Investors Sell Prudential Financial, Inc. (PRU) on Strength After Insider Selling
Traders sold shares of Prudential Financial, Inc. (NYSE:PRU) on strength during trading hours on Monday following insider selling activity. $24.48 million flowed into the stock on the tick-up and $72.35 million flowed out of the stock on the tick-down, for a money net flow of $47.87 million out of the stock. Of all equities tracked, Prudential Financial had the 9th highest net out-flow for the day. Prudential Financial traded up $1.05 for the day and closed at $106.74Specifically, Chairman John R. Strangfeld, Jr. sold 201,585 shares of the business’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $110.00, for a total value of $22,174,350.00. Following the transaction, the chairman now directly owns 456,121 shares of the company’s stock, valued at approximately $50,173,310. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Stephen Pelletier sold 4,133 shares of the business’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $112.18, for a total transaction of $463,639.94. Following the completion of the transaction, the insider now directly owns 10,924 shares in the company, valued at $1,225,454.32. The disclosure for this sale can be found here. Insiders sold a total of 220,615 shares of company stock worth $24,276,660 over the last three months. 0.66% of the stock is currently owned by corporate insiders.
Several equities analysts have issued reports on PRU shares. BidaskClub raised shares of Prudential Financial from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Deutsche Bank AG boosted their price objective on shares of Prudential Financial from $114.00 to $117.00 and gave the company a “buy” rating in a research note on Wednesday, April 19th. Zacks Investment Research raised shares of Prudential Financial from a “hold” rating to a “buy” rating and set a $117.00 price objective on the stock in a research note on Tuesday, April 18th. Keefe, Bruyette & Woods reissued a “buy” rating on shares of Prudential Financial in a research note on Friday. Finally, Wells Fargo & Company reissued a “hold” rating on shares of Prudential Financial in a research note on Thursday, May 4th. Ten analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $111.21.
The firm has a market cap of $45.58 billion, a price-to-earnings ratio of 11.92 and a beta of 1.50. The company has a 50 day moving average of $110.42 and a 200-day moving average of $108.12.
Prudential Financial (NYSE:PRU) last announced its earnings results on Wednesday, August 2nd. The financial services provider reported $2.09 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.70 by $0.61. Prudential Financial had a net margin of 7.15% and a return on equity of 8.98%. The firm had revenue of $13.03 billion for the quarter, compared to the consensus estimate of $12.45 billion. During the same period in the prior year, the business earned $1.84 EPS. Equities research analysts anticipate that Prudential Financial, Inc. will post $10.21 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 14th. Investors of record on Tuesday, August 22nd will be paid a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, August 18th. This represents a $3.00 annualized dividend and a yield of 2.81%. Prudential Financial’s dividend payout ratio is currently 33.63%.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Green Square Capital LLC boosted its position in shares of Prudential Financial by 0.3% in the second quarter. Green Square Capital LLC now owns 2,065 shares of the financial services provider’s stock valued at $223,000 after buying an additional 7 shares in the last quarter. BlueCrest Capital Management Ltd purchased a new position in shares of Prudential Financial during the second quarter valued at $1,543,000. Dana Investment Advisors Inc. boosted its position in shares of Prudential Financial by 22.7% in the second quarter. Dana Investment Advisors Inc. now owns 277,110 shares of the financial services provider’s stock valued at $29,967,000 after buying an additional 51,302 shares in the last quarter. Janus Henderson Group PLC boosted its position in shares of Prudential Financial by 1,997.1% in the second quarter. Janus Henderson Group PLC now owns 1,204,160 shares of the financial services provider’s stock valued at $130,218,000 after buying an additional 1,146,739 shares in the last quarter. Finally, Horizon Investment Services LLC boosted its position in shares of Prudential Financial by 9.8% in the second quarter. Horizon Investment Services LLC now owns 2,199 shares of the financial services provider’s stock valued at $238,000 after buying an additional 196 shares in the last quarter. 63.58% of the stock is owned by institutional investors and hedge funds.
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Prudential Financial Company Profile
Prudential Financial, Inc, is a financial services company. The Company, through its subsidiaries, offers a range of financial products and services, which includes life insurance, annuities, retirement-related services, mutual funds and investment management. The Company’s operations consists of four divisions, which together encompass seven segments.
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