Robert Falzon Sells 9,781 Shares of Prudential Financial Inc. (PRU) Stock
Prudential Financial Inc. (NYSE:PRU) CFO Robert Falzon sold 9,781 shares of the firm’s stock in a transaction on Wednesday, October 5th. The stock was sold at an average price of $85.00, for a total value of $831,385.00. Following the completion of the transaction, the chief financial officer now directly owns 46,550 shares of the company’s stock, valued at $3,956,750. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Robert Falzon also recently made the following trade(s):
- On Monday, August 8th, Robert Falzon sold 33,820 shares of Prudential Financial stock. The stock was sold at an average price of $77.13, for a total value of $2,608,536.60.
Shares of Prudential Financial Inc. (NYSE:PRU) opened at 84.53 on Friday. Prudential Financial Inc. has a 12 month low of $57.19 and a 12 month high of $88.77. The firm has a market capitalization of $36.94 billion, a price-to-earnings ratio of 8.68 and a beta of 1.68. The company has a 50-day moving average price of $79.77 and a 200-day moving average price of $76.18.
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Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $1.84 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.51 by $0.67. Prudential Financial had a net margin of 8.90% and a return on equity of 8.11%. During the same period in the prior year, the company earned $2.91 earnings per share. Equities analysts forecast that Prudential Financial Inc. will post ($0.01) EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Tuesday, August 23rd were paid a $0.70 dividend. The ex-dividend date of this dividend was Friday, August 19th. This represents a $2.80 annualized dividend and a yield of 3.31%. Prudential Financial’s dividend payout ratio (DPR) is presently 28.78%.
Several brokerages recently commented on PRU. Credit Suisse Group AG began coverage on Prudential Financial in a research report on Friday. They issued a “neutral” rating for the company. Wells Fargo & Co. started coverage on Prudential Financial in a research note on Friday, September 23rd. They set a “market perform” rating for the company. Goldman Sachs Group Inc. upgraded Prudential Financial from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $80.00 to $93.00 in a research note on Friday, September 23rd. Zacks Investment Research upgraded Prudential Financial from a “sell” rating to a “hold” rating in a research note on Thursday, July 14th. Finally, Deutsche Bank AG dropped their price objective on Prudential Financial from $90.00 to $83.00 and set a “buy” rating for the company in a research note on Thursday, July 7th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $89.33.
A number of hedge funds have recently added to or reduced their stakes in PRU. Americafirst Capital Management LLC purchased a new stake in Prudential Financial during the second quarter valued at about $100,000. Bessemer Group Inc. increased its stake in Prudential Financial by 6.7% in the second quarter. Bessemer Group Inc. now owns 1,516 shares of the company’s stock worth $108,000 after buying an additional 95 shares during the last quarter. Gierl Augustine Investment Management Inc increased its stake in Prudential Financial by 14.4% in the second quarter. Gierl Augustine Investment Management Inc now owns 1,632 shares of the company’s stock worth $116,000 after buying an additional 206 shares during the last quarter. Cantab Capital Partners LLP bought a new stake in Prudential Financial during the second quarter worth $132,000. Finally, Seven Eight Capital LLC increased its stake in Prudential Financial by 757.0% in the first quarter. Seven Eight Capital LLC now owns 2,151 shares of the company’s stock worth $155,000 after buying an additional 1,900 shares during the last quarter. Institutional investors and hedge funds own 60.62% of the company’s stock.
Prudential Financial Company Profile
Prudential Financial, Inc is a financial services company. The Company, through its subsidiaries and affiliates, provides a range of financial products and services, including life insurance, annuities and investment management. The Company’s divisions include U.S. Retirement Solutions and Investment Management Division; U.S.
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