Prudential Financial Inc. (NYSE:PRU) EVP Timothy P. Harris sold 6,531 shares of the company’s stock in a transaction dated Wednesday, October 5th. The shares were sold at an average price of $85.00, for a total transaction of $555,135.00. Following the completion of the sale, the executive vice president now directly owns 20,924 shares of the company’s stock, valued at $1,778,540. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.
Shares of Prudential Financial Inc. (NYSE:PRU) opened at 84.53 on Friday. Prudential Financial Inc. has a 12 month low of $57.19 and a 12 month high of $88.77. The company has a market cap of $36.94 billion, a PE ratio of 8.68 and a beta of 1.68. The firm’s 50-day moving average price is $79.77 and its 200-day moving average price is $76.18.
Prudential Financial (NYSE:PRU) last issued its earnings results on Wednesday, August 3rd. The company reported $1.84 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.51 by $0.67. Prudential Financial had a return on equity of 8.11% and a net margin of 8.90%. During the same period in the prior year, the firm posted $2.91 EPS. Equities analysts predict that Prudential Financial Inc. will post ($0.01) EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Tuesday, August 23rd were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date of this dividend was Friday, August 19th. Prudential Financial’s dividend payout ratio (DPR) is currently 28.78%.
A number of institutional investors have recently modified their holdings of PRU. Lazard Asset Management LLC boosted its position in shares of Prudential Financial by 16.9% in the first quarter. Lazard Asset Management LLC now owns 3,116 shares of the company’s stock worth $225,000 after buying an additional 451 shares during the period. RPg Family Wealth Advisory LLC boosted its position in Prudential Financial by 1.5% in the first quarter. RPg Family Wealth Advisory LLC now owns 35,074 shares of the company’s stock valued at $2,533,000 after buying an additional 535 shares during the period. Meeder Asset Management Inc. boosted its position in Prudential Financial by 5.4% in the first quarter. Meeder Asset Management Inc. now owns 69,545 shares of the company’s stock valued at $5,022,000 after buying an additional 3,533 shares during the period. Rafferty Asset Management LLC boosted its position in Prudential Financial by 49.2% in the first quarter. Rafferty Asset Management LLC now owns 59,771 shares of the company’s stock valued at $4,317,000 after buying an additional 19,718 shares during the period. Finally, Pegasus Partners Ltd. acquired a new position in Prudential Financial during the first quarter valued at $511,000. Hedge funds and other institutional investors own 60.62% of the company’s stock.
PRU has been the subject of a number of research analyst reports. Goldman Sachs Group Inc. raised shares of Prudential Financial from a “neutral” rating to a “buy” rating and upped their price target for the company from $80.00 to $93.00 in a report on Friday, September 23rd. Deutsche Bank AG cut their price target on shares of Prudential Financial from $90.00 to $83.00 and set a “buy” rating for the company in a report on Thursday, July 7th. Citigroup Inc. cut their price target on shares of Prudential Financial from $83.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, July 7th. Evercore ISI initiated coverage on shares of Prudential Financial in a report on Wednesday, July 6th. They issued a “hold” rating and a $78.00 price target for the company. Finally, Zacks Investment Research raised shares of Prudential Financial from a “sell” rating to a “hold” rating in a report on Thursday, July 14th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. Prudential Financial presently has a consensus rating of “Buy” and an average price target of $89.33.
About Prudential Financial
Prudential Financial, Inc is a financial services company. The Company, through its subsidiaries and affiliates, provides a range of financial products and services, including life insurance, annuities and investment management. The Company’s divisions include U.S. Retirement Solutions and Investment Management Division; U.S.
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