Prudential Financial Inc. (PRU) Insider Charles F. Lowrey Sells 50,322 Shares of Stock
Prudential Financial Inc. (NYSE:PRU) insider Charles F. Lowrey sold 50,322 shares of the firm’s stock in a transaction dated Wednesday, October 5th. The stock was sold at an average price of $85.00, for a total value of $4,277,370.00. Following the transaction, the insider now owns 92,458 shares of the company’s stock, valued at $7,858,930. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of Prudential Financial Inc. (NYSE:PRU) opened at 84.53 on Friday. The company has a market capitalization of $36.94 billion, a price-to-earnings ratio of 8.68 and a beta of 1.68. Prudential Financial Inc. has a one year low of $57.19 and a one year high of $88.77. The company’s 50-day moving average price is $79.77 and its 200-day moving average price is $76.18.
Prudential Financial (NYSE:PRU) last announced its earnings results on Wednesday, August 3rd. The company reported $1.84 EPS for the quarter, missing the Zacks’ 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 prior year, the firm earned $2.91 earnings per share. On average, equities research analysts predict that Prudential Financial Inc. will post ($0.01) earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Tuesday, August 23rd were issued a $0.70 dividend. The ex-dividend date was Friday, August 19th. This represents a $2.80 dividend on an annualized basis and a yield of 3.31%. Prudential Financial’s dividend payout ratio is currently 28.78%.
A number of institutional investors have recently made changes to their positions in PRU. Cohen & Steers Inc. bought a new position in shares of Prudential Financial during the second quarter worth approximately $718,824,000. Hexavest Inc. bought a new position in shares of Prudential Financial during the second quarter worth approximately $54,008,000. Bank of Montreal Can bought a new position in shares of Prudential Financial during the second quarter worth approximately $39,301,000. Panagora Asset Management Inc. boosted its position in shares of Prudential Financial by 1,637.1% in the first quarter. Panagora Asset Management Inc. now owns 581,941 shares of the company’s stock worth $42,028,000 after buying an additional 548,441 shares in the last quarter. Finally, Emerald Acquisition Ltd. bought a new position in shares of Prudential Financial during the second quarter worth approximately $38,908,000. 60.62% of the stock is currently owned by institutional investors.
PRU has been the subject of a number of analyst reports. 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 cut Prudential Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, June 21st. Credit Suisse Group AG started coverage on Prudential Financial in a research note on Friday. They set a “neutral” rating for the company. Goldman Sachs Group Inc. raised Prudential Financial from a “neutral” rating to a “buy” rating and raised their target price for the stock from $80.00 to $93.00 in a research note on Friday, September 23rd. Finally, Bank of America Corp. cut Prudential Financial from a “neutral” rating to an “underperform” rating in a research note on Wednesday, June 29th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $89.33.
About Prudential Financial
Prudential Financial, Inc is a financial services company. The Company, through its subsidiaries and affiliates, provides a range of financial products and services, including life insurance, annuities and investment management. The Company’s divisions include U.S. Retirement Solutions and Investment Management Division; U.S.
Receive News & Ratings for Prudential Financial Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prudential Financial Inc. and related companies with MarketBeat.com's FREE daily email newsletter.