Insider Selling: Mark B. Grier Sells 408,076 Shares of Prudential Financial Stock (PRU)
Prudential Financial (NYSE:PRU) Chairman Mark B. Grier sold 408,076 shares of Prudential Financial stock on the open market in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $89.42, for a total value of $36,490,155.92. Following the completion of the transaction, the chairman now directly owns 278,901 shares in the company, valued at approximately $24,939,327. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Prudential Financial (NYSE:PRU) traded up 0.93% on Thursday, hitting $90.12. 2,952,333 shares of the company’s stock traded hands. Prudential Financial has a 1-year low of $74.10 and a 1-year high of $92.68. The stock has a 50-day moving average of $88.84 and a 200-day moving average of $85.53. The company has a market cap of $41.455 billion and a price-to-earnings ratio of 14.41.
Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $2.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.35 by $0.14. The company had revenue of $11.11 billion for the quarter, compared to the consensus estimate of $11.12 million. During the same quarter in the previous year, the company posted $2.30 earnings per share. The company’s revenue for the quarter was down 5.2% on a year-over-year basis. On average, analysts predict that Prudential Financial will post $9.69 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, September 18th. Investors of record on Tuesday, August 26th will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date is Friday, August 22nd.
A number of research firms have recently commented on PRU. Analysts at Zacks reiterated a “neutral” rating on shares of Prudential Financial in a research note on Wednesday. They now have a $94.00 price target on the stock. Separately, analysts at Raymond James cut their price target on shares of Prudential Financial from $116.00 to $111.00 in a research note on Friday, August 8th. Finally, analysts at Scotia Bank reiterated a “sector perform” rating on shares of Prudential Financial in a research note on Friday, August 8th. They now have a $97.00 price target on the stock, up previously from $95.00. Three investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $100.47.
Prudential Financial, Inc (NYSE:PRU) is a financial services company.
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