Insider Buying: Prudential Financial Inc (NYSE:PRU) CEO Buys 7,500 Shares of Stock

Prudential Financial Inc (NYSE:PRU) CEO Charles F. Lowrey bought 7,500 shares of the stock in a transaction on Monday, September 9th. The shares were acquired at an average cost of $83.68 per share, for a total transaction of $627,600.00. Following the acquisition, the chief executive officer now directly owns 64,263 shares in the company, valued at $5,377,527.84. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

NYSE PRU traded up $2.51 on Tuesday, hitting $86.71. The stock had a trading volume of 2,664,128 shares, compared to its average volume of 2,092,645. The firm has a 50-day moving average of $86.21 and a 200-day moving average of $95.56. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.11 and a current ratio of 0.11. Prudential Financial Inc has a 52-week low of $75.61 and a 52-week high of $106.64. The company has a market capitalization of $33.03 billion, a price-to-earnings ratio of 7.42, a price-to-earnings-growth ratio of 0.73 and a beta of 1.56.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $3.14 EPS for the quarter, missing analysts’ consensus estimates of $3.22 by ($0.08). The firm had revenue of $14.11 billion for the quarter, compared to analysts’ expectations of $13.63 billion. Prudential Financial had a net margin of 6.92% and a return on equity of 9.24%. During the same quarter last year, the firm earned $3.01 earnings per share. As a group, research analysts anticipate that Prudential Financial Inc will post 12.43 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Tuesday, August 20th will be paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 4.61%. The ex-dividend date is Monday, August 19th. Prudential Financial’s dividend payout ratio is 34.22%.

Several research firms have issued reports on PRU. B. Riley lowered Prudential Financial from a “buy” rating to a “neutral” rating and cut their price target for the stock from $122.00 to $100.00 in a report on Thursday, August 1st. Citigroup cut Prudential Financial from a “buy” rating to a “neutral” rating and reduced their price target for the company from $112.00 to $94.00 in a research report on Monday, August 5th. Barclays set a $108.00 price objective on Prudential Financial and gave the company a “buy” rating in a research note on Monday, August 12th. Atlantic Securities cut Prudential Financial from an “overweight” rating to a “neutral” rating in a report on Thursday, August 8th. Finally, ValuEngine downgraded Prudential Financial from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, seven have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $101.25.

A number of institutional investors have recently bought and sold shares of PRU. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in shares of Prudential Financial by 6.2% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 116,882 shares of the financial services provider’s stock valued at $11,805,000 after acquiring an additional 6,783 shares during the last quarter. Rehmann Capital Advisory Group grew its holdings in shares of Prudential Financial by 4.5% during the second quarter. Rehmann Capital Advisory Group now owns 9,458 shares of the financial services provider’s stock worth $955,000 after purchasing an additional 410 shares in the last quarter. Nomura Holdings Inc. bought a new position in shares of Prudential Financial in the second quarter worth approximately $348,000. BlackRock Inc. increased its position in shares of Prudential Financial by 6.2% in the second quarter. BlackRock Inc. now owns 31,395,669 shares of the financial services provider’s stock worth $3,170,962,000 after purchasing an additional 1,840,652 shares during the last quarter. Finally, Garde Capital Inc. bought a new position in shares of Prudential Financial in the second quarter worth approximately $202,000. Institutional investors and hedge funds own 63.57% of the company’s stock.

Prudential Financial Company Profile

Prudential Financial, Inc, through its subsidiaries, provides insurance, investment management, and other financial products and services. It operates through PGIM, U.S. Workplace Solutions, U.S. Individual Solutions, and International Insurance divisions. The PGIM division offers an array of asset management and advisory services related to public and private fixed income, public equity and real estate, commercial mortgage origination and servicing, and mutual funds and other retail services to institutional, private, and sub-advisory clients, as well as to insurance company separate accounts, government sponsored entities, and the general account.

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Insider Buying and Selling by Quarter for Prudential Financial (NYSE:PRU)

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