Insider Selling: Prudential Financial Inc (PRU) SVP Sells 16,801 Shares of Stock

Prudential Financial Inc (NYSE:PRU) SVP Barbara Koster sold 16,801 shares of the business’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $115.17, for a total transaction of $1,934,971.17. Following the completion of the sale, the senior vice president now owns 37,327 shares in the company, valued at approximately $4,298,950.59. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Prudential Financial Inc (NYSE PRU) traded up $1.72 during mid-day trading on Thursday, reaching $123.23. 564,815 shares of the company traded hands, compared to its average volume of 1,972,143. Prudential Financial Inc has a 1 year low of $97.88 and a 1 year high of $122.94. The stock has a market cap of $53,040.00, a P/E ratio of 12.42, a price-to-earnings-growth ratio of 1.27 and a beta of 1.55. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.13 and a current ratio of 0.13.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $3.01 EPS for the quarter, topping the Zacks’ consensus estimate of $2.71 by $0.30. The company had revenue of $13.36 billion during the quarter, compared to the consensus estimate of $12.24 billion. Prudential Financial had a net margin of 7.71% and a return on equity of 9.51%. During the same quarter in the prior year, the firm earned $2.66 EPS. research analysts anticipate that Prudential Financial Inc will post 10.48 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, December 14th. Stockholders of record on Monday, November 27th were issued a $0.75 dividend. The ex-dividend date was Friday, November 24th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.43%. Prudential Financial’s dividend payout ratio is presently 30.24%.

Prudential Financial declared that its Board of Directors has initiated a share buyback plan on Thursday, December 14th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Institutional investors and hedge funds have recently made changes to their positions in the company. Fieldpoint Private Securities LLC acquired a new stake in Prudential Financial in the 2nd quarter valued at about $103,000. Grove Bank & Trust grew its stake in Prudential Financial by 507.0% in the 3rd quarter. Grove Bank & Trust now owns 1,129 shares of the financial services provider’s stock valued at $120,000 after acquiring an additional 943 shares during the last quarter. Legacy Advisors LLC acquired a new stake in shares of Prudential Financial during the 3rd quarter worth about $129,000. Zions Bancorporation boosted its stake in shares of Prudential Financial by 44.9% during the 3rd quarter. Zions Bancorporation now owns 1,690 shares of the financial services provider’s stock worth $180,000 after purchasing an additional 524 shares during the last quarter. Finally, Advisory Services Network LLC boosted its stake in shares of Prudential Financial by 128.8% during the 2nd quarter. Advisory Services Network LLC now owns 1,700 shares of the financial services provider’s stock worth $184,000 after purchasing an additional 957 shares during the last quarter. Institutional investors and hedge funds own 64.46% of the company’s stock.

A number of research analysts have issued reports on the stock. Wells Fargo & Co set a $122.00 price target on shares of Prudential Financial and gave the stock a “hold” rating in a report on Thursday, December 14th. Atlantic Securities raised shares of Prudential Financial from a “neutral” rating to an “overweight” rating in a report on Thursday. Morgan Stanley raised their target price on shares of Prudential Financial from $123.00 to $124.00 and gave the stock an “equal weight” rating in a report on Thursday, November 2nd. B. Riley restated a “buy” rating on shares of Prudential Financial in a research report on Monday, November 6th. Finally, Zacks Investment Research upgraded shares of Prudential Financial from a “hold” rating to a “buy” rating and set a $132.00 price target on the stock in a research report on Monday. Seven analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $119.35.

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About Prudential Financial

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.

Insider Buying and Selling by Quarter for Prudential Financial (NYSE:PRU)

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