17 and payment on Mar. 12.
- Recent quarter: EPS missed estimates ($3.30 vs. $3.37 expected) while revenue slightly beat at $14.52B; the stock trades at a P/E of 10.22 and carries an average analyst price target of $118.44 with a consensus "Hold."
Prudential Financial, Inc. (NYSE:PRU - Get Free Report) EVP Jacques Chappuis purchased 1,000 shares of Prudential Financial stock in a transaction on Friday, February 6th. The stock was bought at an average price of $100.97 per share, for a total transaction of $100,970.00. Following the completion of the acquisition, the executive vice president owned 1,000 shares in the company, valued at $100,970. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Prudential Financial Stock Down 0.5%
PRU opened at $102.24 on Tuesday. The company has a market capitalization of $35.78 billion, a PE ratio of 10.22, a price-to-earnings-growth ratio of 1.17 and a beta of 0.97. The firm has a 50-day simple moving average of $112.32 and a two-hundred day simple moving average of $107.41. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.58. Prudential Financial, Inc. has a 52 week low of $90.38 and a 52 week high of $119.76.
Prudential Financial (NYSE:PRU - Get Free Report) last posted its earnings results on Tuesday, February 3rd. The financial services provider reported $3.30 EPS for the quarter, missing analysts' consensus estimates of $3.37 by ($0.07). The firm had revenue of $14.52 billion during the quarter, compared to analysts' expectations of $14.48 billion. Prudential Financial had a return on equity of 16.32% and a net margin of 6.20%.During the same quarter in the prior year, the firm posted $2.96 earnings per share. Analysts forecast that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.
Prudential Financial Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Investors of record on Tuesday, February 17th will be issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 5.5%. This is a boost from Prudential Financial's previous quarterly dividend of $1.35. The ex-dividend date of this dividend is Tuesday, February 17th. Prudential Financial's payout ratio is 54.00%.
Wall Street Analyst Weigh In
PRU has been the topic of a number of recent research reports. Wells Fargo & Company increased their price objective on shares of Prudential Financial from $113.00 to $115.00 and gave the company an "equal weight" rating in a research report on Tuesday, January 13th. Weiss Ratings upgraded shares of Prudential Financial from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, January 12th. Piper Sandler increased their price target on shares of Prudential Financial from $110.00 to $120.00 and gave the company a "neutral" rating in a report on Tuesday, December 23rd. Evercore reduced their price objective on Prudential Financial from $122.00 to $110.00 and set an "in-line" rating on the stock in a research note on Thursday, February 5th. Finally, Keefe, Bruyette & Woods upped their price objective on Prudential Financial from $117.00 to $118.00 and gave the company a "market perform" rating in a research report on Monday, November 3rd. One equities research analyst has rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $118.44.
View Our Latest Research Report on PRU
Hedge Funds Weigh In On Prudential Financial
A number of large investors have recently bought and sold shares of PRU. Salomon & Ludwin LLC grew its position in Prudential Financial by 98.3% in the 4th quarter. Salomon & Ludwin LLC now owns 230 shares of the financial services provider's stock valued at $27,000 after acquiring an additional 114 shares during the last quarter. Lodestone Wealth Management LLC bought a new position in shares of Prudential Financial in the fourth quarter worth about $28,000. Coston McIsaac & Partners increased its stake in Prudential Financial by 93.4% in the 4th quarter. Coston McIsaac & Partners now owns 265 shares of the financial services provider's stock worth $29,000 after buying an additional 128 shares during the period. Wealth Watch Advisors INC bought a new stake in Prudential Financial during the 3rd quarter valued at about $30,000. Finally, Dunhill Financial LLC boosted its position in Prudential Financial by 982.8% in the 4th quarter. Dunhill Financial LLC now owns 314 shares of the financial services provider's stock valued at $35,000 after buying an additional 285 shares during the period. Hedge funds and other institutional investors own 56.83% of the company's stock.
About Prudential Financial
(
Get Free Report)
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.
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