Timothy P. Harris Sells 6,531 Shares of Prudential Financial Inc. (PRU) Stock
Prudential Financial Inc. (NYSE:PRU) EVP Timothy P. Harris sold 6,531 shares of the stock in a transaction dated Wednesday, October 5th. The shares were sold at an average price of $85.00, for a total value of $555,135.00. Following the completion of the transaction, the executive vice president now owns 20,924 shares of the company’s stock, valued at $1,778,540. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Prudential Financial Inc. (NYSE:PRU) opened at 84.53 on Friday. Prudential Financial Inc. has a 12-month low of $57.19 and a 12-month high of $88.77. The company has a market cap of $36.94 billion, a price-to-earnings ratio of 8.68 and a beta of 1.68. The stock has a 50 day moving average price of $79.77 and a 200-day moving average price of $76.18.
Prudential Financial (NYSE:PRU) last released its earnings results on Wednesday, August 3rd. The company reported $1.84 earnings per share 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 period in the prior year, the business posted $2.91 earnings per share. On average, analysts predict that Prudential Financial Inc. will post ($0.01) EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Tuesday, August 23rd were paid 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 dividend payout ratio (DPR) is presently 28.78%.
Several large investors have recently added to or reduced their stakes in PRU. Foundry Partners LLC raised its stake in Prudential Financial by 9.3% in the third quarter. Foundry Partners LLC now owns 102,000 shares of the company’s stock worth $8,328,000 after buying an additional 8,715 shares during the period. First American Trust FSB raised its stake in Prudential Financial by 42.6% in the third quarter. First American Trust FSB now owns 32,637 shares of the company’s stock worth $2,665,000 after buying an additional 9,753 shares during the period. Beacon Financial Group raised its stake in Prudential Financial by 7.7% in the third quarter. Beacon Financial Group now owns 9,831 shares of the company’s stock worth $786,000 after buying an additional 700 shares during the period. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in Prudential Financial during the second quarter worth $1,273,000. Finally, Kentucky Retirement Systems bought a new stake in Prudential Financial during the second quarter worth $2,681,000. 60.62% of the stock is owned by institutional investors.
Several equities research analysts have recently weighed in on PRU shares. Goldman Sachs Group Inc. raised Prudential Financial from a “neutral” rating to a “buy” rating and increased their price target for the company from $80.00 to $93.00 in a research note on Friday, September 23rd. Zacks Investment Research cut Prudential Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, June 21st. Wells Fargo & Co. started coverage on Prudential Financial in a research note on Friday, September 23rd. They issued a “market perform” rating for the company. Citigroup Inc. decreased their price target on Prudential Financial from $83.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, July 7th. Finally, Evercore ISI started coverage on Prudential Financial in a research note on Wednesday, July 6th. They issued a “hold” rating and a $78.00 price target for the company. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Prudential Financial presently has a consensus rating of “Buy” and an average price target of $89.33.
Prudential Financial Company Profile
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.
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