Prudential Financial (NYSE:PRU) EVP Sells $337,318.20 in Stock

Prudential Financial, Inc. (NYSE:PRU) EVP Ann Kappler sold 2,797 shares of the stock in a transaction on Friday, November 6th. The stock was sold at an average price of $120.60, for a total value of $337,318.20. Following the transaction, the executive vice president owned 14,482 shares of the company’s stock, valued at $1,746,529.20. The trade was a 16.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Prudential Financial Trading Down 0.5%

Shares of PRU opened at $122.42 on Friday. The business has a 50-day moving average of $117.31 and a 200 day moving average of $109.25. Prudential Financial, Inc. has a fifty-two week low of $91.89 and a fifty-two week high of $128.78. The firm has a market cap of $41.99 billion, a P/E ratio of 8.34, a price-to-earnings-growth ratio of 1.94 and a beta of 0.85. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.17 and a current ratio of 0.17.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Tuesday, November 3rd. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.33 by $0.44. The business 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 business posted $4.26 EPS. As a group, research analysts forecast that Prudential Financial, Inc. will post 13.60 EPS for the current year.

Prudential Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Tuesday, November 24th will be given a $1.40 dividend. The ex-dividend date of this dividend is Tuesday, November 24th. This represents a $5.60 annualized dividend and a dividend yield of 4.6%. Prudential Financial’s payout ratio is 50.96%.

Trending Headlines about Prudential Financial

These are some of the PRU headlines that stood out recently:

• Positive Sentiment: Prudential declared its quarterly dividend of $1.40 per share, equivalent to $5.60 annually and a yield of roughly 4.6%. The payout may appeal to income-focused investors; no increase was reported. Dividend announcement
• Neutral Sentiment: Wells Fargo raised its price target to $113 but maintained an underweight rating; Mizuho raised its target to $120 and kept a neutral rating. UBS also moved its target to $125 with a neutral rating. The higher targets are a modest improvement, but the ratings and targets signal limited near-term conviction. Wells Fargo analyst update
• Negative Sentiment: EVP Ann Kappler sold 2,797 shares, worth about $337,000, reducing her stake by 16.2%. Insider sales can weigh on sentiment, though the filing does not state her reason for selling. Insider transaction report

Institutional Investors Weigh In On Prudential Financial

A number of institutional investors and hedge funds have recently modified their holdings of PRU. Meeder Asset Management Inc. grew its stake in Prudential Financial by 164.7% during the third quarter. Meeder Asset Management Inc. now owns 225 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 140 shares in the last quarter. Team Financial Group LLC bought a new stake in Prudential Financial during the 3rd quarter worth approximately $27,000. Archer Investment Corp purchased a new stake in Prudential Financial in the 2nd quarter worth approximately $26,000. Heritage Family Offices LLP purchased a new stake in Prudential Financial in the 3rd quarter worth approximately $33,000. Finally, MADDEN SECURITIES Corp bought a new position in Prudential Financial in the 3rd quarter valued at $38,000. 56.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently commented on PRU. Zacks Research downgraded shares of Prudential Financial from a “hold” rating to a “strong sell” rating in a report on Friday, October 23rd. Evercore lowered their target price on shares of Prudential Financial from $110.00 to $106.00 in a report on Friday, October 9th. Wells Fargo & Company increased their target price on Prudential Financial from $103.00 to $113.00 and gave the stock an “underweight” rating in a research report on Thursday. UBS Group raised their price target on Prudential Financial from $92.00 to $125.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Bank of America reiterated a “neutral” rating on shares of Prudential Financial in a research report on Wednesday, November 4th. Two research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and six have issued a Sell rating to the stock. According to MarketBeat.com, Prudential Financial currently has a consensus rating of “Reduce” and a consensus target price of $115.67.

About Prudential Financial

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.