Investors Buy Prudential Financial, Inc. (PRU) on Weakness After Insider Selling
Traders purchased shares of Prudential Financial, Inc. (NYSE:PRU) on weakness during trading on Tuesday following insider selling activity. $81.44 million flowed into the stock on the tick-up and $23.48 million flowed out of the stock on the tick-down, for a money net flow of $57.96 million into the stock. Of all stocks tracked, Prudential Financial had the 11th highest net in-flow for the day. Prudential Financial traded down ($0.88) for the day and closed at $109.56Specifically, EVP Charles F. Lowrey sold 44,630 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $111.91, for a total value of $4,994,543.30. Following the transaction, the executive vice president now directly owns 79,354 shares of the company’s stock, valued at $8,880,506.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nicholas C. Silitch sold 44,860 shares of the firm’s stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $111.77, for a total value of $5,014,002.20. Following the completion of the transaction, the insider now directly owns 27,927 shares in the company, valued at $3,121,400.79. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by company insiders.
PRU has been the topic of several research reports. B. Riley reaffirmed a “buy” rating on shares of Prudential Financial in a research report on Monday, November 6th. BidaskClub raised Prudential Financial from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. Keefe, Bruyette & Woods reaffirmed a “buy” rating on shares of Prudential Financial in a research report on Friday, August 11th. Wells Fargo & Company reaffirmed a “hold” rating on shares of Prudential Financial in a research report on Thursday, August 3rd. Finally, Zacks Investment Research raised Prudential Financial from a “hold” rating to a “buy” rating and set a $122.00 price objective on the stock in a research report on Tuesday, October 10th. Eight analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $115.13.
The company has a debt-to-equity ratio of 0.34, a current ratio of 0.13 and a quick ratio of 0.13. The firm has a market capitalization of $46,945.28, a P/E ratio of 10.70, a PEG ratio of 1.25 and a beta of 1.56.
Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $3.01 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.71 by $0.30. Prudential Financial had a return on equity of 9.51% and a net margin of 7.71%. The business had revenue of $13.36 billion for the quarter, compared to the consensus estimate of $12.24 billion. During the same quarter in the previous year, the company posted $2.66 EPS. analysts forecast that Prudential Financial, Inc. will post 10.38 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Shareholders of record on Monday, November 27th will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 2.74%. Prudential Financial’s payout ratio is 30.18%.
A number of large investors have recently added to or reduced their stakes in PRU. APG Asset Management N.V. increased its stake in Prudential Financial by 171.8% in the 3rd quarter. APG Asset Management N.V. now owns 2,704,719 shares of the financial services provider’s stock worth $287,566,000 after acquiring an additional 1,709,699 shares during the last quarter. Janus Henderson Group PLC increased its stake 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 worth $130,218,000 after acquiring an additional 1,146,739 shares during the last quarter. BlackRock Inc. increased its position in shares of Prudential Financial by 2.9% during 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 purchasing an additional 934,352 shares during the last quarter. AJO LP increased its position in shares of Prudential Financial by 42.8% during the 2nd quarter. AJO LP now owns 2,743,406 shares of the financial services provider’s stock valued at $296,672,000 after purchasing an additional 821,881 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of Prudential Financial by 48.8% during 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 purchasing an additional 737,458 shares during the last quarter. 64.48% of the stock is currently owned by institutional investors and hedge funds.
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.
Receive News & Ratings for Prudential Financial Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prudential Financial Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.