Prudential Financial (NYSE:PRU) EVP Ann Kappler Sells 4,000 Shares

Key Points

• Ann Kappler, Executive Vice President of Prudential Financial, sold 4,000 shares at $109.65 each, totaling approximately $438,600, which reduced her ownership of the stock by 15.68%.
• Prudential Financial's stock price fell by 0.4% to $106.99, following a trading volume that was below its average.
• The company recently announced a quarterly dividend of $1.35 per share, representing a yield of 5.0%, with a payout ratio of 119.73%.

Prudential Financial, Inc. (NYSE:PRU - Get Free Report) EVP Ann Kappler sold 4,000 shares of the business's stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $109.65, for a total transaction of $438,600.00. Following the completion of the transaction, the executive vice president owned 21,506 shares of the company's stock, valued at approximately $2,358,132.90. The trade was a 15.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Prudential Financial Stock Down 0.4%

NYSE PRU traded down $0.42 during mid-day trading on Wednesday, reaching $106.99. The stock had a trading volume of 679,523 shares, compared to its average volume of 1,761,070. Prudential Financial, Inc. has a 1 year low of $90.38 and a 1 year high of $130.55. The stock has a market cap of $37.66 billion, a PE ratio of 23.72, a price-to-earnings-growth ratio of 0.98 and a beta of 1.07. The company has a fifty day moving average price of $105.83 and a 200 day moving average price of $105.74. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.16 and a quick ratio of 0.16.

Prudential Financial (NYSE:PRU - Get Free Report) last posted its earnings results on Wednesday, July 30th. The financial services provider reported $3.58 EPS for the quarter, topping analysts' consensus estimates of $3.22 by $0.36. Prudential Financial had a net margin of 2.75% and a return on equity of 15.80%. The business had revenue of $13.50 billion during the quarter, compared to the consensus estimate of $13.47 billion. During the same quarter in the previous year, the firm posted $3.39 EPS. The firm's revenue was down 2.5% on a year-over-year basis. On average, research analysts expect that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Tuesday, August 19th will be given a dividend of $1.35 per share. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 5.0%. Prudential Financial's payout ratio is presently 119.73%.

Institutional Trading of Prudential Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its position in Prudential Financial by 3.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 20,771 shares of the financial services provider's stock worth $2,320,000 after purchasing an additional 721 shares during the period. Golden State Wealth Management LLC grew its stake in Prudential Financial by 728.4% in the 1st quarter. Golden State Wealth Management LLC now owns 845 shares of the financial services provider's stock worth $94,000 after acquiring an additional 743 shares in the last quarter. HighTower Advisors LLC grew its stake in Prudential Financial by 68.2% in the 1st quarter. HighTower Advisors LLC now owns 110,794 shares of the financial services provider's stock worth $12,373,000 after acquiring an additional 44,937 shares in the last quarter. Exchange Traded Concepts LLC grew its stake in Prudential Financial by 9.7% in the 1st quarter. Exchange Traded Concepts LLC now owns 2,501 shares of the financial services provider's stock worth $279,000 after acquiring an additional 222 shares in the last quarter. Finally, Sound Income Strategies LLC boosted its stake in shares of Prudential Financial by 9.0% during the first quarter. Sound Income Strategies LLC now owns 35,408 shares of the financial services provider's stock valued at $3,954,000 after purchasing an additional 2,913 shares in the last quarter. 56.83% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PRU. Morgan Stanley boosted their price objective on shares of Prudential Financial from $113.00 to $117.00 and gave the company an "equal weight" rating in a research report on Monday, August 18th. Wall Street Zen raised shares of Prudential Financial from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Barclays upped their target price on shares of Prudential Financial from $119.00 to $120.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. Wells Fargo & Company dropped their target price on shares of Prudential Financial from $116.00 to $113.00 and set an "equal weight" rating for the company in a report on Wednesday, July 16th. Finally, UBS Group dropped their target price on shares of Prudential Financial from $122.00 to $110.00 and set a "neutral" rating for the company in a report on Tuesday, May 27th. One equities research analyst has rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $122.08.

Prudential Financial Company Profile

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.

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