Insider Selling: Prudential Financial (NYSE:PRU) EVP Sells $956,576.52 in Stock

Key Points

• Prudential EVP Ann Kappler sold 7,652 shares at an average price of $125.01, totaling $956,576.52 and reducing her direct ownership by 34.69% to 14,407 shares.
• Prudential reported quarterly EPS of $4.08, exceeding analyst estimates of $3.52, while revenue of $14.15 billion fell short of the $14.36 billion consensus.
• The company declared a quarterly dividend of $1.40 per share, equivalent to $5.60 annually and a 4.5% yield; analysts maintain a consensus “Reduce” rating with a $107.77 target price.

Prudential Financial, Inc. (NYSE:PRU - Get Free Report) EVP Ann Kappler sold 7,652 shares of Prudential Financial stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $125.01, for a total transaction of $956,576.52. Following the completion of the sale, the executive vice president directly owned 14,407 shares in the company, valued at approximately $1,801,019.07. The trade was a 34.69% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Prudential Financial Stock Performance

NYSE PRU traded down $0.01 during trading hours on Tuesday, hitting $124.55. 1,324,089 shares of the stock were exchanged, compared to its average volume of 2,134,956. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.62. The company has a market cap of $42.97 billion, a price-to-earnings ratio of 11.28, a price-to-earnings-growth ratio of 2.38 and a beta of 0.84. Prudential Financial, Inc. has a 12-month low of $91.89 and a 12-month high of $127.72. The stock has a 50-day moving average of $115.36 and a 200 day moving average of $105.33.

Prudential Financial (NYSE:PRU - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $4.08 earnings per share for the quarter, beating analysts' consensus estimates of $3.52 by $0.56. The company had revenue of $14.15 billion for the quarter, compared to analyst estimates of $14.36 billion. Prudential Financial had a return on equity of 16.68% and a net margin of 6.51%.During the same quarter in the previous year, the company earned $3.58 EPS. As a group, equities research analysts forecast that Prudential Financial, Inc. will post 14.17 earnings per share for the current year.

Prudential Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Tuesday, August 25th will be issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend is Tuesday, August 25th. Prudential Financial's dividend payout ratio is currently 50.72%.

Institutional Investors Weigh In On Prudential Financial

Large investors have recently added to or reduced their stakes in the business. Keating Financial Advisory Services Inc. grew its position in shares of Prudential Financial by 34.8% in the second quarter. Keating Financial Advisory Services Inc. now owns 395 shares of the financial services provider's stock valued at $43,000 after purchasing an additional 102 shares during the last quarter. Rossby Financial LCC lifted its stake in Prudential Financial by 32.4% in the 4th quarter. Rossby Financial LCC now owns 421 shares of the financial services provider's stock valued at $48,000 after buying an additional 103 shares in the last quarter. TD Private Client Wealth LLC grew its holdings in Prudential Financial by 5.6% during the 4th quarter. TD Private Client Wealth LLC now owns 1,972 shares of the financial services provider's stock valued at $223,000 after buying an additional 104 shares during the last quarter. Western Wealth Management LLC increased its position in Prudential Financial by 1.7% during the fourth quarter. Western Wealth Management LLC now owns 6,215 shares of the financial services provider's stock worth $702,000 after buying an additional 105 shares in the last quarter. Finally, Apella Capital LLC raised its holdings in shares of Prudential Financial by 3.7% in the first quarter. Apella Capital LLC now owns 2,979 shares of the financial services provider's stock worth $303,000 after acquiring an additional 106 shares during the last quarter. 56.83% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on PRU. Wells Fargo & Company raised their target price on Prudential Financial from $100.00 to $103.00 and gave the company an "underweight" rating in a report on Thursday, July 9th. Mizuho increased their price target on shares of Prudential Financial from $101.00 to $109.00 and gave the company a "neutral" rating in a report on Thursday, July 9th. BMO Capital Markets reduced their price objective on shares of Prudential Financial from $91.00 to $87.00 and set an "underperform" rating for the company in a research note on Thursday, April 23rd. Argus downgraded shares of Prudential Financial from a "buy" rating to a "hold" rating in a report on Tuesday, June 9th. Finally, Barclays increased their target price on shares of Prudential Financial from $90.00 to $92.00 and gave the company an "underweight" rating in a report on Tuesday, July 7th. One equities research analyst has rated the stock with a Buy rating, eleven have given a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat, Prudential Financial presently has a consensus rating of "Reduce" and a consensus target price of $107.77.

Prudential Financial Company Profile

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential's long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential's core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.

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