Stock Traders Purchase Large Volume of Prudential Financial Put Options (NYSE:PRU)

Prudential Financial, Inc. (NYSE:PRU) saw unusually large options trading activity on Wednesday. Traders acquired 6,113 put options on the stock. This represents an increase of 162% compared to the average volume of 2,333 put options.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on PRU shares. Keefe, Bruyette & Woods raised their target price on shares of Prudential Financial from $117.00 to $118.00 and gave the company a “market perform” rating in a research note on Monday, November 3rd. Barclays decreased their price objective on shares of Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 8th. Morgan Stanley raised their target price on shares of Prudential Financial from $117.00 to $118.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 7th. Wolfe Research initiated coverage on Prudential Financial in a research note on Tuesday, September 16th. They issued a “peer perform” rating on the stock. Finally, Wall Street Zen raised shares of Prudential Financial from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Ten investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $115.89.

Insider Buying and Selling at Prudential Financial

In related news, Chairman Charles F. Lowrey sold 48,164 shares of the firm’s stock in a transaction on Monday, November 10th. The stock was sold at an average price of $107.39, for a total transaction of $5,172,331.96. Following the sale, the chairman owned 165,564 shares of the company’s stock, valued at approximately $17,779,917.96. This trade represents a 22.54% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Timothy L. Schmidt sold 8,000 shares of the stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $107.69, for a total transaction of $861,520.00. Following the sale, the senior vice president directly owned 11,535 shares of the company’s stock, valued at $1,242,204.15. This represents a 40.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.25% of the stock is owned by insiders.

Institutional Trading of Prudential Financial

Several institutional investors and hedge funds have recently modified their holdings of the stock. Norges Bank bought a new stake in Prudential Financial during the second quarter worth $122,778,000. Nuveen LLC purchased a new position in Prudential Financial during the 1st quarter worth $90,010,000. Vanguard Group Inc. grew its stake in shares of Prudential Financial by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 42,502,160 shares of the financial services provider’s stock worth $4,566,432,000 after acquiring an additional 600,482 shares in the last quarter. Nordea Investment Management AB raised its holdings in shares of Prudential Financial by 49.2% in the second quarter. Nordea Investment Management AB now owns 1,720,781 shares of the financial services provider’s stock valued at $184,192,000 after purchasing an additional 567,571 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of Prudential Financial by 183.3% during the third quarter. Arrowstreet Capital Limited Partnership now owns 804,316 shares of the financial services provider’s stock valued at $83,440,000 after purchasing an additional 520,425 shares in the last quarter. 56.83% of the stock is owned by hedge funds and other institutional investors.

Prudential Financial Trading Up 1.5%

Shares of NYSE:PRU traded up $1.69 during mid-day trading on Wednesday, reaching $113.37. 433,873 shares of the company’s stock were exchanged, compared to its average volume of 1,717,859. The business’s fifty day moving average price is $104.87 and its 200-day moving average price is $105.11. Prudential Financial has a twelve month low of $90.38 and a twelve month high of $123.88. The firm has a market capitalization of $39.68 billion, a price-to-earnings ratio of 15.57, a PEG ratio of 0.91 and a beta of 0.97. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.16 and a current ratio of 0.16.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $3.58 earnings per share for the quarter. The firm had revenue of $8.35 billion during the quarter. Prudential Financial had a return on equity of 16.60% and a net margin of 4.65%. On average, research analysts predict that Prudential Financial will post 14.36 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 11th. Shareholders of record on Tuesday, November 18th will be issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date of this dividend is Tuesday, November 18th. Prudential Financial’s payout ratio is currently 74.18%.

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.