Insurance Co Of Ame Prudential Purchases 87,047 Shares of Prudential Financial, Inc. (NYSE:PRU) Stock

Prudential Financial, Inc. (NYSE:PRU - Get Free Report) major shareholder Insurance Co Of Ame Prudential bought 87,047 shares of the company's stock in a transaction that occurred on Wednesday, March 12th. The shares were bought at an average price of $28.72 per share, for a total transaction of $2,499,989.84. Following the acquisition, the insider now directly owns 87,047 shares of the company's stock, valued at $2,499,989.84. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Large shareholders that own more than 10% of a company's shares are required to disclose their sales and purchases with the SEC.

Prudential Financial Price Performance

Shares of PRU traded down $0.39 during midday trading on Tuesday, hitting $109.90. The company's stock had a trading volume of 546,547 shares, compared to its average volume of 1,747,019. Prudential Financial, Inc. has a one year low of $104.44 and a one year high of $130.55. The company's fifty day simple moving average is $114.15 and its two-hundred day simple moving average is $119.32. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $39.34 billion, a price-to-earnings ratio of 14.71, a price-to-earnings-growth ratio of 0.98 and a beta of 1.28.

Prudential Financial (NYSE:PRU - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.36 by ($0.40). Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. As a group, equities analysts expect that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Remove Ads

Prudential Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th were paid a $1.35 dividend. This is a positive change from Prudential Financial's previous quarterly dividend of $1.30. The ex-dividend date was Tuesday, February 18th. This represents a $5.40 annualized dividend and a dividend yield of 4.91%. Prudential Financial's dividend payout ratio (DPR) is presently 72.29%.

Wall Street Analysts Forecast Growth

PRU has been the topic of several research analyst reports. Morgan Stanley dropped their price objective on Prudential Financial from $136.00 to $128.00 and set an "equal weight" rating on the stock in a research note on Friday, February 28th. Wells Fargo & Company upped their price objective on Prudential Financial from $113.00 to $118.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 19th. BMO Capital Markets initiated coverage on Prudential Financial in a research note on Thursday, January 23rd. They issued an "underperform" rating and a $101.00 price objective on the stock. Keefe, Bruyette & Woods decreased their target price on Prudential Financial from $129.00 to $125.00 and set a "market perform" rating on the stock in a research report on Wednesday, February 12th. Finally, Barclays upped their target price on Prudential Financial from $128.00 to $134.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $126.15.

Institutional Investors Weigh In On Prudential Financial

Several hedge funds have recently modified their holdings of the company. Savant Capital LLC boosted its holdings in shares of Prudential Financial by 0.6% during the 4th quarter. Savant Capital LLC now owns 14,382 shares of the financial services provider's stock valued at $1,705,000 after acquiring an additional 83 shares in the last quarter. Grove Bank & Trust boosted its holdings in shares of Prudential Financial by 65.9% during the 4th quarter. Grove Bank & Trust now owns 219 shares of the financial services provider's stock valued at $26,000 after acquiring an additional 87 shares in the last quarter. HBK Sorce Advisory LLC boosted its holdings in shares of Prudential Financial by 1.0% during the 4th quarter. HBK Sorce Advisory LLC now owns 9,417 shares of the financial services provider's stock valued at $1,116,000 after acquiring an additional 91 shares in the last quarter. Asset Dedication LLC lifted its holdings in Prudential Financial by 28.4% during the 4th quarter. Asset Dedication LLC now owns 420 shares of the financial services provider's stock worth $50,000 after buying an additional 93 shares during the period. Finally, Altman Advisors Inc. lifted its holdings in Prudential Financial by 0.6% during the 4th quarter. Altman Advisors Inc. now owns 16,087 shares of the financial services provider's stock worth $1,907,000 after buying an additional 94 shares during the period. Institutional investors and hedge funds 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.