Prudential Financial, Inc. (NYSE:PRU) EVP Charles F. Lowrey sold 44,630 shares of Prudential Financial stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $111.91, for a total transaction of $4,994,543.30. Following the completion of the transaction, the executive vice president now directly owns 79,354 shares in the company, valued at approximately $8,880,506.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Shares of Prudential Financial, Inc. (PRU) opened at $109.56 on Wednesday. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.34. The company has a market cap of $46,826.56, a price-to-earnings ratio of 10.67, a PEG ratio of 1.25 and a beta of 1.56. Prudential Financial, Inc. has a 1 year low of $95.95 and a 1 year high of $115.26.
Prudential Financial (NYSE:PRU) last issued its earnings results on Wednesday, November 1st. The financial services provider reported $3.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.71 by $0.30. The business had revenue of $13.36 billion for the quarter, compared to the consensus estimate of $12.24 billion. Prudential Financial had a net margin of 7.71% and a return on equity of 9.51%. During the same period in the previous year, the company earned $2.66 earnings per share. research analysts forecast that Prudential Financial, Inc. will post 10.38 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 14th. Investors of record on Monday, November 27th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 2.74%. Prudential Financial’s payout ratio is 30.18%.
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PRU has been the topic of a number of research reports. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $117.00 price target on shares of Prudential Financial in a research note on Wednesday, September 6th. Zacks Investment Research raised shares of Prudential Financial from a “hold” rating to a “buy” rating and set a $122.00 price target on the stock in a research note on Tuesday, October 10th. Citigroup Inc. raised shares of Prudential Financial from a “neutral” rating to a “buy” rating and set a $103.00 price target on the stock in a research note on Tuesday, October 17th. Morgan Stanley lifted their price target on shares of Prudential Financial from $118.00 to $123.00 and gave the company an “equal weight” rating in a research note on Thursday, October 5th. Finally, BidaskClub raised shares of Prudential Financial from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. Eight research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $115.13.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Cubist Systematic Strategies LLC increased its holdings in Prudential Financial by 608.4% during the third quarter. Cubist Systematic Strategies LLC now owns 46,752 shares of the financial services provider’s stock worth $4,971,000 after buying an additional 40,152 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in Prudential Financial during the third quarter worth $8,739,000. Highbridge Capital Management LLC acquired a new position in Prudential Financial during the third quarter worth $6,177,000. Crestline Management LP acquired a new position in Prudential Financial during the third quarter worth $2,742,000. Finally, Zions Bancorporation increased its holdings in Prudential Financial by 44.9% during the third quarter. Zions Bancorporation now owns 1,690 shares of the financial services provider’s stock worth $180,000 after buying an additional 524 shares during the last quarter. Institutional investors and hedge funds own 64.48% of the company’s stock.
About Prudential Financial
Prudential Financial, Inc, is a financial services company. The Company, through its subsidiaries, offers a range of financial products and services, which includes life insurance, annuities, retirement-related services, mutual funds and investment management. The Company’s operations consists of four divisions, which together encompass seven segments.
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