Andrew F. Sullivan Sells 6,000 Shares of Prudential Financial, Inc. (NYSE:PRU) Stock

Prudential Financial, Inc. (NYSE:PRU) EVP Andrew F. Sullivan sold 6,000 shares of the company’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $105.98, for a total transaction of $635,880.00. Following the sale, the executive vice president now directly owns 27,072 shares of the company’s stock, valued at $2,869,090.56. The trade was a 18.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Prudential Financial Stock Performance

Shares of PRU opened at $108.64 on Friday. The stock has a 50-day simple moving average of $114.31 and a 200-day simple moving average of $119.38. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.16 and a current ratio of 0.16. The stock has a market capitalization of $38.89 billion, a PE ratio of 14.54, a PEG ratio of 0.98 and a beta of 1.28. Prudential Financial, Inc. has a 1 year low of $104.45 and a 1 year high of $130.55.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.36 by ($0.40). Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. On average, analysts predict that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th were given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 4.97%. The ex-dividend date was Tuesday, February 18th. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.30. Prudential Financial’s dividend payout ratio (DPR) is 72.29%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Wells Fargo & Company boosted their price target on shares of Prudential Financial from $113.00 to $118.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 19th. Barclays upped their price objective on shares of Prudential Financial from $128.00 to $134.00 and gave the company an “equal weight” rating in a report on Wednesday, February 5th. Piper Sandler dropped their price objective on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. TD Cowen increased their price target on Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a report on Wednesday, November 27th. Finally, BMO Capital Markets initiated coverage on Prudential Financial in a report on Thursday, January 23rd. They set an “underperform” rating and a $101.00 price target for the company. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $126.15.

Institutional Investors Weigh In On Prudential Financial

Several hedge funds and other institutional investors have recently made changes to their positions in PRU. Grove Bank & Trust raised its position in shares of Prudential Financial by 65.9% during the 4th quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 87 shares in the last quarter. Centricity Wealth Management LLC acquired a new stake in shares of Prudential Financial during the 4th quarter worth about $29,000. Ashton Thomas Securities LLC acquired a new stake in shares of Prudential Financial during the 3rd quarter worth about $31,000. CGC Financial Services LLC raised its position in shares of Prudential Financial by 82.1% during the 4th quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 124 shares in the last quarter. Finally, Wingate Wealth Advisors Inc. acquired a new stake in shares of Prudential Financial during the 4th quarter worth about $33,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

About Prudential Financial

Prudential Financial, Inc, together with its subsidiaries, provides insurance, investment management, and other financial products and services in the United States and internationally. It operates through PGIM, Retirement Strategies, Group Insurance, Individual Life, and International Businesses segments.