Timothy Schmidt Sells 8,000 Shares of Prudential Financial (NYSE:PRU) Stock

Prudential Financial, Inc. (NYSE:PRU) SVP Timothy Schmidt sold 8,000 shares of the stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $107.69, for a total value of $861,520.00. Following the transaction, the senior vice president directly owned 11,535 shares of the company’s stock, valued at $1,242,204.15. This trade represents a 40.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Prudential Financial Stock Down 0.2%

Shares of NYSE:PRU traded down $0.26 during trading on Tuesday, hitting $107.96. 1,368,453 shares of the company were exchanged, compared to its average volume of 1,725,325. The stock has a market cap of $37.79 billion, a price-to-earnings ratio of 14.83, a P/E/G ratio of 0.88 and a beta of 0.97. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.60. Prudential Financial, Inc. has a fifty-two week low of $90.38 and a fifty-two week high of $128.72. The firm has a fifty day moving average price of $104.04 and a two-hundred day moving average price of $104.86.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $3.58 earnings per share (EPS) for the quarter. Prudential Financial had a net margin of 4.65% and a return on equity of 16.98%. The firm had revenue of $8.35 billion for the quarter. As a group, research analysts anticipate that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 11th. Shareholders of record on Tuesday, November 18th will be given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date of this dividend is Tuesday, November 18th. Prudential Financial’s payout ratio is 74.18%.

Analyst Ratings Changes

A number of analysts have recently issued reports on PRU shares. Keefe, Bruyette & Woods raised their price objective on Prudential Financial from $117.00 to $118.00 and gave the company a “market perform” rating in a research report on Monday, November 3rd. Wolfe Research assumed coverage on shares of Prudential Financial in a research report on Tuesday, September 16th. They set a “peer perform” rating for the company. Morgan Stanley increased their price objective on shares of Prudential Financial from $117.00 to $118.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 7th. Barclays reduced their target price on shares of Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating for the company in a report on Wednesday, October 8th. Finally, Evercore ISI raised their price objective on shares of Prudential Financial from $120.00 to $122.00 and gave the stock an “in-line” rating in a research report on Thursday, October 30th. One analyst has rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $119.50.

Institutional Investors Weigh In On Prudential Financial

Several institutional investors have recently made changes to their positions in the stock. CIBC Private Wealth Group LLC increased its stake in Prudential Financial by 0.3% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 28,795 shares of the financial services provider’s stock worth $2,987,000 after acquiring an additional 97 shares during the period. Proffitt & Goodson Inc. grew its holdings in shares of Prudential Financial by 12.7% during the 2nd quarter. Proffitt & Goodson Inc. now owns 871 shares of the financial services provider’s stock worth $94,000 after purchasing an additional 98 shares in the last quarter. Summit Global Investments increased its position in shares of Prudential Financial by 1.3% in the second quarter. Summit Global Investments now owns 7,609 shares of the financial services provider’s stock worth $817,000 after purchasing an additional 100 shares during the period. Mindset Wealth Management LLC raised its stake in Prudential Financial by 2.1% in the third quarter. Mindset Wealth Management LLC now owns 4,781 shares of the financial services provider’s stock valued at $496,000 after purchasing an additional 100 shares in the last quarter. Finally, Thrive Wealth Management LLC lifted its position in Prudential Financial by 2.6% during the second quarter. Thrive Wealth Management LLC now owns 4,007 shares of the financial services provider’s stock worth $430,000 after purchasing an additional 101 shares during the period. 56.83% of the stock is currently owned by institutional investors.

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 Life, and International Businesses segments.