Insider Buying: Prudential Financial (NYSE:PRU) Director Purchases 250 Shares of Stock

Prudential Financial, Inc. (NYSE:PRU) Director Thomas Stoddard purchased 250 shares of the company’s stock in a transaction on Tuesday, February 17th. The shares were purchased at an average price of $102.97 per share, with a total value of $25,742.50. Following the completion of the purchase, the director directly owned 250 shares of the company’s stock, valued at $25,742.50. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Prudential Financial Trading Up 1.6%

Shares of NYSE PRU traded up $1.60 during midday trading on Wednesday, hitting $104.87. The stock had a trading volume of 531,868 shares, compared to its average volume of 2,231,267. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.58. Prudential Financial, Inc. has a 1-year low of $90.38 and a 1-year high of $119.76. The company has a market capitalization of $36.50 billion, a price-to-earnings ratio of 10.49, a PEG ratio of 1.19 and a beta of 0.97. The company has a fifty day moving average price of $111.57 and a 200 day moving average price of $107.46.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Tuesday, February 3rd. The financial services provider reported $3.30 EPS for the quarter, missing the consensus estimate of $3.37 by ($0.07). The business had revenue of $15.69 billion during the quarter, compared to analysts’ expectations of $14.48 billion. Prudential Financial had a net margin of 6.20% and a return on equity of 16.32%. During the same quarter in the previous year, the business posted $2.96 EPS. On average, analysts predict that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Investors of record on Tuesday, February 17th will be issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 5.3%. The ex-dividend date is Tuesday, February 17th. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.35. Prudential Financial’s dividend payout ratio (DPR) is presently 54.00%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. UBS Group raised their price objective on Prudential Financial from $111.00 to $116.00 and gave the company a “neutral” rating in a research report on Thursday, January 8th. Keefe, Bruyette & Woods raised their target price on Prudential Financial from $117.00 to $118.00 and gave the company a “market perform” rating in a report on Monday, November 3rd. JPMorgan Chase & Co. decreased their price target on Prudential Financial from $133.00 to $127.00 and set a “neutral” rating for the company in a report on Wednesday, February 4th. Wells Fargo & Company lifted their price objective on shares of Prudential Financial from $113.00 to $115.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 13th. Finally, Evercore reduced their target price on shares of Prudential Financial from $122.00 to $110.00 and set an “in-line” rating on the stock in a research report on Thursday, February 5th. One equities research analyst has rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $117.11.

Institutional Trading of Prudential Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in PRU. Jessup Wealth Management Inc bought a new position in Prudential Financial during the 4th quarter valued at $25,000. Salomon & Ludwin LLC lifted its position in shares of Prudential Financial by 98.3% during the fourth quarter. Salomon & Ludwin LLC now owns 230 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 114 shares during the last quarter. Lodestone Wealth Management LLC bought a new stake in Prudential Financial in the fourth quarter valued at about $28,000. Basepoint Wealth LLC acquired a new stake in Prudential Financial during the fourth quarter valued at approximately $30,000. Finally, Coston McIsaac & Partners lifted its holdings in Prudential Financial by 93.4% during the 4th quarter. Coston McIsaac & Partners now owns 265 shares of the financial services provider’s stock worth $29,000 after buying an additional 128 shares during the last quarter. Institutional investors own 56.83% of the company’s stock.

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.