Insider Selling: Prudential Financial (NYSE:PRU) SVP Sells $338,744.56 in Stock

Key Points

• Prudential SVP Robert Boyle sold 2,794 shares for $338,744.56, reducing his stake by 31.74% to 6,008 shares.
• Prudential reported quarterly EPS of $3.77, beating the $3.33 analyst consensus, while revenue of $14.45 billion fell short of estimates.
• Analyst sentiment was cautious: the stock had an average “Reduce” rating and a $112.40 consensus price target; shares were trading at $123.38 in the report.

Prudential Financial, Inc. (NYSE:PRU - Get Free Report) SVP Robert Boyle sold 2,794 shares of the firm's stock in a transaction that occurred on Friday, November 6th. The stock was sold at an average price of $121.24, for a total transaction of $338,744.56. Following the transaction, the senior vice president owned 6,008 shares of the company's stock, valued at approximately $728,409.92. The trade was a 31.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Prudential Financial Trading Up 1.1%

Shares of NYSE PRU traded up $1.33 during midday trading on Tuesday, reaching $123.38. The stock had a trading volume of 1,555,308 shares, compared to its average volume of 2,018,990. The firm has a market cap of $42.56 billion, a price-to-earnings ratio of 11.23, a price-to-earnings-growth ratio of 2.12 and a beta of 0.85. Prudential Financial, Inc. has a twelve month low of $91.89 and a twelve month high of $128.78. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.16 and a current ratio of 0.17. The company's 50 day moving average price is $117.03 and its 200 day moving average price is $109.03.

Prudential Financial (NYSE:PRU - Get Free Report) last posted its quarterly earnings data on Tuesday, November 3rd. The financial services provider reported $3.77 EPS for the quarter, beating analysts' consensus estimates of $3.33 by $0.44. Prudential Financial had a net margin of 6.75% and a return on equity of 16.38%. The company had revenue of $14.45 billion for the quarter, compared to analyst estimates of $14.66 billion. During the same period in the prior year, the firm posted $4.26 EPS. As a group, sell-side analysts expect that Prudential Financial, Inc. will post 13.54 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on PRU shares. JPMorgan Chase & Co. dropped their target price on shares of Prudential Financial from $127.00 to $124.00 and set a "neutral" rating on the stock in a report on Thursday, October 22nd. TD Cowen decreased their price target on Prudential Financial from $114.00 to $112.00 and set a "hold" rating for the company in a report on Wednesday, October 21st. BMO Capital Markets lifted their price objective on Prudential Financial from $90.00 to $120.00 and gave the stock an "underperform" rating in a research report on Friday, August 21st. Mizuho set a $108.00 price objective on Prudential Financial in a research note on Monday, October 12th. Finally, Jefferies Financial Group dropped their price objective on Prudential Financial from $116.00 to $109.00 and set a "buy" rating on the stock in a research note on Monday, October 12th. Two research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and six have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Reduce" and a consensus target price of $112.40.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Orca Investment Management LLC purchased a new position in Prudential Financial in the second quarter valued at approximately $2,605,000. Jones Financial Companies Lllp grew its holdings in Prudential Financial by 21.3% during the second quarter. Jones Financial Companies Lllp now owns 58,436 shares of the financial services provider's stock valued at $6,325,000 after purchasing an additional 10,257 shares during the period. Envestnet Asset Management Inc. increased its position in Prudential Financial by 2.7% in the second quarter. Envestnet Asset Management Inc. now owns 739,294 shares of the financial services provider's stock worth $79,792,000 after buying an additional 19,451 shares during the last quarter. Raiffeisen Bank International AG increased its position in Prudential Financial by 7.3% in the second quarter. Raiffeisen Bank International AG now owns 91,566 shares of the financial services provider's stock worth $9,999,000 after buying an additional 6,237 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its position in Prudential Financial by 379.8% in the second quarter. Assenagon Asset Management S.A. now owns 619,701 shares of the financial services provider's stock worth $66,884,000 after buying an additional 490,553 shares during the last quarter. 56.83% of the stock is owned by institutional investors and hedge funds.

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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