Prudential Financial (NYSE:PRU) Major Shareholder Insurance Co Of Ame Prudential Sells 214,746 Shares of Stock

Prudential Financial, Inc. (NYSE:PRU) major shareholder Insurance Co Of Ame Prudential sold 214,746 shares of the stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $24.75, for a total value of $5,314,963.50. Following the sale, the insider owned 7,973,657 shares in the company, valued at $197,348,010.75. The trade was a 2.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Prudential Financial Stock Performance

Prudential Financial stock opened at $122.86 on Friday. The stock has a 50-day simple moving average of $110.50 and a 200 day simple moving average of $104.41. The stock has a market capitalization of $42.63 billion, a price-to-earnings ratio of 12.64, a P/E/G ratio of 2.44 and a beta of 0.85. 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.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Tuesday, May 5th. The financial services provider reported $3.61 EPS for the quarter, topping analysts’ consensus estimates of $3.09 by $0.52. Prudential Financial had a net margin of 5.83% and a return on equity of 16.33%. The firm had revenue of $15.23 billion for the quarter, compared to analyst estimates of $14.10 billion. During the same quarter in the prior year, the firm earned $3.29 EPS. On average, research analysts anticipate that Prudential Financial, Inc. will post 13.83 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Tuesday, May 26th were given a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 4.6%. The ex-dividend date was Tuesday, May 26th. Prudential Financial’s payout ratio is 57.61%.

Analysts Set New Price Targets

A number of research analysts have commented on PRU shares. Wall Street Zen upgraded Prudential Financial from a “hold” rating to a “buy” rating in a research report on Saturday, July 18th. Zacks Research upgraded Prudential Financial from a “strong sell” rating to a “hold” rating in a research report on Friday, June 12th. TD Cowen upped their price target on Prudential Financial from $102.00 to $114.00 and gave the company a “hold” rating in a research note on Wednesday, July 22nd. Wells Fargo & Company lifted their price objective on Prudential Financial from $100.00 to $103.00 and gave the stock an “underweight” rating in a research report on Thursday, July 9th. Finally, Keefe, Bruyette & Woods boosted their price objective on Prudential Financial from $106.00 to $113.00 and gave the stock a “market perform” rating in a 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 given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $105.46.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Jessup Wealth Management Inc bought a new stake in Prudential Financial in the fourth quarter valued at about $25,000. Garton & Associates Financial Advisors LLC bought a new position in Prudential Financial during the fourth quarter worth about $26,000. Salomon & Ludwin LLC boosted its holdings in Prudential Financial by 98.3% during the fourth quarter. Salomon & Ludwin LLC now owns 230 shares of the financial services provider’s stock worth $27,000 after buying an additional 114 shares during the last quarter. SJS Investment Consulting Inc. grew its position in shares of Prudential Financial by 93.1% during the 1st quarter. SJS Investment Consulting Inc. now owns 278 shares of the financial services provider’s stock worth $27,000 after buying an additional 134 shares during the period. Finally, Lodestone Wealth Management LLC bought a new stake in shares of Prudential Financial in the 4th quarter valued at about $28,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

Prudential Financial Company Profile

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.