Prudential Financial (NYSE:PRU) CEO Sells $429,958.08 in Stock

Prudential Financial, Inc. (NYSE:PRU) CEO Andrew Sullivan sold 3,544 shares of Prudential Financial stock in a transaction dated Friday, November 6th. The shares were sold at an average price of $121.32, for a total transaction of $429,958.08. Following the completion of the transaction, the chief executive officer directly owned 50,317 shares of the company’s stock, valued at approximately $6,104,458.44. This trade represents a 6.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Prudential Financial Stock Down 0.5%

Prudential Financial stock opened at $122.42 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.17 and a quick ratio of 0.17. The company’s 50-day moving average is $117.31 and its 200-day moving average is $109.25. The firm has a market capitalization of $41.99 billion, a PE ratio of 8.34, a P/E/G ratio of 1.94 and a beta of 0.85. Prudential Financial, Inc. has a fifty-two week low of $91.89 and a fifty-two week high of $128.78.

Prudential Financial (NYSE:PRU) last issued its earnings results on Tuesday, November 3rd. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.33 by $0.44. Prudential Financial had a net margin of 6.75% and a return on equity of 16.38%. The business had revenue of $14.45 billion during the quarter, compared to the consensus estimate of $14.66 billion. During the same period last year, the business posted $4.26 EPS. Sell-side analysts anticipate that Prudential Financial, Inc. will post 13.60 earnings per share for the current year.

Prudential Financial Announces Dividend

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

Key Stories Impacting Prudential Financial

Here are a few of the latest stories about PRU:

• Positive Sentiment: Prudential Wealth Advisors reported record third-quarter sales, about $80 billion in client assets, and 20% revenue growth over two years. The business also says it is attracting experienced advisers and serves nearly 4.3 million clients, signaling momentum in a growth area for PRU. Prudential Wealth Advisors announcement
• 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
• 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

Hedge Funds Weigh In On Prudential Financial

Hedge funds have recently bought and sold shares of the business. Archer Investment Corp acquired a new position in shares of Prudential Financial during the 2nd quarter worth approximately $26,000. Meeder Asset Management Inc. increased its holdings in shares of Prudential Financial by 164.7% during the third quarter. Meeder Asset Management Inc. now owns 225 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 140 shares during the period. Team Financial Group LLC bought a new position in shares of Prudential Financial during the third quarter worth approximately $27,000. Heritage Family Offices LLP acquired a new stake in shares of Prudential Financial in the third quarter valued at approximately $33,000. Finally, MADDEN SECURITIES Corp acquired a new stake in shares of Prudential Financial in the third quarter valued at approximately $38,000. 56.83% of the stock is owned by institutional investors.

Analyst Ratings Changes

PRU has been the subject of several research analyst reports. JPMorgan Chase & Co. reduced their target price 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. Zacks Research cut Prudential Financial from a “hold” rating to a “strong sell” rating in a research note on Friday, October 23rd. Mizuho increased their price target on Prudential Financial from $116.00 to $120.00 and gave the company a “neutral” rating in a research note on Thursday. UBS Group raised their price target on Prudential Financial from $92.00 to $125.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, Morgan Stanley reduced their price objective on shares of Prudential Financial from $105.00 to $100.00 and set an “underweight” rating for the company in a research report on Monday, October 19th. Two equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and six have given a Sell rating to the stock. According to MarketBeat.com, Prudential Financial has a consensus rating of “Reduce” and a consensus price target of $115.67.

Prudential Financial Company Profile

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.