Prudential Financial, Inc. (NYSE:PRU) SVP Timothy L. Schmidt Sells 8,281 Shares

Prudential Financial, Inc. (NYSE:PRU) SVP Timothy L. Schmidt sold 8,281 shares of the business’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $94.49, for a total value of $782,471.69. Following the sale, the senior vice president now owns 14,621 shares in the company, valued at $1,381,538.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Prudential Financial Stock Performance

NYSE:PRU traded down $1.26 during trading hours on Monday, reaching $94.49. 506,234 shares of the stock were exchanged, compared to its average volume of 1,924,350. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.70. The firm has a 50 day simple moving average of $93.77 and a 200-day simple moving average of $90.62. Prudential Financial, Inc. has a 52 week low of $75.37 and a 52 week high of $108.81. The stock has a market capitalization of $34.11 billion, a P/E ratio of 61.77, a P/E/G ratio of 0.77 and a beta of 1.39.

Prudential Financial (NYSE:PRU) last released its earnings results on Wednesday, November 1st. The financial services provider reported $3.44 EPS for the quarter, topping analysts’ consensus estimates of $3.16 by $0.28. The company had revenue of $10.13 billion for the quarter, compared to the consensus estimate of $12.91 billion. Prudential Financial had a return on equity of 16.03% and a net margin of 1.21%. During the same quarter last year, the business posted $2.13 EPS. As a group, sell-side analysts forecast that Prudential Financial, Inc. will post 11.71 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Investors of record on Tuesday, November 21st will be issued a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 5.29%. The ex-dividend date is Monday, November 20th. Prudential Financial’s dividend payout ratio (DPR) is 322.58%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Morgan Stanley boosted their price target on Prudential Financial from $103.00 to $105.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 15th. Raymond James raised Prudential Financial from a “market perform” rating to a “strong-buy” rating and set a $125.00 price target for the company in a report on Thursday, August 24th. StockNews.com assumed coverage on Prudential Financial in a report on Thursday, October 5th. They issued a “hold” rating for the company. TheStreet lowered Prudential Financial from a “b” rating to a “c” rating in a research note on Wednesday, November 1st. Finally, JPMorgan Chase & Co. dropped their target price on Prudential Financial from $121.00 to $119.00 and set an “overweight” rating for the company in a research note on Friday, October 6th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Prudential Financial has an average rating of “Hold” and a consensus price target of $103.00.

Institutional Trading of Prudential Financial

Hedge funds have recently added to or reduced their stakes in the business. State Street Corp increased its position in shares of Prudential Financial by 0.3% during the 2nd quarter. State Street Corp now owns 16,603,253 shares of the financial services provider’s stock valued at $1,464,739,000 after purchasing an additional 46,547 shares during the period. Geode Capital Management LLC increased its position in shares of Prudential Financial by 1.4% during the 2nd quarter. Geode Capital Management LLC now owns 7,721,677 shares of the financial services provider’s stock valued at $679,412,000 after purchasing an additional 107,893 shares during the period. Morgan Stanley increased its position in shares of Prudential Financial by 6.7% during the 4th quarter. Morgan Stanley now owns 6,589,363 shares of the financial services provider’s stock valued at $655,378,000 after purchasing an additional 413,421 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Prudential Financial by 6.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 6,353,887 shares of the financial services provider’s stock worth $750,839,000 after acquiring an additional 356,957 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Prudential Financial by 4.8% in the 3rd quarter. Northern Trust Corp now owns 4,353,086 shares of the financial services provider’s stock worth $413,064,000 after acquiring an additional 197,422 shares during the last quarter. Institutional investors own 54.92% of the company’s stock.

About Prudential Financial

Prudential Financial, Inc, together with its subsidiaries, provides insurance, investment management, and other financial products and services in the United States and internationally. It operates through PGIM, Retirement Strategies, Group Insurance, Individual Annuities, Individual Life, Assurance IQ, and International Businesses segments.