Today: The 50,322 Shares of Prudential Financial Inc. (PRU) Stock are sold by Charles F. Lowrey

The 50,322 Shares of Prudential Financial Inc. (PRU) Stock are sold by Charles F. Lowrey

Prudential Financial Inc. (NYSE:PRU) insider Charles F. Lowrey sold 50,322 shares of the company’s stock in a transaction on Wednesday, October 5th. The shares were sold at an average price of $85.00, for a total transaction of $4,277,370.00. Following the sale, the insider now directly owns 92,458 shares in the company, valued at approximately $7,858,930. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of Prudential Financial Inc. (NYSE:PRU) opened at 84.53 on Friday. The firm has a 50-day moving average of $79.77 and a 200 day moving average of $76.18. The stock has a market cap of $36.94 billion, a price-to-earnings ratio of 8.68 and a beta of 1.68. Prudential Financial Inc. has a 1-year low of $57.19 and a 1-year high of $88.77.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $1.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.51 by $0.67. Prudential Financial had a net margin of 8.90% and a return on equity of 8.11%. During the same quarter in the previous year, the firm posted $2.91 earnings per share. Equities research analysts forecast that Prudential Financial Inc. will post ($0.01) earnings per share for the current year.

The company 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. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date of this dividend was Friday, August 19th. Prudential Financial’s payout ratio is 28.78%.

A number of brokerages have commented on PRU. Credit Suisse Group AG began coverage on shares of Prudential Financial in a research report on Friday. They set a “neutral” rating on the stock. Wells Fargo & Co. began coverage on shares of Prudential Financial in a research report on Friday, September 23rd. They set a “market perform” rating on the stock. Goldman Sachs Group Inc. raised shares of Prudential Financial from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $80.00 to $93.00 in a research report on Friday, September 23rd. Zacks Investment Research cut shares of Prudential Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, June 21st. Finally, Deutsche Bank AG cut their price objective on shares of Prudential Financial from $90.00 to $83.00 and set a “buy” rating on the stock in a research report on Thursday, July 7th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. Prudential Financial has a consensus rating of “Buy” and a consensus price target of $89.33.

Institutional investors have recently added to or reduced their stakes in the stock. Murphy Capital Management Inc. boosted its position in Prudential Financial by 0.3% in the second quarter. Murphy Capital Management Inc. now owns 3,138 shares of the company’s stock worth $223,000 after buying an additional 8 shares during the last quarter. Hudock Capital Group LLC raised its stake in shares of Prudential Financial by 0.4% in the second quarter. Hudock Capital Group LLC now owns 2,682 shares of the company’s stock worth $191,000 after buying an additional 10 shares during the last quarter. Concert Wealth Management Inc. raised its stake in shares of Prudential Financial by 0.3% in the second quarter. Concert Wealth Management Inc. now owns 12,450 shares of the company’s stock worth $879,000 after buying an additional 42 shares during the last quarter. Arrow Financial Corp raised its stake in shares of Prudential Financial by 1.4% in the second quarter. Arrow Financial Corp now owns 4,935 shares of the company’s stock worth $352,000 after buying an additional 66 shares during the last quarter. Finally, Point View Wealth Management Inc. raised its stake in shares of Prudential Financial by 1.0% in the second quarter. Point View Wealth Management Inc. now owns 6,806 shares of the company’s stock worth $486,000 after buying an additional 70 shares during the last quarter. Hedge funds and other institutional investors own 60.62% of the company’s stock.

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