Prudential Financial, Inc. (NYSE:PRU) EVP Andrew F. Sullivan Sells 4,126 Shares

Prudential Financial, Inc. (NYSE:PRU – Get Rating) EVP Andrew F. Sullivan sold 4,126 shares of Prudential Financial stock in a transaction that occurred on Friday, March 3rd. The shares were sold at an average price of $99.20, for a total value of $409,299.20. Following the sale, the executive vice president now owns 12,241 shares in the company, valued at $1,214,307.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Prudential Financial Stock Performance

Shares of PRU opened at $98.56 on Tuesday. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 1.16. The business has a 50-day simple moving average of $100.79 and a two-hundred day simple moving average of $99.72. The stock has a market cap of $36.07 billion, a price-to-earnings ratio of -25.02, a PEG ratio of 0.66 and a beta of 1.41. Prudential Financial, Inc. has a 52 week low of $85.46 and a 52 week high of $122.54.

Prudential Financial (NYSE:PRU – Get Rating) last released its quarterly earnings data on Tuesday, February 7th. The financial services provider reported $2.42 earnings per share for the quarter, missing analysts’ consensus estimates of $2.57 by ($0.15). The business had revenue of $12.65 billion during the quarter, compared to the consensus estimate of $12.78 billion. Prudential Financial had a positive return on equity of 13.31% and a negative net margin of 2.33%. During the same period last year, the company earned $3.18 EPS. On average, analysts expect that Prudential Financial, Inc. will post 12.2 EPS for the current year.

Prudential Financial declared that its Board of Directors has approved a share repurchase plan on Tuesday, February 7th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the financial services provider to repurchase up to 2.6% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Prudential Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 16th. Investors of record on Tuesday, February 21st will be paid a dividend of $1.25 per share. The ex-dividend date is Friday, February 17th. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.20. This represents a $5.00 dividend on an annualized basis and a yield of 5.07%. Prudential Financial’s dividend payout ratio is presently -126.90%.

Wall Street Analyst Weigh In

PRU has been the topic of several research reports. Citigroup lifted their price target on Prudential Financial from $98.00 to $105.00 in a research report on Wednesday, November 16th. Royal Bank of Canada reissued a “sector perform” rating and issued a $110.00 target price on shares of Prudential Financial in a report on Thursday, February 9th. The Goldman Sachs Group downgraded Prudential Financial from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $98.00 to $96.00 in a report on Monday, January 9th. Piper Sandler reissued a “neutral” rating and issued a $106.00 target price on shares of Prudential Financial in a report on Wednesday, February 8th. Finally, Morgan Stanley boosted their target price on Prudential Financial from $112.00 to $114.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 10th. Four research analysts have rated the stock with a sell rating and nine have given a hold rating to the stock. According to data from MarketBeat.com, Prudential Financial presently has an average rating of “Hold” and a consensus target price of $103.00.

Hedge Funds Weigh In On Prudential Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Fairfield Bush & CO. bought a new stake in shares of Prudential Financial in the 1st quarter valued at approximately $36,000. Blair William & Co. IL lifted its stake in shares of Prudential Financial by 11.3% in the 1st quarter. Blair William & Co. IL now owns 50,600 shares of the financial services provider’s stock valued at $5,979,000 after purchasing an additional 5,126 shares during the last quarter. Sei Investments Co. lifted its stake in shares of Prudential Financial by 6.4% in the 1st quarter. Sei Investments Co. now owns 90,235 shares of the financial services provider’s stock valued at $10,698,000 after purchasing an additional 5,452 shares during the last quarter. Candriam Luxembourg S.C.A. raised its holdings in shares of Prudential Financial by 0.7% in the first quarter. Candriam Luxembourg S.C.A. now owns 47,576 shares of the financial services provider’s stock worth $5,621,000 after buying an additional 326 shares during the period. Finally, Baird Financial Group Inc. raised its holdings in shares of Prudential Financial by 36.4% in the first quarter. Baird Financial Group Inc. now owns 135,716 shares of the financial services provider’s stock worth $16,037,000 after buying an additional 36,184 shares during the period. 56.33% of the stock is owned by institutional investors.

About Prudential Financial

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Prudential Financial, Inc engages in the provision of insurance, investment management, and other financial products and services to both individual and institutional customers. It operates through the following segments: PGIM, U.S. Businesses, International Businesses, Closed Block, and Corporate and Others.