Scott Sleyster Sells 9,379 Shares of Prudential Financial Inc. (PRU) Stock
Prudential Financial Inc. (NYSE:PRU) insider Scott Sleyster sold 9,379 shares of the company’s stock in a transaction that occurred on Friday, October 14th. The stock was sold at an average price of $85.06, for a total value of $797,777.74. Following the sale, the insider now owns 34,185 shares of the company’s stock, valued at approximately $2,907,776.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Prudential Financial Inc. (NYSE:PRU) traded down 0.17% during mid-day trading on Tuesday, hitting $84.37. The company had a trading volume of 1,685,977 shares. Prudential Financial Inc. has a one year low of $57.19 and a one year high of $88.77. The company’s 50 day moving average price is $81.09 and its 200-day moving average price is $76.73. The company has a market cap of $36.87 billion, a PE ratio of 8.67 and a beta of 1.68.
Prudential Financial (NYSE:PRU) last announced its earnings results on Wednesday, August 3rd. The company reported $1.84 earnings per share for the quarter, missing the 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 period in the prior year, the company posted $2.91 EPS. Equities research analysts anticipate that Prudential Financial Inc. will post ($0.01) EPS for the current fiscal year.
PRU has been the subject of several analyst reports. Bank of America Corp. cut Prudential Financial from a “neutral” rating to an “underperform” rating in a research note on Wednesday, June 29th. Wells Fargo & Co. initiated 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 initiated coverage on Prudential Financial in a research note on Friday, October 7th. They set a “neutral” rating and a $89.00 price target for the company. Finally, FBR & Co cut Prudential Financial from an “outperform” rating to a “market perform” rating and set a $86.00 price target for the company. in a research note on Tuesday. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. Prudential Financial has a consensus rating of “Buy” and an average target price of $89.13.
Hedge funds have recently made changes to their positions in the stock. Cohen & Steers Inc. acquired a new stake in shares of Prudential Financial during the second quarter valued at $718,824,000. Hexavest Inc. acquired a new stake in shares of Prudential Financial during the second quarter valued at $54,008,000. Bank of Montreal Can acquired a new stake in shares of Prudential Financial during the second quarter valued at $39,301,000. Panagora Asset Management Inc. increased its stake in shares of Prudential Financial by 1,637.1% in the first quarter. Panagora Asset Management Inc. now owns 581,941 shares of the company’s stock valued at $42,028,000 after buying an additional 548,441 shares during the last quarter. Finally, Emerald Acquisition Ltd. acquired a new stake in shares of Prudential Financial during the second quarter valued at $38,908,000. 60.58% of the stock is currently owned by hedge funds and other institutional investors.
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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