Insider Selling: Prudential Financial Inc (NYSE:PRU) EVP Sells 39,748 Shares of Stock

Prudential Financial Inc (NYSE:PRU) EVP Robert Falzon sold 39,748 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $96.44, for a total transaction of $3,833,297.12. Following the completion of the transaction, the executive vice president now owns 85,396 shares of the company’s stock, valued at $8,235,590.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

PRU traded down $0.38 during mid-day trading on Thursday, reaching $95.57. 1,439,182 shares of the company traded hands, compared to its average volume of 1,910,114. The stock has a market capitalization of $38.15 billion, a P/E ratio of 9.43, a P/E/G ratio of 0.85 and a beta of 1.53. The company has a quick ratio of 0.11, a current ratio of 0.10 and a debt-to-equity ratio of 0.29. The company’s fifty day moving average price is $94.12 and its 200-day moving average price is $90.61. Prudential Financial Inc has a 52-week low of $77.65 and a 52-week high of $106.39.

Prudential Financial (NYSE:PRU) last announced its earnings results on Tuesday, February 4th. The financial services provider reported $2.33 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.31. The business had revenue of $17.45 billion during the quarter, compared to analyst estimates of $14.23 billion. Prudential Financial had a net margin of 7.20% and a return on equity of 7.81%. During the same period in the previous year, the business earned $2.44 EPS. As a group, sell-side analysts forecast that Prudential Financial Inc will post 12.33 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Shareholders of record on Tuesday, February 18th will be paid a dividend of $1.10 per share. The ex-dividend date is Friday, February 14th. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.00. This represents a $4.40 dividend on an annualized basis and a yield of 4.60%. Prudential Financial’s payout ratio is currently 34.22%.

A number of equities analysts recently weighed in on PRU shares. DOWLING & PARTN restated a “buy” rating on shares of Prudential Financial in a report on Monday, November 18th. Citigroup lowered shares of Prudential Financial from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $88.00 to $86.00 in a report on Monday, November 25th. Wells Fargo & Co lowered shares of Prudential Financial from an “outperform” rating to a “market perform” rating and set a $92.00 price objective for the company. in a report on Tuesday, November 5th. Royal Bank of Canada restated a “buy” rating and issued a $110.00 price objective on shares of Prudential Financial in a report on Sunday, December 22nd. Finally, Keefe, Bruyette & Woods lowered shares of Prudential Financial from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $107.00 to $102.00 in a report on Wednesday, November 6th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $97.33.

A number of institutional investors and hedge funds have recently made changes to their positions in PRU. BlackRock Inc. raised its position in Prudential Financial by 6.2% in the 2nd 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 period. Cerebellum GP LLC purchased a new stake in Prudential Financial in the 3rd quarter worth about $127,000. Bogart Wealth LLC raised its position in Prudential Financial by 428.1% in the 3rd quarter. Bogart Wealth LLC now owns 470 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 381 shares during the period. Valeo Financial Advisors LLC raised its position in Prudential Financial by 55.2% in the 3rd quarter. Valeo Financial Advisors LLC now owns 2,001 shares of the financial services provider’s stock worth $180,000 after purchasing an additional 712 shares during the period. Finally, Fox Run Management L.L.C. purchased a new position in shares of Prudential Financial during the third quarter worth approximately $354,000. Institutional investors and hedge funds own 62.01% 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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