Prudential Financial (NYSE:PRU) Stock: Insider Andrew Sullivan Sells 3,544 Shares

Prudential Financial, Inc. (NYSE:PRU) CEO Andrew Sullivan sold 3,544 shares of the company’s stock in a transaction dated Friday, November 6th. The shares were sold at an average price of $121.32, for a total transaction of $429,958.08. Following the sale, the chief executive officer owned 50,317 shares of the company’s stock, valued at $6,104,458.44. This trade represents a 6.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Prudential Financial Stock Down 0.2%

Shares of PRU stock opened at $123.00 on Thursday. Prudential Financial, Inc. has a 12 month low of $91.89 and a 12 month high of $128.78. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.66. The firm has a market cap of $42.19 billion, a PE ratio of 8.35, a price-to-earnings-growth ratio of 1.95 and a beta of 0.85. The stock has a 50 day moving average of $117.26 and a 200-day moving average of $109.18.

Prudential Financial (NYSE:PRU) last announced its earnings results on Tuesday, November 3rd. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.33 by $0.44. Prudential Financial had a net margin of 6.75% and a return on equity of 16.38%. The business had revenue of $14.45 billion for the quarter, compared to analyst estimates of $14.66 billion. During the same quarter in the previous year, the firm posted $4.26 earnings per share. On average, equities analysts predict that Prudential Financial, Inc. will post 13.60 EPS for the current year.

Prudential Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Tuesday, November 24th will be given a dividend of $1.40 per share. The ex-dividend date of this dividend is Tuesday, November 24th. This represents a $5.60 dividend on an annualized basis and a yield of 4.6%. Prudential Financial’s dividend payout ratio (DPR) is 50.96%.

Analyst Ratings Changes

PRU has been the subject of several research reports. Wells Fargo & Company reduced their target price on Prudential Financial from $104.00 to $103.00 and set an “underweight” rating for the company in a research report on Wednesday, October 28th. JPMorgan Chase & Co. cut their price target on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a research note on Thursday, October 22nd. Wall Street Zen cut Prudential Financial from a “buy” rating to a “hold” rating in a report on Monday, September 28th. Bank of America reissued a “neutral” rating on shares of Prudential Financial in a report on Wednesday, November 4th. Finally, Weiss Ratings downgraded shares of Prudential Financial from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, October 14th. Two investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and six have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $114.20.

Prudential Financial News Summary

Here’s some of the latest news about PRU:

• Positive Sentiment: Prudential declared a quarterly dividend of $1.40 per share, equivalent to $5.60 annually and a yield of about 4.6%. The dividend supports the stock’s appeal to income-focused investors. Dividend announcement
• Neutral Sentiment: UBS raised its price target from $92 to $125 but maintained a neutral rating. The new target implies only about 1.6% upside from the cited $123 share price, suggesting limited near-term upside in the analyst’s view. UBS rating information
• Negative Sentiment: Three executives sold a combined 9,135 shares on November 6: CEO Andrew Sullivan, EVP Ann Kappler and SVP Robert Boyle. The sales may weigh on sentiment, although the filings do not give the executives’ reasons. Read More.; Read More.; Read More..

Hedge Funds Weigh In On Prudential Financial

Several hedge funds have recently added to or reduced their stakes in PRU. Plimoth Trust Co. LLC grew its position in shares of Prudential Financial by 2.4% during the 2nd quarter. Plimoth Trust Co. LLC now owns 3,860 shares of the financial services provider’s stock worth $417,000 after buying an additional 90 shares during the period. Security National Bank of SO Dak lifted its stake in shares of Prudential Financial by 0.6% in the 2nd quarter. Security National Bank of SO Dak now owns 14,676 shares of the financial services provider’s stock valued at $1,584,000 after purchasing an additional 90 shares during the period. XXI Wealth LLC boosted its position in shares of Prudential Financial by 5.0% in the 3rd quarter. XXI Wealth LLC now owns 1,967 shares of the financial services provider’s stock worth $223,000 after purchasing an additional 93 shares during the last quarter. Prosperitas Financial LLC grew its stake in shares of Prudential Financial by 4.6% during the third quarter. Prosperitas Financial LLC now owns 2,186 shares of the financial services provider’s stock worth $248,000 after purchasing an additional 96 shares during the period. Finally, Focused Wealth Management Inc grew its stake in shares of Prudential Financial by 4.3% during the third quarter. Focused Wealth Management Inc now owns 2,360 shares of the financial services provider’s stock worth $268,000 after purchasing an additional 98 shares during the period. Institutional investors own 56.83% of the company’s stock.

About Prudential Financial

Prudential Financial, Inc. is a financial services company headquartered in Newark, New Jersey. Founded in 1875 as the Prudential Friendly Society, it has grown into a provider of insurance, retirement and investment services. The company offers life insurance, annuities, workplace benefits and retirement-related products and services. Through its asset management businesses, Prudential also serves individual and institutional investors. Prudential serves customers in the United States and operates internationally, with a significant presence in Japan and other markets.