Key Points
- EVP Ann Kappler sold 2,797 Prudential Financial shares for about $337,318, reducing her holdings by 16.19% to 14,482 shares.
- Prudential reported quarterly EPS of $3.77, beating estimates of $3.33, while revenue of $14.45 billion came in below expectations of $14.66 billion.
- The company announced a quarterly dividend of $1.40 per share (a 4.5% yield); analysts’ consensus rating was “Reduce,” with an average price target of $112.40.
Prudential Financial, Inc. (NYSE:PRU - Get Free Report) EVP Ann Kappler sold 2,797 shares of the business's stock in a transaction dated Friday, November 6th. The shares were sold at an average price of $120.60, for a total value of $337,318.20. Following the sale, the executive vice president directly owned 14,482 shares of the company's stock, valued at $1,746,529.20. This represents a 16.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.
Prudential Financial Stock Performance
Shares of PRU opened at $123.38 on Wednesday. The business has a 50-day simple moving average of $117.14 and a two-hundred day simple moving average of $109.10. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.66. Prudential Financial, Inc. has a 52 week low of $91.89 and a 52 week high of $128.78. The stock has a market cap of $42.32 billion, a price-to-earnings ratio of 11.23, a PEG ratio of 1.93 and a beta of 0.85.
Prudential Financial (NYSE:PRU - Get Free Report) last posted its quarterly earnings data on Tuesday, November 3rd. The financial services provider reported $3.77 earnings per share for the quarter, beating analysts' consensus estimates of $3.33 by $0.44. The firm had revenue of $14.45 billion for the quarter, compared to analysts' expectations of $14.66 billion. Prudential Financial had a return on equity of 16.38% and a net margin of 6.75%. During the same period in the previous year, the firm earned $4.26 EPS. On average, analysts expect that Prudential Financial, Inc. will post 13.60 EPS for the current year.
Prudential Financial Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Tuesday, November 24th will be paid a dividend of $1.40 per share. The ex-dividend date is Tuesday, November 24th. This represents a $5.60 dividend on an annualized basis and a yield of 4.5%. Prudential Financial's dividend payout ratio (DPR) is presently 50.96%.
More Prudential Financial News
Here are the key news stories impacting Prudential Financial this week:
- Positive Sentiment: Prudential declared a quarterly common-stock dividend of $1.40 per share, payable December 10 to shareholders of record November 24. The payout may support PRU’s appeal to income-focused investors; the announcement did not specify a dividend increase. Dividend announcement
- Negative Sentiment: Three executives sold a combined 9,135 shares on November 6 for roughly $1.11 million. CEO Andrew F. Sullivan sold 3,544 shares; EVP Ann Kappler sold 2,797; and SVP Robert E. Boyle sold 2,794. The transactions may weigh on sentiment, though the filings do not state the executives’ reasons. Read More., Read More., Read More.
Analysts Set New Price Targets
PRU has been the topic of several analyst reports. Evercore dropped their price target on shares of Prudential Financial from $110.00 to $106.00 in a research report on Friday, October 9th. Weiss Ratings downgraded shares of Prudential Financial from a "buy (b)" rating to a "buy (b-)" rating in a research report on Wednesday, October 14th. TD Cowen lowered their target price on shares of Prudential Financial from $114.00 to $112.00 and set a "hold" rating on the stock in a research note on Wednesday, October 21st. BMO Capital Markets upped their target price on shares of Prudential Financial from $90.00 to $120.00 and gave the stock an "underperform" rating in a report on Friday, August 21st. Finally, JPMorgan Chase & Co. cut their price target on Prudential Financial from $127.00 to $124.00 and set a "neutral" rating for the company in a research note on Thursday, October 22nd. Two research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and six have given a Sell rating to the company. Based on data from MarketBeat, Prudential Financial currently has a consensus rating of "Reduce" and a consensus price target of $112.40.
View Our Latest Analysis on Prudential Financial
Institutional Investors Weigh In On Prudential Financial
Large investors have recently bought and sold shares of the business. BlackRock Inc. bought a new position in Prudential Financial during the second quarter valued at $3,507,481,000. State Street Corp grew its stake in shares of Prudential Financial by 1.2% in the 2nd quarter. State Street Corp now owns 17,164,760 shares of the financial services provider's stock worth $1,852,593,000 after buying an additional 209,179 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Prudential Financial by 4.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,758,545 shares of the financial services provider's stock worth $367,089,000 after buying an additional 166,641 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Prudential Financial by 95.3% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,556,748 shares of the financial services provider's stock worth $249,769,000 after buying an additional 1,247,371 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in shares of Prudential Financial in the 2nd quarter worth about $209,055,000. Institutional investors own 56.83% of the company's stock.
Prudential Financial Company Profile
(
Get Free Report)
Prudential Financial, Inc. is a financial services company headquartered in Newark, New Jersey. Founded in 1875 as the Prudential Friendly Society, it has grown into a provider of insurance, retirement and investment services. The company offers life insurance, annuities, workplace benefits and retirement-related products and services. Through its asset management businesses, Prudential also serves individual and institutional investors. Prudential serves customers in the United States and operates internationally, with a significant presence in Japan and other markets.
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