Investors Buy Prudential Financial Inc. (PRU) on Weakness After Insider Selling
Traders bought shares of Prudential Financial Inc. (NYSE:PRU) on weakness during trading on Tuesday following insider selling activity. $33.42 million flowed into the stock on the tick-up and $22.53 million flowed out of the stock on the tick-down, for a money net flow of $10.89 million into the stock. Of all equities tracked, Prudential Financial had the 25th highest net in-flow for the day. Prudential Financial traded down ($0.14) for the day and closed at $84.37Specifically, insider Scott Sleyster sold 9,379 shares of the stock in a transaction on Friday, October 14th. The shares were sold at an average price of $85.06, for a total value of $797,777.74. Following the transaction, the insider now directly owns 34,185 shares of the company’s stock, valued at approximately $2,907,776.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Sharon C. Taylor sold 85,490 shares of the stock in a transaction on Monday, October 10th. The shares were sold at an average price of $84.99, for a total transaction of $7,265,795.10. Following the completion of the transaction, the senior vice president now directly owns 77,221 shares in the company, valued at $6,563,012.79. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by corporate insiders.
PRU has been the topic of a number of recent analyst reports. Bank of America Corp. downgraded shares of Prudential Financial from a “neutral” rating to an “underperform” rating in a research report on Wednesday, June 29th. Wells Fargo & Co. initiated coverage on shares of Prudential Financial in a research report on Friday, September 23rd. They issued a “market perform” rating on the stock. Deutsche Bank AG dropped their target price on shares of Prudential Financial from $90.00 to $83.00 and set a “buy” rating on the stock in a research report on Thursday, July 7th. Credit Suisse Group AG initiated coverage on shares of Prudential Financial in a research report on Friday, October 7th. They issued a “neutral” rating and a $89.00 target price on the stock. Finally, FBR & Co downgraded shares of Prudential Financial from an “outperform” rating to a “market perform” rating and set a $86.00 target price on the stock. in a research report on Tuesday. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $89.13.
The firm’s 50-day moving average is $81.09 and its 200-day moving average is $76.73. The firm has a market capitalization of $36.87 billion, a PE ratio of 8.67 and a beta of 1.68.
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Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $1.84 EPS for the quarter, missing the consensus estimate of $2.51 by $0.67. Prudential Financial had a return on equity of 8.11% and a net margin of 8.90%. During the same quarter in the prior year, the business posted $2.91 EPS. Analysts anticipate that Prudential Financial Inc. will post ($0.01) earnings per share for the current fiscal year.
A number of large investors have recently bought and sold shares of the company. Americafirst Capital Management LLC bought a new stake in Prudential Financial during the second quarter valued at $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 valued at $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 valued at $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 valued at $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 valued at $155,000 after buying an additional 1,900 shares during the last quarter. 60.58% of the stock is owned by institutional investors and hedge funds.
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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