Prudential Financial Inc. (PRU) SVP Sharon C. Taylor Sells 85,490 Shares of Stock
Prudential Financial Inc. (NYSE:PRU) SVP Sharon C. Taylor sold 85,490 shares of the firm’s stock in a transaction dated Monday, October 10th. The stock was sold at an average price of $84.99, for a total transaction of $7,265,795.10. Following the completion of the transaction, the senior vice president now owns 77,221 shares of the company’s stock, valued at $6,563,012.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Shares of Prudential Financial Inc. (NYSE:PRU) opened at 84.49 on Thursday. The firm has a 50-day moving average of $80.48 and a 200-day moving average of $76.44. The firm has a market capitalization of $36.92 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 released its quarterly earnings results on Wednesday, August 3rd. The company reported $1.84 earnings per share for the quarter, missing analysts’ consensus estimates 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 last year, the company posted $2.91 EPS. On average, equities research analysts anticipate that Prudential Financial Inc. will post ($0.01) EPS for the current fiscal 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. This represents a $2.80 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date was Friday, August 19th. Prudential Financial’s dividend payout ratio (DPR) is currently 28.78%.
A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in 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. purchased a new position in Prudential Financial during the second quarter worth $718,824,000. Massachusetts Financial Services Co. MA increased its position in 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 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 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. 60.62% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have commented on the stock. Credit Suisse Group AG assumed coverage on shares of Prudential Financial in a report on Friday, October 7th. They issued a “neutral” rating and a $89.00 target price for the company. Wells Fargo & Co. assumed coverage on shares of Prudential Financial in a report on Friday, September 23rd. They issued a “market perform” rating for the company. Goldman Sachs Group Inc. upgraded shares of Prudential Financial from a “neutral” rating to a “buy” rating and raised their target price for the stock from $80.00 to $93.00 in a report on Friday, September 23rd. Zacks Investment Research cut shares of Prudential Financial from a “hold” rating to a “sell” rating in a report on Tuesday, June 21st. Finally, Deutsche Bank AG decreased their target price on shares of Prudential Financial from $90.00 to $83.00 and set a “buy” rating for the company in a report on Thursday, July 7th. One analyst has rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $89.13.
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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