Prudential Financial (NYSE:PRU) EVP Ann Kappler Sells 2,797 Shares of Stock

Prudential Financial, Inc. (NYSE:PRU) EVP Ann Kappler sold 2,797 shares of the stock in a transaction that occurred on Friday, November 6th. The shares were sold at an average price of $120.60, for a total transaction of $337,318.20. Following the sale, the executive vice president directly 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Prudential Financial Stock Up 1.1%

PRU traded up $1.33 during trading on Tuesday, hitting $123.38. The stock had a trading volume of 1,555,308 shares, compared to its average volume of 2,018,990. The stock has a 50 day simple moving average of $117.03 and a two-hundred day simple moving average of $109.03. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.16 and a current ratio of 0.17. Prudential Financial, Inc. has a twelve month low of $91.89 and a twelve month high of $128.78. The company has a market capitalization of $42.56 billion, a PE ratio of 11.23, a PEG ratio of 2.12 and a beta of 0.85.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Tuesday, November 3rd. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.33 by $0.44. Prudential Financial had a return on equity of 16.38% and a net margin of 6.75%. The business had revenue of $14.45 billion for the quarter, compared to the consensus estimate of $14.66 billion. During the same period in the prior year, the firm posted $4.26 earnings per share. On average, research analysts predict that Prudential Financial, Inc. will post 13.54 earnings per share for the current year.

Institutional Investors Weigh In On Prudential Financial

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Meeder Asset Management Inc. grew 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 valued at $26,000 after buying an additional 140 shares during the last quarter. Voya Investment Management LLC increased its position in shares of Prudential Financial by 0.6% in the 3rd quarter. Voya Investment Management LLC now owns 69,976 shares of the financial services provider’s stock valued at $7,948,000 after acquiring an additional 386 shares during the period. Bogart Wealth LLC raised its stake in Prudential Financial by 4.9% in the 3rd quarter. Bogart Wealth LLC now owns 3,263 shares of the financial services provider’s stock worth $371,000 after acquiring an additional 152 shares during the last quarter. Sompo Asset Management Co. Ltd. raised its stake in Prudential Financial by 13.9% in the 3rd quarter. Sompo Asset Management Co. Ltd. now owns 10,467 shares of the financial services provider’s stock worth $1,189,000 after acquiring an additional 1,277 shares during the last quarter. Finally, Edgestream Partners L.P. acquired a new stake in Prudential Financial during the 3rd quarter worth about $423,000. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PRU has been the topic of several research analyst reports. Wall Street Zen downgraded Prudential Financial from a “buy” rating to a “hold” rating in a research note on Monday, September 28th. Keefe, Bruyette & Woods reduced their target price on Prudential Financial from $123.00 to $119.00 and set a “market perform” rating on the stock in a research report on Friday, October 16th. Mizuho set a $108.00 price target on Prudential Financial in a report on Monday, October 12th. Wells Fargo & Company lowered their price target on Prudential Financial from $104.00 to $103.00 and set an “underweight” rating for the company in a report on Wednesday, October 28th. Finally, Jefferies Financial Group dropped their price target on Prudential Financial from $116.00 to $109.00 and set a “buy” rating on the stock in a research note on Monday, October 12th. Two investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and six have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $112.40.

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.