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 stock was sold at an average price of $108.75, for a total transaction of $4,429,278.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Prudential Financial Inc (NYSE:PRU) traded down $0.84 during midday trading on Thursday, reaching $107.79. 2,177,479 shares of the company’s stock traded hands, compared to its average volume of 2,326,647. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.32. Prudential Financial Inc has a fifty-two week low of $97.88 and a fifty-two week high of $127.14. The stock has a market capitalization of $45,840.00, a price-to-earnings ratio of 9.58, a P/E/G ratio of 1.12 and a beta of 1.49.
Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Wednesday, February 7th. The financial services provider reported $2.69 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 business had revenue of $15.25 billion for the quarter, compared to analyst estimates of $12.87 billion. During the same period in the previous year, the company earned $2.46 earnings per share. analysts forecast that Prudential Financial Inc will post 12.06 EPS for the current year.
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 $0.90 dividend. This is a positive change from Prudential Financial’s previous quarterly dividend of $0.75. This represents a $3.60 annualized dividend and a yield of 3.34%. The ex-dividend date is Tuesday, February 20th. Prudential Financial’s payout ratio is currently 32.00%.
Prudential Financial declared that its board has initiated a stock buyback program on Thursday, December 14th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.
PRU has been the subject of a number of recent research reports. 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. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $127.00 price objective on shares of Prudential Financial in a research note on Thursday, December 21st. Sandler O’Neill reissued a “buy” rating and issued a $134.00 price objective on shares of Prudential Financial in a research note on Thursday, January 11th. ValuEngine raised shares of Prudential Financial from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 31st. Finally, Wells Fargo & Co reissued a “hold” rating and issued a $122.00 price objective on shares of Prudential Financial in a research note on Wednesday, February 7th. Six equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $118.38.
Institutional investors and hedge funds have recently made changes to their positions in the company. Truewealth LLC purchased a new stake in shares of Prudential Financial during the fourth quarter valued at $105,000. Pinnacle Wealth Planning Services Inc. purchased a new stake in shares of Prudential Financial during the fourth quarter valued at $105,000. We Are One Seven LLC purchased a new stake in shares of Prudential Financial during the fourth quarter valued at $111,000. FTB Advisors Inc. grew its holdings in shares of Prudential Financial by 232.2% during the fourth quarter. FTB Advisors Inc. now owns 1,073 shares of the financial services provider’s stock valued at $124,000 after buying an additional 750 shares during the last quarter. Finally, Virtue Capital Management LLC purchased a new stake in shares of Prudential Financial during the fourth quarter valued at $123,000. 63.81% of the stock is currently owned by hedge funds and other institutional investors.
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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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