Prudential Financial Inc. (PRU) EVP Timothy P. Harris Sells 6,531 Shares of Stock
Prudential Financial Inc. (NYSE:PRU) EVP Timothy P. Harris sold 6,531 shares of the business’s stock in a transaction dated Wednesday, October 5th. The shares were sold at an average price of $85.00, for a total value of $555,135.00. Following the completion of the sale, the executive vice president now directly owns 20,924 shares of the company’s stock, valued at $1,778,540. The sale was disclosed in a legal filing with the SEC, which is available through this link.
Prudential Financial Inc. (NYSE:PRU) opened at 84.53 on Friday. 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 1-year low of $57.19 and a 1-year high of $88.77. The company has a 50-day moving average price of $79.77 and a 200-day moving average price of $76.18.
Prudential Financial (NYSE:PRU) last issued its earnings results on Wednesday, August 3rd. The company reported $1.84 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.51 by $0.67. Prudential Financial had a return on equity of 8.11% and a net margin of 8.90%. During the same quarter in the previous year, the firm posted $2.91 earnings per share. On average, analysts expect that Prudential Financial Inc. will post ($0.01) EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Tuesday, August 23rd were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.31%. The ex-dividend date was Friday, August 19th. Prudential Financial’s dividend payout ratio is presently 28.78%.
A number of analysts recently commented on PRU shares. Bank of America Corp. lowered Prudential Financial from a “neutral” rating to an “underperform” rating in a research report on Wednesday, June 29th. Wells Fargo & Co. assumed coverage on Prudential Financial in a research note on Friday, September 23rd. They set a “market perform” rating for the company. Deutsche Bank AG cut their price target on Prudential Financial from $90.00 to $83.00 and set a “buy” rating for the company in a research note on Thursday, July 7th. Credit Suisse Group AG assumed coverage on Prudential Financial in a research note on Friday. They set a “neutral” rating for the company. Finally, Zacks Investment Research downgraded Prudential Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, June 21st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $89.33.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Americafirst Capital Management LLC acquired a new position in shares of Prudential Financial during the second quarter valued at $100,000. Bessemer Group Inc. boosted its position in shares of Prudential Financial by 6.7% in the second quarter. Bessemer Group Inc. now owns 1,516 shares of the company’s stock valued at $108,000 after buying an additional 95 shares in the last quarter. Gierl Augustine Investment Management Inc boosted its position in shares of Prudential Financial by 14.4% in the second quarter. Gierl Augustine Investment Management Inc now owns 1,632 shares of the company’s stock valued at $116,000 after buying an additional 206 shares in the last quarter. Cantab Capital Partners LLP acquired a new position in shares of Prudential Financial during the second quarter valued at $132,000. Finally, Seven Eight Capital LLC boosted its position in shares of Prudential Financial by 757.0% in the first quarter. Seven Eight Capital LLC now owns 2,151 shares of the company’s stock valued at $155,000 after buying an additional 1,900 shares in the last quarter. Institutional investors and hedge funds own 60.62% of the company’s stock.
About Prudential Financial
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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