Prudential Financial Inc (NYSE:PRU) CEO Charles F. Lowrey acquired 7,500 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was purchased at an average price of $83.68 per share, for a total transaction of $627,600.00. Following the completion of the acquisition, the chief executive officer now owns 64,263 shares in the company, valued at $5,377,527.84. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink.
Shares of NYSE:PRU opened at $88.22 on Friday. The company has a market cap of $33.85 billion, a P/E ratio of 7.55, a PEG ratio of 0.75 and a beta of 1.55. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.11 and a current ratio of 0.11. Prudential Financial Inc has a one year low of $75.61 and a one year high of $106.64. The business’s 50-day simple moving average is $85.92 and its 200 day simple moving average is $95.52.
Prudential Financial (NYSE:PRU) last announced its earnings results on Wednesday, July 31st. The financial services provider reported $3.14 EPS for the quarter, missing the consensus estimate of $3.22 by ($0.08). The company had revenue of $14.11 billion for the quarter, compared to analysts’ expectations of $13.63 billion. Prudential Financial had a net margin of 6.92% and a return on equity of 9.24%. During the same quarter in the previous year, the business posted $3.01 earnings per share. Analysts predict that Prudential Financial Inc will post 12.4 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Tuesday, August 20th were issued a dividend of $1.00 per share. The ex-dividend date was Monday, August 19th. This represents a $4.00 annualized dividend and a dividend yield of 4.53%. Prudential Financial’s payout ratio is currently 34.22%.
A number of equities analysts have recently commented on the company. UBS Group raised their price objective on Prudential Financial from $83.00 to $84.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. ValuEngine downgraded Prudential Financial from a “sell” rating to a “strong sell” rating in a report on Thursday, August 1st. Barclays set a $108.00 price objective on Prudential Financial and gave the stock a “buy” rating in a report on Monday, August 12th. B. Riley downgraded Prudential Financial from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $122.00 to $100.00 in a report on Thursday, August 1st. Finally, Goldman Sachs Group downgraded Prudential Financial from a “conviction-buy” rating to a “buy” rating and cut their price objective for the stock from $107.00 to $99.00 in a report on Thursday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $101.05.
Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Prudential Financial by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 32,659,263 shares of the financial services provider’s stock valued at $3,298,586,000 after buying an additional 324,451 shares during the period. BlackRock Inc. raised its holdings in shares of Prudential Financial by 6.2% during the 2nd quarter. BlackRock Inc. now owns 31,395,669 shares of the financial services provider’s stock valued at $3,170,962,000 after buying an additional 1,840,652 shares during the period. Northern Trust Corp raised its holdings in shares of Prudential Financial by 0.5% during the 2nd quarter. Northern Trust Corp now owns 5,176,780 shares of the financial services provider’s stock valued at $522,855,000 after buying an additional 27,620 shares during the period. Geode Capital Management LLC raised its holdings in shares of Prudential Financial by 6.8% during the 4th quarter. Geode Capital Management LLC now owns 5,129,191 shares of the financial services provider’s stock valued at $417,519,000 after buying an additional 326,075 shares during the period. Finally, Invesco Ltd. raised its holdings in shares of Prudential Financial by 72.7% during the 2nd quarter. Invesco Ltd. now owns 3,825,999 shares of the financial services provider’s stock valued at $386,426,000 after buying an additional 1,610,600 shares during the period. Institutional investors and hedge funds own 63.57% of the company’s stock.
About Prudential Financial
Prudential Financial, Inc, through its subsidiaries, provides insurance, investment management, and other financial products and services. It operates through PGIM, U.S. Workplace Solutions, U.S. Individual Solutions, and International Insurance divisions. The PGIM division offers an array of asset management and advisory services related to public and private fixed income, public equity and real estate, commercial mortgage origination and servicing, and mutual funds and other retail services to institutional, private, and sub-advisory clients, as well as to insurance company separate accounts, government sponsored entities, and the general account.
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