Prudential Financial Inc. (PRU) Insider Charles F. Lowrey Sells 50,322 Shares of 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 completion of the sale, the insider now owns 92,458 shares of the company’s stock, valued at $7,858,930. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Prudential Financial Inc. (NYSE:PRU) opened at 84.53 on Friday. The firm has a 50-day moving average price of $79.77 and a 200 day moving average price of $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 1-year low of $57.19 and a 1-year high of $88.77.
Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $1.84 earnings per share (EPS) for the quarter, missing the Zacks’ 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 period in the prior year, the company earned $2.91 EPS. On average, equities analysts anticipate that Prudential Financial Inc. will post ($0.01) earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Tuesday, August 23rd were given a dividend of $0.70 per share. The ex-dividend date was Friday, August 19th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.31%. Prudential Financial’s dividend payout ratio (DPR) is 28.78%.
Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Prudential Financial by 0.9% in the second quarter. Vanguard Group Inc. now owns 28,609,632 shares of the company’s stock worth $2,041,011,000 after buying an additional 242,859 shares during the period. Cohen & Steers Inc. bought a new position in shares of Prudential Financial during the second quarter worth about $718,824,000. Massachusetts Financial Services Co. MA increased its position in shares of Prudential Financial by 1.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 9,590,228 shares of the company’s stock worth $684,166,000 after buying an additional 90,284 shares during the period. BlackRock Group LTD increased its position in shares of Prudential Financial by 1.7% in the second quarter. BlackRock Group LTD now owns 5,411,410 shares of the company’s stock worth $386,051,000 after buying an additional 92,365 shares during the period. Finally, Ameriprise Financial Inc. increased its position in shares of Prudential Financial by 0.8% in the second quarter. Ameriprise Financial Inc. now owns 5,115,560 shares of the company’s stock worth $364,944,000 after buying an additional 39,095 shares during the period. Institutional investors own 60.62% of the company’s stock.
A number of brokerages recently commented on PRU. Evercore ISI began coverage on Prudential Financial in a research report on Wednesday, July 6th. They issued a “hold” rating and a $78.00 price objective for the company. Zacks Investment Research upgraded Prudential Financial from a “sell” rating to a “hold” rating in a research report on Thursday, July 14th. Goldman Sachs Group Inc. upgraded Prudential Financial from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $80.00 to $93.00 in a research report on Friday, September 23rd. Citigroup Inc. decreased their target price on Prudential Financial from $83.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, July 7th. Finally, Credit Suisse Group AG began coverage on Prudential Financial in a research report on Friday. They set a “neutral” rating for the company. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $89.33.
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.
Receive News & Stock Ratings for Prudential Financial Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prudential Financial Inc. and related stocks with our FREE daily email newsletter.