Prudential Financial Inc (PRU) SVP Barbara Koster Sells 16,801 Shares of Stock
Prudential Financial Inc (NYSE:PRU) SVP Barbara Koster sold 16,801 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $115.17, for a total transaction of $1,934,971.17. Following the completion of the transaction, the senior vice president now directly owns 37,327 shares in the company, valued at $4,298,950.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of Prudential Financial Inc (NYSE:PRU) traded up $1.45 during midday trading on Thursday, hitting $116.94. 248,422 shares of the stock were exchanged, compared to its average volume of 1,828,350. The company has a market capitalization of $50,460.00, a PE ratio of 11.79, a price-to-earnings-growth ratio of 1.24 and a beta of 1.55. Prudential Financial Inc has a 52 week low of $97.88 and a 52 week high of $118.17. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.34.
Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Wednesday, November 1st. The financial services provider reported $3.01 earnings per share for the quarter, topping analysts’ consensus estimates of $2.71 by $0.30. The company had revenue of $13.36 billion for the quarter, compared to analysts’ expectations of $12.24 billion. Prudential Financial had a net margin of 7.71% and a return on equity of 9.51%. During the same period last year, the firm posted $2.66 earnings per share. analysts forecast that Prudential Financial Inc will post 10.44 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, December 14th. Stockholders of record on Monday, November 27th were given a dividend of $0.75 per share. The ex-dividend date was Friday, November 24th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.57%. Prudential Financial’s dividend payout ratio is 30.24%.
Prudential Financial declared that its Board of Directors has authorized a share repurchase program on Thursday, December 14th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.
A number of equities analysts have issued reports on PRU shares. Royal Bank of Canada reaffirmed a “hold” rating and issued a $119.00 price objective on shares of Prudential Financial in a research note on Friday, November 3rd. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $127.00 price objective on shares of Prudential Financial in a research note on Thursday, December 21st. Morgan Stanley raised their price objective on shares of Prudential Financial from $123.00 to $124.00 and gave the company an “equal weight” rating in a research note on Thursday, November 2nd. Goldman Sachs Group started coverage on shares of Prudential Financial in a research note on Wednesday, October 18th. They issued a “neutral” rating and a $114.00 price objective on the stock. Finally, Citigroup raised shares of Prudential Financial from a “neutral” rating to a “buy” rating and set a $103.00 price objective on the stock in a research note on Tuesday, October 17th. Nine analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Prudential Financial presently has an average rating of “Buy” and an average price target of $117.45.
Several hedge funds and other institutional investors have recently made changes to their positions in PRU. APG Asset Management N.V. boosted its position in shares of Prudential Financial by 171.8% during the third quarter. APG Asset Management N.V. now owns 2,704,719 shares of the financial services provider’s stock worth $287,566,000 after purchasing an additional 1,709,699 shares in the last quarter. Janus Henderson Group PLC lifted its position in Prudential Financial by 1,997.1% in the 2nd quarter. Janus Henderson Group PLC now owns 1,204,160 shares of the financial services provider’s stock valued at $130,218,000 after acquiring an additional 1,146,739 shares in the last quarter. BlackRock Inc. lifted its position in Prudential Financial by 2.9% in the 2nd quarter. BlackRock Inc. now owns 33,155,309 shares of the financial services provider’s stock valued at $3,585,415,000 after acquiring an additional 934,352 shares in the last quarter. AJO LP lifted its position in Prudential Financial by 42.8% in the 2nd quarter. AJO LP now owns 2,743,406 shares of the financial services provider’s stock valued at $296,672,000 after acquiring an additional 821,881 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in Prudential Financial by 48.8% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,247,204 shares of the financial services provider’s stock valued at $243,013,000 after acquiring an additional 737,458 shares in the last quarter. 64.46% of the stock is currently owned by institutional investors.
About Prudential Financial
Prudential Financial, Inc, is a financial services company. The Company, through its subsidiaries, offers a range of financial products and services, which includes life insurance, annuities, retirement-related services, mutual funds and investment management. The Company’s operations consists of four divisions, which together encompass seven segments.
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