Prudential Financial (NYSE:PRU) Chairman Charles Lowrey Sells 48,164 Shares

Prudential Financial, Inc. (NYSE:PRU) Chairman Charles Lowrey sold 48,164 shares of Prudential Financial stock in a transaction on Monday, November 10th. The shares were sold at an average price of $107.39, for a total transaction of $5,172,331.96. Following the completion of the sale, the chairman owned 165,564 shares in the company, valued at approximately $17,779,917.96. This trade represents a 22.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Prudential Financial Trading Up 0.9%

Shares of NYSE:PRU traded up $0.97 on Wednesday, hitting $107.71. The company had a trading volume of 1,658,291 shares, compared to its average volume of 1,723,645. The firm’s 50-day simple moving average is $103.68 and its two-hundred day simple moving average is $104.62. The firm has a market capitalization of $37.70 billion, a price-to-earnings ratio of 14.80, a P/E/G ratio of 0.88 and a beta of 1.05. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.60. Prudential Financial, Inc. has a 1 year low of $90.38 and a 1 year high of $130.55.

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

Prudential Financial Announces Dividend

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

Institutional Investors Weigh In On Prudential Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in PRU. Meeder Asset Management Inc. increased its position in Prudential Financial by 90.2% during the first quarter. Meeder Asset Management Inc. now owns 234 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 111 shares during the last quarter. AlphaQuest LLC lifted its stake in shares of Prudential Financial by 12,250.0% in the 1st quarter. AlphaQuest LLC now owns 247 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 245 shares during the period. Cheviot Value Management LLC purchased a new position in shares of Prudential Financial in the first quarter worth approximately $26,000. Clearstead Trust LLC grew its position in Prudential Financial by 350.8% during the first quarter. Clearstead Trust LLC now owns 266 shares of the financial services provider’s stock valued at $30,000 after buying an additional 207 shares during the period. Finally, Darwin Wealth Management LLC purchased a new stake in Prudential Financial during the second quarter valued at approximately $36,000. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Keefe, Bruyette & Woods increased their price objective on Prudential Financial from $117.00 to $118.00 and gave the stock a “market perform” rating in a report on Monday, November 3rd. Wells Fargo & Company decreased their price target on shares of Prudential Financial from $116.00 to $113.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 16th. Barclays dropped their price objective on shares of Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 8th. Wolfe Research started coverage on shares of Prudential Financial in a research note on Tuesday, September 16th. They set a “peer perform” rating for the company. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Prudential Financial in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $120.73.

Prudential Financial Company Profile

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.