Prudential Financial (NYSE:PRU) CEO Andrew Sullivan Sells 3,544 Shares of Stock

Prudential Financial, Inc. (NYSE:PRU) CEO Andrew Sullivan sold 3,544 shares of Prudential Financial stock in a transaction dated Friday, November 6th. The stock was sold at an average price of $121.32, for a total value of $429,958.08. Following the transaction, the chief executive officer directly owned 50,317 shares in the company, valued at $6,104,458.44. The trade was a 6.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Prudential Financial Trading Up 1.1%

NYSE PRU opened at $123.38 on Wednesday. The firm has a market capitalization of $42.32 billion, a PE ratio of 11.23, a price-to-earnings-growth ratio of 1.93 and a beta of 0.85. The business’s 50-day moving average price is $117.14 and its two-hundred day moving average price is $109.10. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.66. Prudential Financial, Inc. has a 12 month low of $91.89 and a 12 month high of $128.78.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Tuesday, November 3rd. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.33 by $0.44. The company had revenue of $14.45 billion during the quarter, compared to the consensus estimate of $14.66 billion. Prudential Financial had a return on equity of 16.38% and a net margin of 6.75%. During the same period last year, the company earned $4.26 earnings per share. On average, analysts expect that Prudential Financial, Inc. will post 13.60 EPS for the current year.

Prudential Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Tuesday, November 24th will be given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend is Tuesday, November 24th. Prudential Financial’s dividend payout ratio is currently 50.96%.

Institutional Investors Weigh In On Prudential Financial

Several institutional investors and hedge funds have recently made changes to their positions in the business. Orca Investment Management LLC bought a new stake in shares of Prudential Financial in the 2nd quarter valued at $2,605,000. Jones Financial Companies Lllp boosted its stake in Prudential Financial by 21.3% during the second quarter. Jones Financial Companies Lllp now owns 58,436 shares of the financial services provider’s stock worth $6,325,000 after acquiring an additional 10,257 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in Prudential Financial by 2.7% during the second quarter. Envestnet Asset Management Inc. now owns 739,294 shares of the financial services provider’s stock worth $79,792,000 after acquiring an additional 19,451 shares in the last quarter. Raiffeisen Bank International AG grew its holdings in Prudential Financial by 7.3% in the second quarter. Raiffeisen Bank International AG now owns 91,566 shares of the financial services provider’s stock worth $9,999,000 after purchasing an additional 6,237 shares during the period. Finally, Assenagon Asset Management S.A. grew its holdings in Prudential Financial by 379.8% in the second quarter. Assenagon Asset Management S.A. now owns 619,701 shares of the financial services provider’s stock worth $66,884,000 after purchasing an additional 490,553 shares during the period. Institutional investors own 56.83% of the company’s stock.

Prudential Financial News Summary

Here are the key news stories impacting Prudential Financial this week:

• Positive Sentiment: Prudential declared a quarterly common-stock dividend of $1.40 per share, payable December 10 to shareholders of record November 24. The payout may support PRU’s appeal to income-focused investors; the announcement did not specify a dividend increase. Dividend announcement
• Negative Sentiment: Three executives sold a combined 9,135 shares on November 6 for roughly $1.11 million. CEO Andrew F. Sullivan sold 3,544 shares; EVP Ann Kappler sold 2,797; and SVP Robert E. Boyle sold 2,794. The transactions may weigh on sentiment, though the filings do not state the executives’ reasons. Read More., Read More., Read More.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PRU. Barclays raised their price target on shares of Prudential Financial from $94.00 to $98.00 and gave the stock an “underweight” rating in a report on Wednesday, November 4th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Prudential Financial from $105.00 to $102.00 and set a “hold” rating on the stock in a research note on Friday, October 23rd. Weiss Ratings cut shares of Prudential Financial from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, October 14th. TD Cowen lowered their target price on shares of Prudential Financial from $114.00 to $112.00 and set a “hold” rating for the company in a research note on Wednesday, October 21st. Finally, Wall Street Zen downgraded shares of Prudential Financial from a “buy” rating to a “hold” rating in a research note on Monday, September 28th. Two analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and six have assigned a Sell rating to the stock. Based on data from MarketBeat, Prudential Financial presently has a consensus rating of “Reduce” and a consensus price target of $112.40.

Prudential Financial Company Profile

Prudential Financial, Inc. is a financial services company headquartered in Newark, New Jersey. Founded in 1875 as the Prudential Friendly Society, it has grown into a provider of insurance, retirement and investment services. The company offers life insurance, annuities, workplace benefits and retirement-related products and services. Through its asset management businesses, Prudential also serves individual and institutional investors. Prudential serves customers in the United States and operates internationally, with a significant presence in Japan and other markets.