Prudential Financial, Inc. (NYSE:PRU) SVP Timothy L. Schmidt Sells 5,189 Shares

Prudential Financial, Inc. (NYSE:PRU) SVP Timothy L. Schmidt sold 5,189 shares of the stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $116.58, for a total value of $604,933.62. Following the transaction, the senior vice president now directly owns 12,236 shares in the company, valued at approximately $1,426,472.88. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Prudential Financial Stock Up 1.1 %

Shares of NYSE PRU opened at $117.95 on Friday. The firm has a market cap of $42.34 billion, a price-to-earnings ratio of 20.06, a PEG ratio of 0.83 and a beta of 1.35. Prudential Financial, Inc. has a 1 year low of $77.87 and a 1 year high of $118.69. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.13 and a current ratio of 0.13. The stock’s 50-day simple moving average is $112.65 and its 200-day simple moving average is $104.87.

Prudential Financial (NYSE:PRU) last released its earnings results on Tuesday, April 30th. The financial services provider reported $3.12 EPS for the quarter, missing the consensus estimate of $3.16 by ($0.04). The business had revenue of $15.01 billion for the quarter, compared to analysts’ expectations of $14.50 billion. Prudential Financial had a net margin of 3.76% and a return on equity of 15.50%. The business’s quarterly revenue was up 69.9% compared to the same quarter last year. During the same quarter last year, the company posted $2.66 earnings per share. As a group, equities analysts anticipate that Prudential Financial, Inc. will post 13.36 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Tuesday, May 21st will be paid a $1.30 dividend. The ex-dividend date is Monday, May 20th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.41%. Prudential Financial’s dividend payout ratio (DPR) is presently 88.44%.

Hedge Funds Weigh In On Prudential Financial

A number of hedge funds have recently bought and sold shares of PRU. Vanguard Group Inc. raised its position in shares of Prudential Financial by 13.9% during the 4th quarter. Vanguard Group Inc. now owns 42,292,853 shares of the financial services provider’s stock valued at $4,386,192,000 after acquiring an additional 5,154,865 shares in the last quarter. International Assets Investment Management LLC raised its stake in Prudential Financial by 9,281.4% during the fourth quarter. International Assets Investment Management LLC now owns 1,368,839 shares of the financial services provider’s stock worth $141,962,000 after acquiring an additional 1,354,248 shares during the period. Norges Bank bought a new position in Prudential Financial in the fourth quarter worth about $113,478,000. Dimensional Fund Advisors LP grew its holdings in shares of Prudential Financial by 10.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,000,665 shares of the financial services provider’s stock valued at $414,926,000 after purchasing an additional 388,363 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. acquired a new stake in shares of Prudential Financial during the 3rd quarter worth approximately $34,251,000. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on PRU shares. Morgan Stanley increased their price objective on shares of Prudential Financial from $109.00 to $117.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Piper Sandler decreased their price target on shares of Prudential Financial from $125.00 to $121.00 and set a “neutral” rating on the stock in a report on Monday. TheStreet upgraded Prudential Financial from a “c+” rating to an “a-” rating in a report on Tuesday, February 6th. Raymond James downgraded Prudential Financial from a “strong-buy” rating to a “market perform” rating in a report on Friday, February 9th. Finally, Keefe, Bruyette & Woods boosted their target price on Prudential Financial from $112.00 to $118.00 and gave the stock a “market perform” rating in a report on Wednesday, April 10th. Two investment analysts have rated the stock with a sell rating and eleven have issued a hold rating to the stock. Based on data from MarketBeat, Prudential Financial presently has an average rating of “Hold” and an average price target of $111.08.

Prudential Financial Company Profile

Prudential Financial, Inc, together with its subsidiaries, provides insurance, investment management, and other financial products and services in the United States and internationally. It operates through PGIM, Retirement Strategies, Group Insurance, Individual Life, and International Businesses segments.