Prudential Financial, Inc. (NYSE:PRU - Get Free Report) EVP Ann Kappler sold 7,652 shares of the stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $125.01, for a total transaction of $956,576.52. Following the completion of the transaction, the executive vice president owned 14,407 shares of the company's stock, valued at $1,801,019.07. This represents a 34.69% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Prudential Financial Stock Down 0.0%
PRU stock opened at $124.55 on Wednesday. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.62. The company's 50-day moving average price is $115.78 and its 200 day moving average price is $105.44. Prudential Financial, Inc. has a 52 week low of $91.89 and a 52 week high of $127.72. The company has a market cap of $42.97 billion, a P/E ratio of 11.28, a P/E/G ratio of 2.38 and a beta of 0.84.
Prudential Financial (NYSE:PRU - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $4.08 EPS for the quarter, topping the consensus estimate of $3.52 by $0.56. The business had revenue of $14.15 billion for the quarter, compared to analyst estimates of $14.36 billion. Prudential Financial had a return on equity of 16.68% and a net margin of 6.51%.During the same quarter in the previous year, the company earned $3.58 EPS. On average, research analysts expect that Prudential Financial, Inc. will post 14.17 earnings per share for the current fiscal year.
Prudential Financial Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Tuesday, August 25th will be paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend is Tuesday, August 25th. Prudential Financial's dividend payout ratio is presently 50.72%.
Institutional Trading of Prudential Financial
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Jessup Wealth Management Inc acquired a new position in Prudential Financial during the fourth quarter valued at approximately $25,000. Garton & Associates Financial Advisors LLC purchased a new position in shares of Prudential Financial in the 4th quarter valued at $26,000. Salomon & Ludwin LLC lifted its holdings 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 in the last quarter. Basepoint Wealth LLC purchased a new stake in Prudential Financial during the 4th quarter worth $30,000. Finally, Coston McIsaac & Partners boosted its position in Prudential Financial by 93.4% during the 4th quarter. Coston McIsaac & Partners now owns 265 shares of the financial services provider's stock worth $29,000 after purchasing an additional 128 shares during the period. Institutional investors and hedge funds own 56.83% of the company's stock.
Analyst Ratings Changes
PRU has been the topic of several analyst reports. Piper Sandler raised their price objective on Prudential Financial from $110.00 to $128.00 and gave the stock a "neutral" rating in a report on Tuesday, August 11th. BMO Capital Markets cut their price objective on shares of Prudential Financial from $91.00 to $87.00 and set an "underperform" rating on the stock in a report on Thursday, April 23rd. Zacks Research raised shares of Prudential Financial from a "strong sell" rating to a "hold" rating in a research report on Friday, June 12th. Mizuho upped their price target on shares of Prudential Financial from $101.00 to $109.00 and gave the stock a "neutral" rating in a research report on Thursday, July 9th. Finally, Barclays increased their price target on shares of Prudential Financial from $90.00 to $92.00 and gave the stock an "underweight" rating in a research note on Tuesday, July 7th. One analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and five have given a Sell rating to the stock. According to MarketBeat, Prudential Financial has an average rating of "Reduce" and an average target price of $107.77.
Read Our Latest Stock Report on PRU
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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