Prudential Financial (NYSE:PRU) Shares Down 3.7% – Should You Sell?

Shares of Prudential Financial, Inc. (NYSE:PRU) were down 3.7% on Tuesday . The stock traded as low as $118.32 and last traded at $118.1130. 313,936 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 2,110,758 shares. The stock had previously closed at $122.67.

Analyst Ratings Changes

Several brokerages recently commented on PRU. TD Cowen upped their target price on Prudential Financial from $102.00 to $114.00 and gave the company a “hold” rating in a report on Wednesday, July 22nd. JPMorgan Chase & Co. boosted their price target on shares of Prudential Financial from $129.00 to $131.00 and gave the stock a “neutral” rating in a research report on Monday, August 17th. Weiss Ratings raised shares of Prudential Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, July 16th. Morgan Stanley increased their price objective on shares of Prudential Financial from $92.00 to $105.00 and gave the stock an “underweight” rating in a research report on Monday. Finally, Argus lowered shares of Prudential Financial from a “buy” rating to a “hold” rating in a report on Tuesday, June 9th. One analyst has rated the stock with a Buy rating, eleven have given a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $109.31.

Prudential Financial Trading Up 0.2%

The firm has a market cap of $41.52 billion, a price-to-earnings ratio of 10.90, a P/E/G ratio of 2.26 and a beta of 0.84. The firm’s 50-day moving average is $117.42 and its 200-day moving average is $106.05. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.62.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $4.08 EPS for the quarter, topping analysts’ consensus estimates of $3.52 by $0.56. Prudential Financial had a return on equity of 16.68% and a net margin of 6.51%.The firm had revenue of $14.15 billion during the quarter, compared to analyst estimates of $14.36 billion. During the same period in the previous year, the company posted $3.58 EPS. As a group, sell-side analysts anticipate that Prudential Financial, Inc. will post 14.3 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Tuesday, August 25th will be issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date is Tuesday, August 25th. Prudential Financial’s dividend payout ratio (DPR) is 50.72%.

Insider Buying and Selling

In other news, major shareholder Insurance Co Of Ame Prudential sold 214,746 shares of the stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $24.75, for a total transaction of $5,314,963.50. Following the completion of the transaction, the insider directly owned 7,973,657 shares of the company’s stock, valued at $197,348,010.75. This represents a 2.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ann M. Kappler sold 7,652 shares of Prudential Financial stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $125.01, for a total transaction of $956,576.52. Following the completion of the sale, the executive vice president directly owned 14,407 shares in the company, valued at $1,801,019.07. This trade represents a 34.69% decrease in their position. The SEC filing for this sale provides additional information. 0.05% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Prudential Financial

A number of institutional investors and hedge funds have recently modified their holdings of PRU. Jessup Wealth Management Inc purchased a new position in Prudential Financial in the fourth quarter worth $25,000. Archer Investment Corp bought a new position in Prudential Financial during the second quarter valued at approximately $26,000. Garton & Associates Financial Advisors LLC bought a new stake in shares of Prudential Financial in the 4th quarter worth approximately $26,000. SJS Investment Consulting Inc. raised its position in Prudential Financial by 93.1% in the 1st quarter. SJS Investment Consulting Inc. now owns 278 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 134 shares during the period. Finally, Coston McIsaac & Partners lifted its stake in Prudential Financial by 93.4% in the fourth quarter. Coston McIsaac & Partners now owns 265 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 128 shares during the last quarter. 56.83% of the stock is owned by hedge funds and other institutional investors.

Prudential Financial Company Profile

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential’s long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential’s core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.