Prudential Financial (NYSE:PRU) SVP Sells $338,744.56 in Stock

Prudential Financial, Inc. (NYSE:PRU) SVP Robert Boyle sold 2,794 shares of the firm’s stock in a transaction that occurred on Friday, November 6th. The shares were sold at an average price of $121.24, for a total transaction of $338,744.56. Following the completion of the sale, the senior vice president owned 6,008 shares in the company, valued at approximately $728,409.92. The trade was a 31.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Prudential Financial Trading Down 0.5%

Shares of Prudential Financial stock opened at $122.42 on Friday. The firm’s 50 day moving average is $117.31 and its 200 day moving average is $109.25. The firm has a market capitalization of $41.99 billion, a PE ratio of 8.34, a price-to-earnings-growth ratio of 1.94 and a beta of 0.85. Prudential Financial, Inc. has a 1 year low of $91.89 and a 1 year high of $128.78. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.66.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Tuesday, November 3rd. The financial services provider reported $3.77 EPS for the quarter, beating the consensus estimate of $3.33 by $0.44. Prudential Financial had a net margin of 6.75% and a return on equity of 16.38%. The business had revenue of $14.45 billion during the quarter, compared to the consensus estimate of $14.66 billion. During the same quarter in the prior year, the firm earned $4.26 EPS. Equities research analysts forecast that Prudential Financial, Inc. will post 13.60 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Tuesday, November 24th will be issued a dividend of $1.40 per share. The ex-dividend date is Tuesday, November 24th. This represents a $5.60 annualized dividend and a dividend yield of 4.6%. Prudential Financial’s dividend payout ratio is 50.96%.

Analysts Set New Price Targets

PRU has been the subject of a number of research reports. BMO Capital Markets increased their price target on Prudential Financial from $90.00 to $120.00 and gave the company an “underperform” rating in a research note on Friday, August 21st. Keefe, Bruyette & Woods reduced their price objective on Prudential Financial from $123.00 to $119.00 and set a “market perform” rating on the stock in a research report on Friday, October 16th. Mizuho upped their target price on Prudential Financial from $116.00 to $120.00 and gave the stock a “neutral” rating in a report on Thursday. TD Cowen dropped their target price on Prudential Financial from $114.00 to $112.00 and set a “hold” rating for the company in a research report on Wednesday, October 21st. Finally, Wall Street Zen lowered Prudential Financial from a “buy” rating to a “hold” rating in a research note on Monday, September 28th. Two analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and six have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $115.67.

Institutional Investors Weigh In On Prudential Financial

A number of institutional investors have recently added to or reduced their stakes in PRU. Plimoth Trust Co. LLC grew its stake in shares of Prudential Financial by 2.4% in the second quarter. Plimoth Trust Co. LLC now owns 3,860 shares of the financial services provider’s stock worth $417,000 after purchasing an additional 90 shares during the last quarter. Security National Bank of SO Dak increased its holdings in Prudential Financial by 0.6% in the second quarter. Security National Bank of SO Dak now owns 14,676 shares of the financial services provider’s stock valued at $1,584,000 after purchasing an additional 90 shares during the period. XXI Wealth LLC raised its position in Prudential Financial by 5.0% during the 3rd quarter. XXI Wealth LLC now owns 1,967 shares of the financial services provider’s stock worth $223,000 after purchasing an additional 93 shares during the last quarter. Prosperitas Financial LLC raised its position in Prudential Financial by 4.6% during the 3rd quarter. Prosperitas Financial LLC now owns 2,186 shares of the financial services provider’s stock worth $248,000 after purchasing an additional 96 shares during the last quarter. Finally, Focused Wealth Management Inc lifted its holdings in Prudential Financial by 4.3% during the 3rd quarter. Focused Wealth Management Inc now owns 2,360 shares of the financial services provider’s stock worth $268,000 after buying an additional 98 shares during the period. 56.83% of the stock is owned by institutional investors.

Key Prudential Financial News

These are some of the PRU news items that stood out recently:

• Positive Sentiment: Prudential Wealth Advisors reported record third-quarter sales, about $80 billion in client assets, and 20% revenue growth over two years. The business also says it is attracting experienced advisers and serves nearly 4.3 million clients, signaling momentum in a growth area for PRU. Prudential Wealth Advisors announcement
• Positive Sentiment: Prudential declared its quarterly dividend of $1.40 per share, equivalent to $5.60 annually and a yield of roughly 4.6%. The payout may appeal to income-focused investors; no increase was reported. Dividend announcement
• Negative Sentiment: EVP Ann Kappler sold 2,797 shares, worth about $337,000, reducing her stake by 16.2%. Insider sales can weigh on sentiment, though the filing does not state her reason for selling. Insider transaction report

About Prudential Financial

Prudential Financial, Inc. is a financial services company headquartered in Newark, New Jersey. Founded in 1875 as the Prudential Friendly Society, it has grown into a provider of insurance, retirement and investment services. The company offers life insurance, annuities, workplace benefits and retirement-related products and services. Through its asset management businesses, Prudential also serves individual and institutional investors. Prudential serves customers in the United States and operates internationally, with a significant presence in Japan and other markets.