Prudential Financial, Inc. (NYSE:PRU) SVP Sells $782,471.69 in Stock

Prudential Financial, Inc. (NYSE:PRU) SVP Timothy L. Schmidt sold 8,281 shares of the business’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $94.49, for a total transaction of $782,471.69. Following the completion of the transaction, the senior vice president now owns 14,621 shares in the company, valued at approximately $1,381,538.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Prudential Financial Trading Down 1.3 %

Shares of PRU stock traded down $1.26 on Monday, hitting $94.49. 506,234 shares of the company’s stock traded hands, compared to its average volume of 1,924,350. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.07 and a current ratio of 0.07. Prudential Financial, Inc. has a one year low of $75.37 and a one year high of $108.81. The company’s fifty day simple moving average is $93.77 and its 200 day simple moving average is $90.62. The stock has a market capitalization of $34.11 billion, a price-to-earnings ratio of 61.77, a P/E/G ratio of 0.77 and a beta of 1.39.

Prudential Financial (NYSE:PRU) last released its earnings results on Wednesday, November 1st. The financial services provider reported $3.44 EPS for the quarter, beating the consensus estimate of $3.16 by $0.28. Prudential Financial had a net margin of 1.21% and a return on equity of 16.03%. The company had revenue of $10.13 billion for the quarter, compared to analyst estimates of $12.91 billion. During the same quarter last year, the firm earned $2.13 EPS. Equities analysts forecast that Prudential Financial, Inc. will post 11.71 EPS for the current year.

Prudential Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Tuesday, November 21st will be paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 5.29%. The ex-dividend date is Monday, November 20th. Prudential Financial’s dividend payout ratio (DPR) is 322.58%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Raymond James raised shares of Prudential Financial from a “market perform” rating to a “strong-buy” rating and set a $125.00 price target for the company in a research note on Thursday, August 24th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Prudential Financial in a research report on Wednesday, October 4th. They set a “hold” rating and a $99.00 target price for the company. Piper Sandler boosted their target price on shares of Prudential Financial from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Thursday, August 3rd. Morgan Stanley upped their price objective on shares of Prudential Financial from $103.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 15th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Prudential Financial from $121.00 to $119.00 and set an “overweight” rating for the company in a research report on Friday, October 6th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $103.00.

Hedge Funds Weigh In On Prudential Financial

Hedge funds and other institutional investors have recently modified their holdings of the stock. Moneta Group Investment Advisors LLC grew its holdings in Prudential Financial by 104,987.2% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 2,450,633 shares of the financial services provider’s stock worth $243,740,000 after purchasing an additional 2,448,301 shares during the period. Providence Capital Advisors LLC grew its holdings in Prudential Financial by 8,350.2% in the first quarter. Providence Capital Advisors LLC now owns 2,219,790 shares of the financial services provider’s stock worth $26,828,000 after purchasing an additional 2,193,521 shares during the period. Bank Julius Baer & Co. Ltd Zurich grew its holdings in Prudential Financial by 98,060.5% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,968,118 shares of the financial services provider’s stock worth $173,627,000 after purchasing an additional 1,966,113 shares during the period. Norges Bank bought a new position in shares of Prudential Financial in the fourth quarter worth approximately $172,363,000. Finally, Cowa LLC lifted its stake in shares of Prudential Financial by 9,930.2% in the first quarter. Cowa LLC now owns 771,824 shares of the financial services provider’s stock worth $912,000 after buying an additional 764,129 shares in the last quarter. Hedge funds and other institutional investors own 54.92% of the company’s stock.

About Prudential Financial

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 Annuities, Individual Life, Assurance IQ, and International Businesses segments.