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.
ILLEGAL ACTIVITY NOTICE: This report was posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this report on another site, it was copied illegally and reposted in violation of international trademark and copyright law. The correct version of this report can be read at https://www.dispatchtribunal.com/2018/01/11/prudential-financial-inc-pru-svp-barbara-koster-sells-16801-shares-of-stock.html.
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.
Receive News & Ratings for Prudential Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prudential Financial and related companies with MarketBeat.com's FREE daily email newsletter.