Prudential Financial Inc. (NYSE:PRU) insider Charles F. Lowrey sold 50,322 shares of the firm’s stock in a transaction dated Wednesday, October 5th. The shares were sold at an average price of $85.00, for a total value of $4,277,370.00. Following the transaction, the insider now directly owns 92,458 shares in the company, valued at $7,858,930. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Prudential Financial Inc. (NYSE:PRU) opened at 84.53 on Friday. Prudential Financial Inc. has a one year low of $57.19 and a one year high of $88.77. The stock has a market capitalization of $36.94 billion, a price-to-earnings ratio of 8.68 and a beta of 1.68. The company has a 50-day moving average of $79.77 and a 200-day moving average of $76.18.
Prudential Financial (NYSE:PRU) last issued its earnings results on Wednesday, August 3rd. The company reported $1.84 EPS for the quarter, missing the Zacks’ consensus estimate of $2.51 by $0.67. Prudential Financial had a return on equity of 8.11% and a net margin of 8.90%. During the same quarter in the prior year, the company earned $2.91 earnings per share. On average, equities analysts forecast that Prudential Financial Inc. will post ($0.01) EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Tuesday, August 23rd were paid a $0.70 dividend. The ex-dividend date of this dividend was Friday, August 19th. This represents a $2.80 dividend on an annualized basis and a yield of 3.31%. Prudential Financial’s dividend payout ratio is currently 28.78%.
Several research firms recently issued reports on PRU. Wells Fargo & Co. began coverage on Prudential Financial in a research note on Friday, September 23rd. They issued a “market perform” rating on the stock. Zacks Investment Research cut Prudential Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, June 21st. Credit Suisse Group AG began coverage on Prudential Financial in a research note on Friday. They issued a “neutral” rating on the stock. Goldman Sachs Group Inc. raised Prudential Financial from a “neutral” rating to a “buy” rating and raised their target price for the stock from $80.00 to $93.00 in a research note on Friday, September 23rd. Finally, Bank of America Corp. cut Prudential Financial from a “neutral” rating to an “underperform” rating in a research note on Wednesday, June 29th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $89.33.
A number of institutional investors have recently modified their holdings of PRU. Americafirst Capital Management LLC bought a new position in shares of Prudential Financial during the second quarter worth approximately $100,000. Bessemer Group Inc. increased its position in shares of Prudential Financial by 6.7% in the second quarter. Bessemer Group Inc. now owns 1,516 shares of the company’s stock worth $108,000 after buying an additional 95 shares in the last quarter. Gierl Augustine Investment Management Inc increased its position in shares of Prudential Financial by 14.4% in the second quarter. Gierl Augustine Investment Management Inc now owns 1,632 shares of the company’s stock worth $116,000 after buying an additional 206 shares in the last quarter. Cantab Capital Partners LLP bought a new position in shares of Prudential Financial during the second quarter worth approximately $132,000. Finally, Seven Eight Capital LLC increased its position in shares of Prudential Financial by 757.0% in the first quarter. Seven Eight Capital LLC now owns 2,151 shares of the company’s stock worth $155,000 after buying an additional 1,900 shares in the last quarter. Institutional investors and hedge funds own 60.62% of the company’s stock.
Prudential Financial Company Profile
Prudential Financial, Inc is a financial services company. The Company, through its subsidiaries and affiliates, provides a range of financial products and services, including life insurance, annuities and investment management. The Company’s divisions include U.S. Retirement Solutions and Investment Management Division; U.S.
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