Prudential Financial (NYSE:PRU) EVP Sells $956,576.52 in Stock

Prudential Financial, Inc. (NYSE:PRU) EVP Ann Kappler sold 7,652 shares of the company’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $125.01, for a total value of $956,576.52. Following the transaction, the executive vice president owned 14,407 shares in the company, valued at $1,801,019.07. This trade represents a 34.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Prudential Financial Trading Down 1.3%

Shares of NYSE PRU opened at $120.65 on Friday. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $41.62 billion, a PE ratio of 10.93, a PEG ratio of 2.31 and a beta of 0.84. Prudential Financial, Inc. has a twelve month low of $91.89 and a twelve month high of $127.72. The stock has a fifty day simple moving average of $116.40 and a 200-day simple moving average of $105.60.

Prudential Financial (NYSE:PRU) last posted its earnings results on Tuesday, August 4th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.52 by $0.56. The firm had revenue of $14.15 billion for the quarter, compared to analyst estimates of $14.36 billion. Prudential Financial had a return on equity of 16.68% and a net margin of 6.51%.During the same quarter in the prior year, the company earned $3.58 EPS. On average, equities analysts forecast that Prudential Financial, Inc. will post 14.24 earnings per share for the current year.

Prudential Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Tuesday, August 25th will be given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 4.6%. The ex-dividend date of this dividend is Tuesday, August 25th. Prudential Financial’s dividend payout ratio is currently 50.72%.

Hedge Funds Weigh In On Prudential Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PRU. Keating Financial Advisory Services Inc. increased its holdings in Prudential Financial by 34.8% in the second quarter. Keating Financial Advisory Services Inc. now owns 395 shares of the financial services provider’s stock valued at $43,000 after buying an additional 102 shares during the last quarter. Rossby Financial LCC increased its holdings in shares of Prudential Financial by 32.4% in the 4th quarter. Rossby Financial LCC now owns 421 shares of the financial services provider’s stock valued at $48,000 after acquiring an additional 103 shares during the last quarter. TD Private Client Wealth LLC raised its position in shares of Prudential Financial by 5.6% during the 4th quarter. TD Private Client Wealth LLC now owns 1,972 shares of the financial services provider’s stock valued at $223,000 after acquiring an additional 104 shares in the last quarter. Western Wealth Management LLC lifted its stake in Prudential Financial by 1.7% during the fourth quarter. Western Wealth Management LLC now owns 6,215 shares of the financial services provider’s stock worth $702,000 after purchasing an additional 105 shares during the last quarter. Finally, Apella Capital LLC boosted its holdings in Prudential Financial by 3.7% in the first quarter. Apella Capital LLC now owns 2,979 shares of the financial services provider’s stock worth $303,000 after purchasing an additional 106 shares during the period. 56.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on PRU shares. Weiss Ratings raised shares of Prudential Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, July 16th. Jefferies Financial Group boosted their price target on shares of Prudential Financial from $105.00 to $110.00 and gave the stock a “hold” rating in a research note on Friday, July 10th. Mizuho upped their price objective on Prudential Financial from $101.00 to $109.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. Wall Street Zen lowered Prudential Financial from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Wells Fargo & Company boosted their target price on Prudential Financial from $103.00 to $110.00 and gave the stock an “underweight” rating in a research note on Wednesday. One investment analyst has rated the stock with a Buy rating, eleven have given a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and an average price target of $108.31.

Prudential Financial Company Profile

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential’s long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential’s core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.