Key Points
- Director Joseph Wolk purchased 400 shares of Prudential at an average price of $105.32 on Feb. 11, a $42,128 transaction disclosed in an SEC filing.
- Prudential raised its quarterly dividend to $1.40 (annualized $5.60) for a 5.4% yield
- The company reported quarterly EPS of $3.30, missing estimates by $0.07 while revenue beat at $15.69 billion, and analysts on average maintain a "Hold" rating with a $117.11 consensus target.
Prudential Financial, Inc. (NYSE:PRU - Get Free Report) Director Joseph Wolk acquired 400 shares of the company's stock in a transaction that occurred on Wednesday, February 11th. The stock was acquired at an average cost of $105.32 per share, for a total transaction of $42,128.00. Following the acquisition, the director owned 400 shares of the company's stock, valued at $42,128. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Prudential Financial Stock Down 1.1%
Shares of PRU stock opened at $104.12 on Friday. The company has a 50 day simple moving average of $112.02 and a two-hundred day simple moving average of $107.36. The stock has a market cap of $36.44 billion, a P/E ratio of 10.41, a P/E/G ratio of 1.19 and a beta of 0.97. Prudential Financial, Inc. has a 12 month low of $90.38 and a 12 month high of $119.76. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.58.
Prudential Financial (NYSE:PRU - Get Free Report) last posted its quarterly earnings data on Tuesday, February 3rd. The financial services provider reported $3.30 EPS for the quarter, missing the consensus estimate of $3.37 by ($0.07). Prudential Financial had a return on equity of 16.32% and a net margin of 6.20%.The company had revenue of $15.69 billion during the quarter, compared to analysts' expectations of $14.48 billion. During the same quarter last year, the company earned $2.96 earnings per share. On average, research analysts expect that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.
Prudential Financial Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 12th. Stockholders of record on Tuesday, February 17th will be paid a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 5.4%. This is an increase from Prudential Financial's previous quarterly dividend of $1.35. The ex-dividend date of this dividend is Tuesday, February 17th. Prudential Financial's dividend payout ratio is 54.00%.
Analyst Ratings Changes
A number of equities research analysts have commented on the stock. JPMorgan Chase & Co. decreased their target price on shares of Prudential Financial from $133.00 to $127.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 4th. Mizuho decreased their price objective on shares of Prudential Financial from $126.00 to $113.00 and set a "neutral" rating on the stock in a research report on Tuesday. Wells Fargo & Company lifted their target price on shares of Prudential Financial from $113.00 to $115.00 and gave the company an "equal weight" rating in a research note on Tuesday, January 13th. Keefe, Bruyette & Woods increased their price target on Prudential Financial from $117.00 to $118.00 and gave the stock a "market perform" rating in a research note on Monday, November 3rd. Finally, UBS Group boosted their price objective on Prudential Financial from $111.00 to $116.00 and gave the company a "neutral" rating in a research report on Thursday, January 8th. One analyst has rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $117.11.
Check Out Our Latest Stock Report on Prudential Financial
Institutional Trading of Prudential Financial
Institutional investors and hedge funds have recently bought and sold shares of the stock. Sunflower Bank N.A. boosted its holdings in shares of Prudential Financial by 3.2% during the 4th quarter. Sunflower Bank N.A. now owns 2,911 shares of the financial services provider's stock valued at $329,000 after purchasing an additional 91 shares during the last quarter. Wetzel Investment Advisors Inc. lifted its position in shares of Prudential Financial by 0.9% in the fourth quarter. Wetzel Investment Advisors Inc. now owns 10,022 shares of the financial services provider's stock worth $1,131,000 after buying an additional 94 shares in the last quarter. CIBC Private Wealth Group LLC boosted its stake in Prudential Financial by 0.3% during the third quarter. CIBC Private Wealth Group LLC now owns 28,795 shares of the financial services provider's stock valued at $2,987,000 after buying an additional 97 shares during the last quarter. Transcend Capital Advisors LLC grew its holdings in Prudential Financial by 2.4% during the 4th quarter. Transcend Capital Advisors LLC now owns 4,175 shares of the financial services provider's stock valued at $471,000 after buying an additional 98 shares in the last quarter. Finally, Summit Global Investments increased its stake in Prudential Financial by 1.3% in the 2nd quarter. Summit Global Investments now owns 7,609 shares of the financial services provider's stock worth $817,000 after acquiring an additional 100 shares during the last quarter. 56.83% of the stock is currently owned by institutional investors.
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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