Joseph Wolk Purchases 400 Shares of Prudential Financial (NYSE:PRU) Stock

Prudential Financial, Inc. (NYSE:PRU) Director Joseph Wolk acquired 400 shares of the company’s stock in a transaction that occurred on Wednesday, February 11th. The stock was purchased at an average price of $105.32 per share, for a total transaction of $42,128.00. Following the acquisition, the director directly owned 400 shares of the company’s stock, valued at $42,128. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.

Prudential Financial Stock Down 1.1%

NYSE PRU traded down $1.12 during trading on Thursday, hitting $104.14. 476,621 shares of the company traded hands, compared to its average volume of 2,227,110. Prudential Financial, Inc. has a 12 month low of $90.38 and a 12 month high of $119.76. The business has a fifty day simple moving average of $112.14 and a 200 day simple moving average of $107.38. The company has a market capitalization of $36.45 billion, a P/E ratio of 10.39, a PEG ratio of 1.17 and a beta of 0.97. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.58.

Prudential Financial (NYSE:PRU) last announced its earnings results on Tuesday, February 3rd. The financial services provider reported $3.30 EPS for the quarter, missing the consensus estimate of $3.37 by ($0.07). The firm had revenue of $14.52 billion during the quarter, compared to the consensus estimate of $14.48 billion. Prudential Financial had a return on equity of 16.32% and a net margin of 6.20%.During the same quarter last year, the business earned $2.96 EPS. As a group, sell-side analysts predict that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 12th. Shareholders of record on Tuesday, February 17th will be given a $1.40 dividend. The ex-dividend date is Tuesday, February 17th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 5.4%. This is an increase from Prudential Financial’s previous quarterly dividend of $1.35. Prudential Financial’s dividend payout ratio is 54.00%.

Analysts Set New Price Targets

PRU has been the topic of a number of analyst reports. Mizuho lowered their target price on shares of Prudential Financial from $126.00 to $113.00 and set a “neutral” rating on the stock in a research note on Tuesday. UBS Group increased their target price on Prudential Financial from $111.00 to $116.00 and gave the stock a “neutral” rating in a report on Thursday, January 8th. Keefe, Bruyette & Woods upped their price target on Prudential Financial from $117.00 to $118.00 and gave the company a “market perform” rating in a research report on Monday, November 3rd. Wall Street Zen cut Prudential Financial from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. Finally, Evercore lowered their target price on shares of Prudential Financial from $122.00 to $110.00 and set an “in-line” rating on the stock in a report on Thursday, February 5th. One investment analyst has rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, Prudential Financial currently has an average rating of “Hold” and an average price target of $117.11.

Hedge Funds Weigh In On Prudential Financial

Several large investors have recently bought and sold shares of the business. Summit Global Investments raised its position in shares of Prudential Financial by 71.1% in the 3rd quarter. Summit Global Investments now owns 13,021 shares of the financial services provider’s stock worth $1,351,000 after acquiring an additional 5,412 shares in the last quarter. Mattson Financial Services LLC increased its holdings in Prudential Financial by 312.8% in the third quarter. Mattson Financial Services LLC now owns 12,119 shares of the financial services provider’s stock worth $1,257,000 after purchasing an additional 9,183 shares in the last quarter. Machina Capital S.A.S. acquired a new position in Prudential Financial in the third quarter valued at approximately $1,285,000. First Horizon Corp acquired a new stake in shares of Prudential Financial during the 3rd quarter worth approximately $5,856,000. Finally, Econ Financial Services Corp acquired a new position in shares of Prudential Financial during the 2nd quarter valued at $1,662,000. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Prudential Financial Company Profile

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential’s long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential’s core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.