Prudential Financial Inc (NYSE:PRU) insider Stephen Pelletier sold 40,729 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $108.75, for a total value of $4,429,278.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of Prudential Financial Inc (NYSE:PRU) traded down $0.36 on Friday, reaching $107.43. The company’s stock had a trading volume of 834,984 shares, compared to its average volume of 2,277,795. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.13 and a current ratio of 0.13. Prudential Financial Inc has a one year low of $97.88 and a one year high of $127.14. The firm has a market capitalization of $45,841.86, a price-to-earnings ratio of 6.06, a P/E/G ratio of 1.13 and a beta of 1.50.
Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Wednesday, February 7th. The financial services provider reported $2.69 EPS for the quarter, beating the consensus estimate of $2.64 by $0.05. Prudential Financial had a return on equity of 9.29% and a net margin of 13.41%. The company had revenue of $15.25 billion for the quarter, compared to analyst estimates of $12.87 billion. During the same period last year, the company earned $2.46 earnings per share. analysts anticipate that Prudential Financial Inc will post 12.06 earnings per share for the current fiscal year.
Prudential Financial announced that its Board of Directors has approved a stock repurchase plan on Thursday, December 14th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
The firm also recently disclosed 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 3.35%. The ex-dividend date is Tuesday, February 20th. Prudential Financial’s dividend payout ratio (DPR) is presently 20.10%.
Several research analysts have recently issued reports on PRU shares. Zacks Investment Research upgraded Prudential Financial from a “hold” rating to a “buy” rating and set a $132.00 price objective for the company in a research note on Monday, January 8th. B. Riley reiterated a “buy” rating on shares of Prudential Financial in a research report on Monday, November 6th. Keefe, Bruyette & Woods reiterated a “buy” rating on shares of Prudential Financial in a research report on Friday, November 10th. ValuEngine cut Prudential Financial from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 10th. Finally, Sandler O’Neill reiterated a “buy” rating and set a $134.00 price target on shares of Prudential Financial in a research report on Thursday, January 11th. Six investment 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 has an average rating of “Buy” and a consensus target price of $118.38.
A number of institutional investors and hedge funds have recently modified their holdings of PRU. Pinnacle Wealth Planning Services Inc. acquired a new stake in shares of Prudential Financial in the fourth quarter worth approximately $105,000. Truewealth LLC acquired a new stake in shares of Prudential Financial in the fourth quarter worth approximately $105,000. We Are One Seven LLC acquired a new stake in shares of Prudential Financial in the fourth quarter worth approximately $111,000. Grove Bank & Trust boosted its stake in shares of Prudential Financial by 507.0% in the third quarter. Grove Bank & Trust now owns 1,129 shares of the financial services provider’s stock worth $120,000 after acquiring an additional 943 shares during the last quarter. Finally, Virtue Capital Management LLC acquired a new stake in shares of Prudential Financial in the fourth quarter worth approximately $123,000. 63.81% of the stock is currently owned by institutional investors.
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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.
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