Insider Selling: Prudential Financial (NYSE:PRU) EVP Sells 2,797 Shares of Stock

Key Points

• EVP Ann Kappler sold 2,797 Prudential Financial shares at an average price of $120.60, totaling about $337,318. After the sale, she held 14,482 shares, a 16.19% reduction in her stake.
• Prudential reported quarterly earnings of $3.77 per share, beating the $3.33 consensus estimate, while revenue of $14.45 billion fell short of estimates.
• Analyst sentiment was cautious: the stock had a consensus “Reduce” rating and an average price target of $112.40, below its reported trading price of $123.38.

Prudential Financial, Inc. (NYSE:PRU - Get Free Report) EVP Ann Kappler sold 2,797 shares of the company's stock in a transaction on Friday, November 6th. The stock was sold at an average price of $120.60, for a total value of $337,318.20. Following the completion of the sale, the executive vice president owned 14,482 shares of the company's stock, valued at $1,746,529.20. This represents a 16.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Prudential Financial Stock Up 1.1%

Shares of Prudential Financial stock traded up $1.33 during trading on Tuesday, hitting $123.38. 1,555,308 shares of the stock traded hands, compared to its average volume of 2,018,990. The firm has a market cap of $42.56 billion, a P/E ratio of 11.23, a price-to-earnings-growth ratio of 2.12 and a beta of 0.85. The company has a current ratio of 0.17, a quick ratio of 0.16 and a debt-to-equity ratio of 0.66. Prudential Financial, Inc. has a 52-week low of $91.89 and a 52-week high of $128.78. The stock's fifty day simple moving average is $117.03 and its 200 day simple moving average is $109.03.

Prudential Financial (NYSE:PRU - Get Free Report) last released its quarterly earnings data on Tuesday, November 3rd. The financial services provider reported $3.77 earnings per share for the quarter, beating the consensus estimate of $3.33 by $0.44. Prudential Financial had a return on equity of 16.38% and a net margin of 6.75%. The firm had revenue of $14.45 billion during the quarter, compared to the consensus estimate of $14.66 billion. During the same period in the previous year, the company posted $4.26 earnings per share. On average, equities analysts predict that Prudential Financial, Inc. will post 13.54 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Prudential Financial

A number of hedge funds have recently made changes to their positions in the stock. Meeder Asset Management Inc. raised its holdings in Prudential Financial by 164.7% in the third quarter. Meeder Asset Management Inc. now owns 225 shares of the financial services provider's stock worth $26,000 after purchasing an additional 140 shares in the last quarter. Voya Investment Management LLC lifted its position in shares of Prudential Financial by 0.6% during the third quarter. Voya Investment Management LLC now owns 69,976 shares of the financial services provider's stock valued at $7,948,000 after buying an additional 386 shares during the last quarter. Bogart Wealth LLC lifted its position in shares of Prudential Financial by 4.9% during the third quarter. Bogart Wealth LLC now owns 3,263 shares of the financial services provider's stock valued at $371,000 after buying an additional 152 shares during the last quarter. Sompo Asset Management Co. Ltd. boosted its holdings in shares of Prudential Financial by 13.9% in the 3rd quarter. Sompo Asset Management Co. Ltd. now owns 10,467 shares of the financial services provider's stock valued at $1,189,000 after buying an additional 1,277 shares in the last quarter. Finally, Edgestream Partners L.P. bought a new stake in shares of Prudential Financial in the 3rd quarter valued at about $423,000. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on PRU. TD Cowen cut their target price on shares of Prudential Financial from $114.00 to $112.00 and set a "hold" rating on the stock in a research report on Wednesday, October 21st. Weiss Ratings cut shares of Prudential Financial from a "buy (b)" rating to a "buy (b-)" rating in a research report on Wednesday, October 14th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Prudential Financial from $105.00 to $102.00 and set a "hold" rating on the stock in a research note on Friday, October 23rd. BMO Capital Markets lifted their price objective on shares of Prudential Financial from $90.00 to $120.00 and gave the company an "underperform" rating in a report on Friday, August 21st. Finally, Wall Street Zen lowered shares of Prudential Financial from a "buy" rating to a "hold" rating in a report on Monday, September 28th. Two research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and six have given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Reduce" and a consensus price target of $112.40.

About Prudential Financial

Prudential Financial, Inc. is a financial services company headquartered in Newark, New Jersey. Founded in 1875 as the Prudential Friendly Society, it has grown into a provider of insurance, retirement and investment services. The company offers life insurance, annuities, workplace benefits and retirement-related products and services. Through its asset management businesses, Prudential also serves individual and institutional investors. Prudential serves customers in the United States and operates internationally, with a significant presence in Japan and other markets.

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