Key Points
- Insurance Co. of America Prudential sold 214,746 Prudential Financial shares for approximately $5.3 million at an average price of $24.75, reducing its direct ownership by 2.62% to 7.97 million shares.
- Prudential Financial reported quarterly earnings of $3.61 per share, beating estimates of $3.09, while revenue reached $15.23 billion versus the $14.10 billion consensus forecast.
- The company pays a quarterly dividend of $1.40 per share, equivalent to $5.60 annually and a 4.6% yield. Analysts remain cautious, with an overall “Reduce” rating and an average price target of $105.46.
Prudential Financial, Inc. (NYSE:PRU - Get Free Report) major shareholder Insurance Co Of Ame Prudential sold 214,746 shares of Prudential Financial stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $24.75, for a total transaction of $5,314,963.50. Following the transaction, the insider directly owned 7,973,657 shares in the company, valued at approximately $197,348,010.75. This represents a 2.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own at least 10% of a company's stock are required to disclose their sales and purchases with the SEC.
Prudential Financial Price Performance
PRU opened at $122.86 on Friday. 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 12 month low of $91.89 and a 12 month high of $124.57. The company has a fifty day simple moving average of $110.50 and a 200 day simple moving average of $104.41. The stock has a market cap of $42.63 billion, a P/E ratio of 12.64, a P/E/G ratio of 2.44 and a beta of 0.85.
Prudential Financial (NYSE:PRU - Get Free Report) last posted its earnings results on Tuesday, May 5th. The financial services provider reported $3.61 earnings per share for the quarter, topping the consensus estimate of $3.09 by $0.52. Prudential Financial had a return on equity of 16.33% and a net margin of 5.83%.The firm had revenue of $15.23 billion for the quarter, compared to analyst estimates of $14.10 billion. During the same period in the previous year, the company posted $3.29 earnings per share. On average, research analysts expect that Prudential Financial, Inc. will post 13.83 EPS for the current year.
Prudential Financial Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Tuesday, May 26th were given a dividend of $1.40 per share. The ex-dividend date of this dividend was Tuesday, May 26th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 4.6%. Prudential Financial's dividend payout ratio (DPR) is currently 57.61%.
Wall Street Analyst Weigh In
Several brokerages recently issued reports on PRU. Wall Street Zen upgraded Prudential Financial from a "hold" rating to a "buy" rating in a research report on Saturday, July 18th. Zacks Research raised shares of Prudential Financial from a "strong sell" rating to a "hold" rating in a research note on Friday, June 12th. UBS Group reduced their price target on shares of Prudential Financial from $105.00 to $98.00 and set a "neutral" rating for the company in a report on Thursday, April 9th. Bank of America lowered their price objective on shares of Prudential Financial from $112.00 to $104.00 and set a "neutral" rating for the company in a research report on Tuesday, April 14th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Prudential Financial from $106.00 to $113.00 and gave the company a "market perform" rating in a research report on Monday, July 13th. One investment analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and five have assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Reduce" and an average price target of $105.46.
View Our Latest Research Report on Prudential Financial
Institutional Investors Weigh In On Prudential Financial
Several institutional investors have recently bought and sold shares of PRU. State Street Corp boosted its position in Prudential Financial by 1.2% during the 4th quarter. State Street Corp now owns 17,234,061 shares of the financial services provider's stock worth $1,945,381,000 after acquiring an additional 210,959 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Prudential Financial by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 9,533,806 shares of the financial services provider's stock valued at $1,078,904,000 after purchasing an additional 26,414 shares during the last quarter. Morgan Stanley lifted its position in shares of Prudential Financial by 6.7% in the fourth quarter. Morgan Stanley now owns 6,649,202 shares of the financial services provider's stock worth $750,562,000 after purchasing an additional 420,081 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Prudential Financial by 4.6% during the first quarter. Dimensional Fund Advisors LP now owns 3,758,545 shares of the financial services provider's stock worth $367,089,000 after purchasing an additional 166,641 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in Prudential Financial by 95.3% during the first quarter. Arrowstreet Capital Limited Partnership now owns 2,556,748 shares of the financial services provider's stock worth $249,769,000 after purchasing an additional 1,247,371 shares during the last quarter. Institutional investors own 56.83% of the company's stock.
Prudential Financial Company Profile
(
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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