Investors Buy Prudential Financial Inc. (PRU) on Weakness Following Insider Selling
Investors bought shares of Prudential Financial Inc. (NYSE:PRU) on weakness during trading on Tuesday following insider selling activity. $33.42 million flowed into the stock on the tick-up and $22.53 million flowed out of the stock on the tick-down, for a money net flow of $10.89 million into the stock. Of all companies tracked, Prudential Financial had the 25th highest net in-flow for the day. Prudential Financial traded down ($0.14) for the day and closed at $84.37Specifically, CFO Robert Falzon sold 33,820 shares of the company’s stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $77.13, for a total value of $2,608,536.60. Following the transaction, the chief financial officer now directly owns 70,264 shares of the company’s stock, valued at approximately $5,419,462.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Sharon C. Taylor sold 85,490 shares of the company’s stock in a transaction that occurred on Monday, October 10th. The shares were sold at an average price of $84.99, for a total value of $7,265,795.10. Following the completion of the transaction, the senior vice president now directly owns 77,221 shares in the company, valued at $6,563,012.79. The disclosure for this sale can be found here. 1.20% of the stock is owned by corporate insiders.
Several equities analysts recently issued reports on the company. Credit Suisse Group AG assumed coverage on Prudential Financial in a research report on Friday, October 7th. They issued a “neutral” rating and a $89.00 price objective on the stock. FBR & Co cut Prudential Financial from an “outperform” rating to a “market perform” rating and set a $86.00 price objective on the stock. in a research report on Tuesday. They noted that the move was a valuation call. Wells Fargo & Co. assumed coverage on Prudential Financial in a research report on Friday, September 23rd. They issued a “market perform” rating on the stock. Goldman Sachs Group Inc. raised Prudential Financial from a “neutral” rating to a “buy” rating and upped their price objective for the company from $80.00 to $93.00 in a research report on Friday, September 23rd. Finally, Zacks Investment Research cut Prudential Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, June 21st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $89.13.
The stock has a 50-day moving average price of $81.25 and a 200 day moving average price of $76.81. The firm has a market capitalization of $36.87 billion, a P/E ratio of 8.67 and a beta of 1.68.
Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $1.84 EPS for the quarter, missing the 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 quarter in the prior year, the business posted $2.91 EPS. On average, equities analysts expect that Prudential Financial Inc. will post ($0.01) EPS for the current year.
Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Prudential Financial by 0.9% in the second quarter. Vanguard Group Inc. now owns 28,609,632 shares of the company’s stock valued at $2,041,011,000 after buying an additional 242,859 shares in the last quarter. Cohen & Steers Inc. purchased a new position in Prudential Financial during the second quarter valued at approximately $718,824,000. Massachusetts Financial Services Co. MA raised its position in Prudential Financial by 1.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 9,590,228 shares of the company’s stock valued at $684,166,000 after buying an additional 90,284 shares in the last quarter. BlackRock Group LTD raised its position in Prudential Financial by 1.7% in the second quarter. BlackRock Group LTD now owns 5,411,410 shares of the company’s stock valued at $386,051,000 after buying an additional 92,365 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its position in Prudential Financial by 0.8% in the second quarter. Ameriprise Financial Inc. now owns 5,115,560 shares of the company’s stock valued at $364,944,000 after buying an additional 39,095 shares in the last quarter. Institutional investors and hedge funds own 60.58% of the company’s stock.
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.
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