Prudential Financial, Inc. (NYSE:PRU) EVP Robert Falzon sold 54,007 shares of the stock in a transaction dated Tuesday, January 4th. The shares were sold at an average price of $113.00, for a total transaction of $6,102,791.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
NYSE PRU opened at $114.79 on Friday. Prudential Financial, Inc. has a one year low of $77.27 and a one year high of $115.98. The company’s 50 day moving average price is $108.16 and its 200 day moving average price is $105.80. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.06 and a current ratio of 0.06. The firm has a market capitalization of $43.39 billion, a price-to-earnings ratio of 6.29, a PEG ratio of 0.81 and a beta of 1.63.
Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Tuesday, November 2nd. The financial services provider reported $3.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.68 by $1.10. The company had revenue of $19.66 billion for the quarter, compared to analyst estimates of $13.24 billion. Prudential Financial had a net margin of 11.82% and a return on equity of 9.33%. During the same quarter last year, the firm posted $3.21 earnings per share. Sell-side analysts forecast that Prudential Financial, Inc. will post 14.14 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 16th. Stockholders of record on Tuesday, November 23rd were paid a dividend of $1.15 per share. The ex-dividend date was Monday, November 22nd. This represents a $4.60 dividend on an annualized basis and a dividend yield of 4.01%. Prudential Financial’s dividend payout ratio is currently 25.12%.
Prudential Financial announced that its board has initiated a share repurchase plan on Tuesday, November 9th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 3.6% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.
Several institutional investors and hedge funds have recently bought and sold shares of PRU. Eagle Capital Management LLC acquired a new stake in shares of Prudential Financial during the second quarter worth approximately $3,576,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Prudential Financial during the second quarter worth approximately $1,793,000. XML Financial LLC acquired a new stake in shares of Prudential Financial during the third quarter worth approximately $3,351,000. Mariner LLC grew its position in shares of Prudential Financial by 32.2% during the second quarter. Mariner LLC now owns 18,717 shares of the financial services provider’s stock worth $1,918,000 after buying an additional 4,560 shares in the last quarter. Finally, FMR LLC grew its position in shares of Prudential Financial by 14.6% during the second quarter. FMR LLC now owns 3,629,537 shares of the financial services provider’s stock worth $371,918,000 after buying an additional 463,275 shares in the last quarter. Institutional investors own 56.14% of the company’s stock.
Several research firms have issued reports on PRU. Evercore ISI cut shares of Prudential Financial from an “in-line” rating to an “underperform” rating and raised their price target for the stock from $101.00 to $105.00 in a research note on Wednesday. JPMorgan Chase & Co. raised their price target on shares of Prudential Financial from $112.00 to $114.00 in a research note on Tuesday. The Goldman Sachs Group began coverage on shares of Prudential Financial in a research note on Thursday, December 2nd. They set a “neutral” rating and a $115.00 price target on the stock. Morgan Stanley raised their price target on shares of Prudential Financial from $112.00 to $114.00 and gave the stock an “equal weight” rating in a research note on Friday. Finally, Wells Fargo & Company raised their price target on shares of Prudential Financial from $109.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $108.46.
Prudential Financial Company Profile
Prudential Financial, Inc engages in the provision of financial products and services including life insurance, annuities, mutual funds, and investment management to both individual and institutional customers. It operates through the following segments: PGIM, International Businesses, Retirement, Group Insurance, Individual Annuities, Individual Life, Assurance IQ, Closed Block, and Corporate and Others.
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