Prudential Financial (NYSE:PRU) SVP Timothy Schmidt Sells 8,000 Shares

Prudential Financial, Inc. (NYSE:PRU) SVP Timothy Schmidt sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $107.69, for a total transaction of $861,520.00. Following the sale, the senior vice president directly owned 11,535 shares of the company’s stock, valued at $1,242,204.15. The trade was a 40.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Prudential Financial Trading Down 0.2%

NYSE PRU opened at $107.96 on Wednesday. The company has a market capitalization of $37.79 billion, a price-to-earnings ratio of 14.83, a price-to-earnings-growth ratio of 0.88 and a beta of 0.97. 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, Inc. has a 12 month low of $90.38 and a 12 month high of $128.72. The company’s fifty day moving average price is $104.14 and its two-hundred day moving average price is $104.87.

Prudential Financial (NYSE:PRU) last issued its earnings results on Wednesday, January 15th. The financial services provider reported $3.58 earnings per share (EPS) for the quarter. Prudential Financial had a net margin of 4.65% and a return on equity of 16.98%. The business had revenue of $8.35 billion for the quarter. As a group, research analysts predict that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 11th. Shareholders of record on Tuesday, November 18th will be issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date of this dividend is Tuesday, November 18th. Prudential Financial’s dividend payout ratio (DPR) is currently 74.18%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PRU. Evercore ISI boosted their price target on Prudential Financial from $120.00 to $122.00 and gave the company an “in-line” rating in a report on Thursday, October 30th. Barclays decreased their price objective on shares of Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating for the company in a report on Wednesday, October 8th. Weiss Ratings reissued a “hold (c+)” rating on shares of Prudential Financial in a report on Monday. Keefe, Bruyette & Woods lifted their price target on shares of Prudential Financial from $117.00 to $118.00 and gave the company a “market perform” rating in a report on Monday, November 3rd. Finally, Morgan Stanley boosted their price objective on shares of Prudential Financial from $117.00 to $118.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 7th. One investment analyst has rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $119.50.

Hedge Funds Weigh In On Prudential Financial

Institutional investors have recently modified their holdings of the company. AlphaQuest LLC lifted its position in Prudential Financial by 12,250.0% in the 1st quarter. AlphaQuest LLC now owns 247 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 245 shares during the last quarter. Cheviot Value Management LLC bought a new stake in shares of Prudential Financial during the first quarter valued at approximately $26,000. Clearstead Trust LLC raised its holdings in shares of Prudential Financial by 350.8% during the first quarter. Clearstead Trust LLC now owns 266 shares of the financial services provider’s stock valued at $30,000 after buying an additional 207 shares during the last quarter. Wealth Watch Advisors INC bought a new position in Prudential Financial in the 3rd quarter worth approximately $30,000. Finally, Darwin Wealth Management LLC acquired a new stake in Prudential Financial in the 2nd quarter valued at approximately $36,000. Institutional investors own 56.83% of the company’s stock.

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.