Prudential Financial Inc (NYSE:PRU) insider Stephen Pelletier sold 40,729 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $108.75, for a total transaction of $4,429,278.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Shares of Prudential Financial Inc (NYSE:PRU) opened at $108.98 on Friday. Prudential Financial Inc has a 52 week low of $97.88 and a 52 week high of $127.14. The firm has a market cap of $45,990.00, a P/E ratio of 9.69, a P/E/G ratio of 1.13 and a beta of 1.49. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.32.
Prudential Financial (NYSE:PRU) last announced its earnings results on Wednesday, February 7th. The financial services provider reported $2.69 earnings per share for the quarter, topping the consensus estimate of $2.64 by $0.05. Prudential Financial had a net margin of 13.41% and a return on equity of 9.29%. The firm had revenue of $15.25 billion for the quarter, compared to the consensus estimate of $12.87 billion. During the same period in the prior year, the firm earned $2.46 EPS. analysts predict that Prudential Financial Inc will post 12.06 earnings per share for the current year.
Prudential Financial declared that its board has approved a stock repurchase program on Thursday, December 14th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Wednesday, February 21st will be issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 3.30%. The ex-dividend date of this dividend is Tuesday, February 20th. This is a boost from Prudential Financial’s previous quarterly dividend of $0.75. Prudential Financial’s payout ratio is 32.00%.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Truewealth LLC acquired a new position in Prudential Financial during the 4th quarter worth approximately $105,000. Pinnacle Wealth Planning Services Inc. acquired a new position in Prudential Financial during the 4th quarter worth approximately $105,000. We Are One Seven LLC acquired a new position in Prudential Financial during the 4th quarter worth approximately $111,000. FTB Advisors Inc. grew its holdings in Prudential Financial by 232.2% during the 4th quarter. FTB Advisors Inc. now owns 1,073 shares of the financial services provider’s stock worth $124,000 after acquiring an additional 750 shares in the last quarter. Finally, Virtue Capital Management LLC acquired a new position in Prudential Financial during the 4th quarter worth approximately $123,000. Institutional investors own 63.81% of the company’s stock.
A number of research firms have recently issued reports on PRU. Royal Bank of Canada raised shares of Prudential Financial from a “sector perform” rating to an “outperform” rating in a research note on Monday, February 12th. They noted that the move was a valuation call. Wells Fargo & Co reissued a “hold” rating and issued a $120.00 price target (up from $114.00) on shares of Prudential Financial in a research note on Wednesday, November 8th. Sandler O’Neill reissued a “buy” rating and issued a $134.00 price target on shares of Prudential Financial in a research note on Thursday, January 11th. Deutsche Bank reduced their price target on shares of Prudential Financial from $132.00 to $125.00 and set a “hold” rating on the stock in a research note on Friday, February 9th. Finally, B. Riley reissued a “buy” rating on shares of Prudential Financial in a research note on Monday, November 6th. Six investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $118.38.
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Prudential Financial Company Profile
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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