Key Points
- Thomas Stoddard, a Prudential director, purchased 250 shares on Feb. 17 at $102.97 each for $25,742.50, a transaction disclosed on an SEC Form 4.
- Prudential raised its quarterly dividend to $1.40 (annualized $5.60), a ~5.4% yield; the ex-dividend date was Feb. 17 and the payment is scheduled for Mar. 12.
- Prudential reported Q4 EPS of $3.30 (below the $3.37 estimate) while revenue beat at $15.69B, and analysts have an average "Hold" rating with a $117.11 target.
Prudential Financial, Inc. (NYSE:PRU - Get Free Report) Director Thomas Stoddard purchased 250 shares of the business's stock in a transaction on Tuesday, February 17th. The shares were purchased at an average cost of $102.97 per share, for a total transaction of $25,742.50. Following the transaction, the director owned 250 shares of the company's stock, valued at $25,742.50. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Prudential Financial Stock Performance
Shares of PRU opened at $104.41 on Thursday. The company's 50 day simple moving average is $111.37 and its 200-day simple moving average is $107.44. The firm has a market cap of $36.33 billion, a PE ratio of 10.44, a price-to-earnings-growth ratio of 1.18 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 issued its quarterly earnings results on Tuesday, February 3rd. The financial services provider reported $3.30 earnings per share for the quarter, missing analysts' consensus estimates of $3.37 by ($0.07). The business had revenue of $15.69 billion for the quarter, compared to analyst estimates 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 company earned $2.96 EPS. As a group, equities analysts predict that Prudential Financial, Inc. will post 14.36 EPS for the current year.
Prudential Financial Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 12th. Shareholders of record on Tuesday, February 17th will be given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 5.4%. The ex-dividend date of this dividend is Tuesday, February 17th. This is a positive change from Prudential Financial's previous quarterly dividend of $1.35. Prudential Financial's payout ratio is 56.00%.
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in PRU. Jessup Wealth Management Inc acquired a new position in Prudential Financial in the fourth quarter valued at $25,000. Garton & Associates Financial Advisors LLC purchased a new stake in Prudential Financial in the 4th quarter valued at about $26,000. Salomon & Ludwin LLC increased its stake in shares of Prudential Financial by 98.3% during 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 purchased a new position in shares of Prudential Financial during the 4th quarter worth about $28,000. Finally, Coston McIsaac & Partners grew its holdings in Prudential Financial by 93.4% in the fourth quarter. Coston McIsaac & Partners now owns 265 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 128 shares during the period. Hedge funds and other institutional investors own 56.83% of the company's stock.
Analysts Set New Price Targets
A number of brokerages recently commented on PRU. Piper Sandler raised their price objective on shares of Prudential Financial from $110.00 to $120.00 and gave the company a "neutral" rating in a research report on Tuesday, December 23rd. JPMorgan Chase & Co. cut their target price on shares of Prudential Financial from $133.00 to $127.00 and set a "neutral" rating for the company in a research report on Wednesday, February 4th. Evercore lowered their price target on shares of Prudential Financial from $122.00 to $110.00 and set an "in-line" rating on the stock in a research report on Thursday, February 5th. Mizuho cut their price objective on Prudential Financial from $126.00 to $113.00 and set a "neutral" rating for the company in a research report on Tuesday, February 10th. Finally, Wall Street Zen downgraded Prudential Financial from a "buy" rating to a "hold" rating in a research report on Saturday, January 10th. One analyst has rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, Prudential Financial has an average rating of "Hold" and an average target price of $117.11.
Get Our Latest Stock Report on Prudential Financial
About Prudential Financial
(
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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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