Prudential Financial Inc. (NYSE:PRU) SVP Sharon C. Taylor sold 85,490 shares of the company’s stock in a transaction that occurred on Monday, October 10th. The stock was sold at an average price of $84.99, for a total value of $7,265,795.10. Following the transaction, the senior vice president now directly owns 77,221 shares of the company’s stock, valued at approximately $6,563,012.79. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Shares of Prudential Financial Inc. (NYSE:PRU) opened at 84.49 on Thursday. The firm’s 50-day moving average price is $80.48 and its 200 day moving average price is $76.44. Prudential Financial Inc. has a one year low of $57.19 and a one year high of $88.77. The firm has a market cap of $36.92 billion, a P/E ratio of 8.68 and a beta of 1.68.
Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $1.84 earnings per share for the quarter, missing the Thomson Reuters’ 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 period in the previous year, the firm posted $2.91 earnings per share. Analysts predict that Prudential Financial Inc. will post ($0.01) EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Tuesday, August 23rd were given a $0.70 dividend. The ex-dividend date of this dividend was Friday, August 19th. This represents a $2.80 annualized dividend and a yield of 3.31%. Prudential Financial’s dividend payout ratio is currently 28.78%.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Americafirst Capital Management LLC acquired a new position in Prudential Financial during the second quarter valued at $100,000. Bessemer Group Inc. boosted its position in Prudential Financial by 6.7% in the second quarter. Bessemer Group Inc. now owns 1,516 shares of the company’s stock valued at $108,000 after buying an additional 95 shares in the last quarter. Gierl Augustine Investment Management Inc boosted its position in Prudential Financial by 14.4% in the second quarter. Gierl Augustine Investment Management Inc now owns 1,632 shares of the company’s stock valued at $116,000 after buying an additional 206 shares in the last quarter. Cantab Capital Partners LLP acquired a new position in Prudential Financial during the second quarter valued at $132,000. Finally, Seven Eight Capital LLC boosted its position in Prudential Financial by 757.0% in the first quarter. Seven Eight Capital LLC now owns 2,151 shares of the company’s stock valued at $155,000 after buying an additional 1,900 shares in the last quarter. 60.62% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have weighed in on PRU shares. Wells Fargo & Co. started coverage on Prudential Financial in a research report on Friday, September 23rd. They set a “market perform” rating for the company. Zacks Investment Research downgraded Prudential Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, June 21st. Credit Suisse Group AG started coverage on Prudential Financial in a research report on Friday, October 7th. They set a “neutral” rating and a $89.00 price target for the company. Goldman Sachs Group Inc. raised Prudential Financial from a “neutral” rating to a “buy” rating and upped their price target for the stock from $80.00 to $93.00 in a research report on Friday, September 23rd. Finally, Bank of America Corp. downgraded Prudential Financial from a “neutral” rating to an “underperform” rating in a research report on Wednesday, June 29th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $89.13.
Prudential Financial Company Profile