Prudential Financial, Inc. (NYSE:PRU) SVP Timothy L. Schmidt Sells 5,189 Shares

Prudential Financial, Inc. (NYSE:PRU) SVP Timothy L. Schmidt sold 5,189 shares of Prudential Financial stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $116.58, for a total value of $604,933.62. Following the sale, the senior vice president now directly owns 12,236 shares in the company, valued at approximately $1,426,472.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Prudential Financial Price Performance

NYSE:PRU traded up $1.26 during trading hours on Thursday, hitting $117.95. 1,139,982 shares of the company’s stock traded hands, compared to its average volume of 1,517,118. The firm has a market cap of $42.34 billion, a P/E ratio of 20.03, a P/E/G ratio of 0.83 and a beta of 1.35. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.67. The business’s fifty day simple moving average is $112.48 and its two-hundred day simple moving average is $104.78. Prudential Financial, Inc. has a 52 week low of $77.87 and a 52 week high of $118.69.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $3.12 EPS for the quarter, missing the consensus estimate of $3.16 by ($0.04). Prudential Financial had a net margin of 3.76% and a return on equity of 15.50%. The firm had revenue of $15.01 billion for the quarter, compared to the consensus estimate of $14.50 billion. During the same quarter last year, the company posted $2.66 earnings per share. Prudential Financial’s revenue for the quarter was up 69.9% compared to the same quarter last year. On average, research analysts anticipate that Prudential Financial, Inc. will post 13.36 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Tuesday, May 21st will be paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 4.41%. The ex-dividend date is Monday, May 20th. Prudential Financial’s payout ratio is 88.44%.

Analysts Set New Price Targets

Several research analysts recently weighed in on PRU shares. Wells Fargo & Company upped their price target on Prudential Financial from $100.00 to $106.00 and gave the company an “underweight” rating in a research report on Thursday, April 11th. Raymond James downgraded Prudential Financial from a “strong-buy” rating to a “market perform” rating in a research note on Friday, February 9th. Piper Sandler reduced their price objective on shares of Prudential Financial from $125.00 to $121.00 and set a “neutral” rating for the company in a report on Monday. Morgan Stanley upped their price target on shares of Prudential Financial from $109.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Finally, UBS Group raised their price target on Prudential Financial from $108.00 to $112.00 and gave the stock a “neutral” rating in a research report on Monday, February 12th. Two research analysts have rated the stock with a sell rating and eleven have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $111.08.

Institutional Trading of Prudential Financial

Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Prudential Financial by 13.9% during the fourth quarter. Vanguard Group Inc. now owns 42,292,853 shares of the financial services provider’s stock valued at $4,386,192,000 after purchasing an additional 5,154,865 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Prudential Financial by 9,281.4% in the 4th quarter. International Assets Investment Management LLC now owns 1,368,839 shares of the financial services provider’s stock worth $141,962,000 after purchasing an additional 1,354,248 shares during the period. Norges Bank purchased a new stake in Prudential Financial during the 4th quarter valued at $113,478,000. Dimensional Fund Advisors LP boosted its stake in Prudential Financial by 10.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,000,665 shares of the financial services provider’s stock worth $414,926,000 after buying an additional 388,363 shares during the period. Finally, Adage Capital Partners GP L.L.C. purchased a new stake in shares of Prudential Financial in the third quarter valued at $34,251,000. 56.83% of the stock is currently owned by institutional investors.

About Prudential Financial

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.