Traders Sell Shares of Prudential Financial, Inc. (PRU) on Strength (PRU)
Investors sold shares of Prudential Financial, Inc. (NYSE:PRU) on strength during trading on Monday. $38.57 million flowed into the stock on the tick-up and $71.33 million flowed out of the stock on the tick-down, for a money net flow of $32.76 million out of the stock. Of all equities tracked, Prudential Financial had the 28th highest net out-flow for the day. Prudential Financial traded up $2.02 for the day and closed at $100.93
A number of research analysts recently issued reports on PRU shares. BidaskClub cut Prudential Financial from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th. Credit Suisse Group cut their price target on Prudential Financial from $121.00 to $120.00 and set a “neutral” rating for the company in a report on Tuesday, May 23rd. ValuEngine raised Prudential Financial from a “buy” rating to a “strong-buy” rating in a report on Friday, June 2nd. Wells Fargo & Company reissued a “hold” rating on shares of Prudential Financial in a report on Tuesday, June 6th. Finally, Royal Bank Of Canada reissued a “hold” rating and set a $113.00 price objective on shares of Prudential Financial in a report on Tuesday, June 27th. Ten analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $111.49.
The stock has a market capitalization of $43.10 billion, a PE ratio of 11.27 and a beta of 1.49. The firm has a 50-day moving average price of $106.35 and a 200-day moving average price of $107.34.
Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $2.09 EPS for the quarter, missing the Zacks’ 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 during the quarter, compared to analyst estimates of $12.45 billion. During the same period last year, the business posted $1.84 EPS. On average, analysts expect that Prudential Financial, Inc. will post $10.14 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 14th. Shareholders of record on Tuesday, August 22nd will be paid a $0.75 dividend. The ex-dividend date of this dividend is Friday, August 18th. This represents a $3.00 dividend on an annualized basis and a yield of 2.97%. Prudential Financial’s dividend payout ratio (DPR) is presently 33.63%.
In related news, insider Nicholas C. Silitch sold 14,897 shares of Prudential Financial stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $110.00, for a total transaction of $1,638,670.00. Following the transaction, the insider now owns 21,274 shares of the company’s stock, valued at $2,340,140. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Stephen Pelletier sold 4,133 shares of Prudential Financial stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $112.18, for a total value of $463,639.94. Following the transaction, the insider now directly owns 10,924 shares in the company, valued at approximately $1,225,454.32. The disclosure for this sale can be found here. Insiders sold 220,615 shares of company stock valued at $24,276,660 in the last three months. Insiders own 0.66% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. Intl Fcstone Inc. purchased a new position in shares of Prudential Financial during the second quarter valued at approximately $247,000. Achmea Investment Management B.V. boosted its position in shares of Prudential Financial by 22.4% during the second quarter. Achmea Investment Management B.V. now owns 69,821 shares of the financial services provider’s stock valued at $7,548,000 after buying an additional 12,759 shares during the last quarter. USA Financial Portformulas Corp boosted its position in shares of Prudential Financial by 10.0% during the second quarter. USA Financial Portformulas Corp now owns 27,895 shares of the financial services provider’s stock valued at $3,017,000 after buying an additional 2,547 shares during the last quarter. Toronto Dominion Bank boosted its position in shares of Prudential Financial by 24.7% during the second quarter. Toronto Dominion Bank now owns 147,705 shares of the financial services provider’s stock valued at $15,971,000 after buying an additional 29,303 shares during the last quarter. Finally, Advisory Services Network LLC boosted its position in shares of Prudential Financial by 128.8% during the second quarter. Advisory Services Network LLC now owns 1,700 shares of the financial services provider’s stock valued at $184,000 after buying an additional 957 shares during the last quarter. 64.46% of the stock is currently owned by institutional investors.
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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