Prudential Financial, Inc. (NYSE:PRU) EVP Caroline Feeney Sells 1,110 Shares

Prudential Financial, Inc. (NYSE:PRU) EVP Caroline Feeney sold 1,110 shares of Prudential Financial stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total transaction of $133,166.70. Following the transaction, the executive vice president now directly owns 10,175 shares in the company, valued at $1,220,694.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Prudential Financial Stock Down 1.5 %

Shares of Prudential Financial stock opened at $117.78 on Friday. The company has a 50-day moving average of $118.23 and a 200 day moving average of $115.58. Prudential Financial, Inc. has a 1 year low of $87.95 and a 1 year high of $128.52. The firm has a market cap of $42.05 billion, a price-to-earnings ratio of 20.03, a PEG ratio of 0.94 and a beta of 1.30. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.13 and a quick ratio of 0.13.

Prudential Financial (NYSE:PRU) last announced its earnings results on Thursday, August 1st. The financial services provider reported $3.39 earnings per share for the quarter, missing analysts’ consensus estimates of $3.43 by ($0.04). The company had revenue of $13.84 billion for the quarter, compared to analysts’ expectations of $13.78 billion. Prudential Financial had a net margin of 4.86% and a return on equity of 16.00%. As a group, sell-side analysts anticipate that Prudential Financial, Inc. will post 13.33 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Tuesday, August 20th will be paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 4.42%. The ex-dividend date is Tuesday, August 20th. Prudential Financial’s payout ratio is 88.44%.

Hedge Funds Weigh In On Prudential Financial

A number of large investors have recently made changes to their positions in the company. Cullinan Associates Inc. boosted its stake in shares of Prudential Financial by 2,355.0% during the first quarter. Cullinan Associates Inc. now owns 151,598 shares of the financial services provider’s stock valued at $17,798,000 after purchasing an additional 145,423 shares in the last quarter. National Bank of Canada FI raised its stake in shares of Prudential Financial by 44.9% during the 1st quarter. National Bank of Canada FI now owns 230,044 shares of the financial services provider’s stock worth $27,327,000 after buying an additional 71,274 shares during the period. Greenwood Capital Associates LLC acquired a new stake in Prudential Financial in the 4th quarter worth about $1,087,000. Crestline Management LP lifted its holdings in Prudential Financial by 50.0% in the 4th quarter. Crestline Management LP now owns 60,000 shares of the financial services provider’s stock valued at $6,223,000 after purchasing an additional 20,000 shares in the last quarter. Finally, Nomura Holdings Inc. acquired a new position in shares of Prudential Financial during the 4th quarter worth approximately $761,000. 56.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on PRU shares. Morgan Stanley cut their price target on Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating on the stock in a report on Monday, August 19th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $121.00 price objective on shares of Prudential Financial in a research report on Wednesday, August 21st. Argus raised shares of Prudential Financial to a “strong-buy” rating in a report on Thursday, August 8th. Citigroup boosted their target price on shares of Prudential Financial from $104.00 to $120.00 and gave the company a “neutral” rating in a research report on Tuesday, July 23rd. Finally, Jefferies Financial Group lowered their price objective on Prudential Financial from $143.00 to $141.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $119.23.

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.