Prudential Financial (NYSE:PRU) Stock: Insider Robert Boyle Sells 2,794 Shares

Prudential Financial, Inc. (NYSE:PRU) SVP Robert Boyle sold 2,794 shares of the business’s stock in a transaction dated Friday, November 6th. The shares were sold at an average price of $121.24, for a total value of $338,744.56. Following the sale, the senior vice president directly owned 6,008 shares of the company’s stock, valued at $728,409.92. This represents a 31.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Prudential Financial Stock Performance

Shares of PRU opened at $123.00 on Thursday. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.66. The business has a 50-day simple moving average of $117.26 and a two-hundred day simple moving average of $109.18. The stock has a market cap of $42.19 billion, a price-to-earnings ratio of 8.35, a PEG ratio of 1.95 and a beta of 0.85. Prudential Financial, Inc. has a 52 week low of $91.89 and a 52 week high of $128.78.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Tuesday, November 3rd. The financial services provider reported $3.77 EPS for the quarter, topping the consensus estimate of $3.33 by $0.44. Prudential Financial had a return on equity of 16.38% and a net margin of 6.75%. The firm had revenue of $14.45 billion for the quarter, compared to the consensus estimate of $14.66 billion. During the same quarter 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. Investors of record on Tuesday, November 24th will be issued a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend is Tuesday, November 24th. Prudential Financial’s dividend payout ratio is currently 50.96%.

Institutional Trading of Prudential Financial

Several institutional investors have recently made changes to their positions in PRU. Patron Partners LLC boosted its stake in Prudential Financial by 12.3% in the 3rd quarter. Patron Partners LLC now owns 11,637 shares of the financial services provider’s stock worth $1,322,000 after purchasing an additional 1,272 shares during the period. Advisors Asset Management Inc. bought a new stake in shares of Prudential Financial during the third quarter valued at approximately $3,097,000. Private Wealth Asset Management LLC raised its position in shares of Prudential Financial by 3,404.3% during the third quarter. Private Wealth Asset Management LLC now owns 3,224 shares of the financial services provider’s stock valued at $384,000 after buying an additional 3,132 shares during the last quarter. Westpac Banking Corp lifted its holdings in shares of Prudential Financial by 915.9% in the third quarter. Westpac Banking Corp now owns 41,805 shares of the financial services provider’s stock worth $4,748,000 after buying an additional 37,690 shares in the last quarter. Finally, Private Advisor Group LLC lifted its holdings in shares of Prudential Financial by 2.4% in the third quarter. Private Advisor Group LLC now owns 47,527 shares of the financial services provider’s stock worth $5,398,000 after buying an additional 1,097 shares in the last quarter. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Key Prudential Financial News

These are some of the PRU news items that stood out recently:

• Positive Sentiment: Prudential declared a quarterly dividend of $1.40 per share, equivalent to $5.60 annually and a yield of about 4.6%. The dividend supports the stock’s appeal to income-focused investors. Dividend announcement
• Neutral Sentiment: UBS raised its price target from $92 to $125 but maintained a neutral rating. The new target implies only about 1.6% upside from the cited $123 share price, suggesting limited near-term upside in the analyst’s view. UBS rating information
• Negative Sentiment: Three executives sold a combined 9,135 shares on November 6: CEO Andrew Sullivan, EVP Ann Kappler and SVP Robert Boyle. The sales may weigh on sentiment, although the filings do not give the executives’ reasons. Read More.; Read More.; Read More..

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PRU. Weiss Ratings downgraded shares of Prudential Financial from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, October 14th. Wall Street Zen cut shares of Prudential Financial from a “buy” rating to a “hold” rating in a research note on Monday, September 28th. Evercore decreased their price objective on shares of Prudential Financial from $110.00 to $106.00 in a research report on Friday, October 9th. BMO Capital Markets raised their price objective on shares of Prudential Financial from $90.00 to $120.00 and gave the company an “underperform” rating in a research report on Friday, August 21st. Finally, Morgan Stanley lowered their target price on shares of Prudential Financial from $105.00 to $100.00 and set an “underweight” rating on the stock in a research note on Monday, October 19th. Two equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and six have given a Sell rating to the company. According to MarketBeat.com, Prudential Financial has an average rating of “Reduce” and a consensus price target of $114.20.

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.