Prudential Financial, Inc. (NYSE:PRU) Major Shareholder Prudential Financial Inc Purchases 285,715 Shares

Prudential Financial, Inc. (NYSE:PRUGet Rating) major shareholder Prudential Financial Inc bought 285,715 shares of the business’s stock in a transaction on Thursday, November 17th. The shares were acquired at an average cost of $35.00 per share, for a total transaction of $10,000,025.00. Following the transaction, the insider now directly owns 285,715 shares in the company, valued at approximately $10,000,025. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Prudential Financial Stock Performance

Shares of NYSE PRU opened at $106.98 on Tuesday. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 1.16. Prudential Financial, Inc. has a 12 month low of $85.46 and a 12 month high of $124.22. The company has a 50 day simple moving average of $97.59 and a two-hundred day simple moving average of $98.39. The stock has a market cap of $39.80 billion, a price-to-earnings ratio of 148.58 and a beta of 1.43.

Prudential Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Tuesday, November 22nd will be paid a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 4.49%. The ex-dividend date is Monday, November 21st. Prudential Financial’s payout ratio is 666.67%.

Institutional Trading of Prudential Financial

Institutional investors and hedge funds have recently bought and sold shares of the business. Total Clarity Wealth Management Inc. acquired a new position in shares of Prudential Financial in the 2nd quarter valued at $25,000. Nvwm LLC acquired a new position in shares of Prudential Financial in the 1st quarter valued at $26,000. Wagner Wealth Management LLC acquired a new position in shares of Prudential Financial in the 2nd quarter valued at $26,000. San Luis Wealth Advisors LLC acquired a new position in shares of Prudential Financial in the 1st quarter valued at $31,000. Finally, Pacific Center for Financial Services acquired a new position in shares of Prudential Financial in the 2nd quarter valued at $31,000. 57.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PRU. Barclays cut their price objective on shares of Prudential Financial from $95.00 to $94.00 and set an “equal weight” rating on the stock in a research report on Friday, October 14th. Royal Bank of Canada lifted their price objective on shares of Prudential Financial from $102.00 to $110.00 and gave the stock a “sector perform” rating in a research report on Thursday, November 3rd. StockNews.com raised shares of Prudential Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, November 2nd. Credit Suisse Group cut their price objective on shares of Prudential Financial to $102.00 in a research report on Thursday, September 29th. Finally, Evercore ISI cut their price objective on shares of Prudential Financial to $90.00 in a research report on Tuesday, August 9th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $103.54.

About Prudential Financial

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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 eight segments: PGIM, Retirement, Group Insurance, Individual Annuities, Individual Life, Assurance IQ, International Businesses, and Closed Block.

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Insider Buying and Selling by Quarter for Prudential Financial (NYSE:PRU)

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