Charles F. Lowrey Sells 50,322 Shares of Prudential Financial Inc. (PRU) Stock
Prudential Financial Inc. (NYSE:PRU) insider Charles F. Lowrey sold 50,322 shares of Prudential Financial stock in a transaction dated Wednesday, October 5th. The stock was sold at an average price of $85.00, for a total value of $4,277,370.00. Following the transaction, the insider now owns 92,458 shares in the company, valued at $7,858,930. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Prudential Financial Inc. (NYSE:PRU) opened at 84.53 on Friday. The company’s 50-day moving average price is $79.77 and its 200-day moving average price is $76.18. The company has a market cap of $36.94 billion, a PE ratio of 8.68 and a beta of 1.68. Prudential Financial Inc. has a 12-month low of $57.19 and a 12-month high of $88.77.
Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $1.84 EPS for the quarter, missing the Zacks’ consensus estimate of $2.51 by $0.67. Prudential Financial had a net margin of 8.90% and a return on equity of 8.11%. During the same quarter in the prior year, the firm posted $2.91 EPS. Equities analysts anticipate that Prudential Financial Inc. will post ($0.01) earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Tuesday, August 23rd were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, August 19th. This represents a $2.80 dividend on an annualized basis and a yield of 3.31%. Prudential Financial’s dividend payout ratio (DPR) is currently 28.78%.
Several research firms have weighed in on PRU. Evercore ISI began coverage on Prudential Financial in a report on Wednesday, July 6th. They set a “hold” rating and a $78.00 target price on the stock. Zacks Investment Research upgraded Prudential Financial from a “sell” rating to a “hold” rating in a report on Thursday, July 14th. Goldman Sachs Group Inc. upgraded Prudential Financial from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $80.00 to $93.00 in a report on Friday, September 23rd. Citigroup Inc. reduced their target price on Prudential Financial from $83.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, July 7th. Finally, Credit Suisse Group AG began coverage on Prudential Financial in a report on Friday. They set a “neutral” rating on the stock. One analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. Prudential Financial currently has an average rating of “Buy” and an average target price of $89.33.
A number of hedge funds have recently modified their holdings of PRU. Lazard Asset Management LLC boosted its stake in shares of Prudential Financial by 16.9% in the first quarter. Lazard Asset Management LLC now owns 3,116 shares of the company’s stock worth $225,000 after buying an additional 451 shares during the period. RPg Family Wealth Advisory LLC boosted its stake in shares of Prudential Financial by 1.5% in the first quarter. RPg Family Wealth Advisory LLC now owns 35,074 shares of the company’s stock worth $2,533,000 after buying an additional 535 shares during the period. Meeder Asset Management Inc. boosted its stake in shares of Prudential Financial by 5.4% in the first quarter. Meeder Asset Management Inc. now owns 69,545 shares of the company’s stock worth $5,022,000 after buying an additional 3,533 shares during the period. Rafferty Asset Management LLC boosted its stake in shares of Prudential Financial by 49.2% in the first quarter. Rafferty Asset Management LLC now owns 59,771 shares of the company’s stock worth $4,317,000 after buying an additional 19,718 shares during the period. Finally, Pegasus Partners Ltd. purchased a new stake in shares of Prudential Financial during the first quarter worth approximately $511,000. 60.62% of the stock is currently owned by institutional investors and hedge funds.
Prudential Financial Company Profile
Prudential Financial, Inc is a financial services company. The Company, through its subsidiaries and affiliates, provides a range of financial products and services, including life insurance, annuities and investment management. The Company’s divisions include U.S. Retirement Solutions and Investment Management Division; U.S.
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