Scott Sleyster Sells 9,379 Shares of Prudential Financial Inc. (PRU) Stock
Prudential Financial Inc. (NYSE:PRU) insider Scott Sleyster sold 9,379 shares of Prudential Financial 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 sale, the insider now directly owns 34,185 shares in the company, valued at approximately $2,907,776.10. The sale was disclosed in a legal filing with the SEC, which is available through this link.
Shares of Prudential Financial Inc. (NYSE:PRU) traded down 0.17% on Tuesday, reaching $84.37. The company’s stock had a trading volume of 1,685,977 shares. The company has a market cap of $36.87 billion, a P/E ratio of 8.67 and a beta of 1.68. The company has a 50 day moving average price of $81.09 and a 200 day moving average price of $76.73. Prudential Financial Inc. has a 52-week low of $57.19 and a 52-week high of $88.77.
Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $1.84 EPS for the quarter, missing the Zacks’ 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 business earned $2.91 earnings per share. On average, analysts anticipate that Prudential Financial Inc. will post ($0.01) earnings per share for the current fiscal year.
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PRU has been the topic of a number of research reports. Bank of America Corp. downgraded Prudential Financial from a “neutral” rating to an “underperform” rating in a research note on Wednesday, June 29th. Wells Fargo & Co. initiated coverage on Prudential Financial in a research note on Friday, September 23rd. They issued a “market perform” rating on the stock. Deutsche Bank AG dropped their price objective on Prudential Financial from $90.00 to $83.00 and set a “buy” rating on the stock in a research note on Thursday, July 7th. Credit Suisse Group AG initiated coverage on Prudential Financial in a research note on Friday, October 7th. They issued a “neutral” rating and a $89.00 price objective on the stock. Finally, FBR & Co downgraded Prudential Financial from an “outperform” rating to a “market perform” rating and set a $86.00 price objective on the stock. in a research note on Tuesday. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Prudential Financial currently has a consensus rating of “Buy” and an average target price of $89.13.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Menta Capital LLC bought a new position in Prudential Financial during the first quarter worth $412,000. OMERS ADMINISTRATION Corp bought a new position in Prudential Financial during the first quarter worth $780,000. BB&T Securities LLC increased its position in Prudential Financial by 1,867.5% in the first quarter. BB&T Securities LLC now owns 58,711 shares of the company’s stock worth $4,240,000 after buying an additional 55,727 shares during the period. Pegasus Partners Ltd. bought a new position in Prudential Financial during the first quarter worth $511,000. Finally, Rafferty Asset Management LLC increased its position in Prudential Financial by 49.2% in the first quarter. Rafferty Asset Management LLC now owns 59,771 shares of the company’s stock worth $4,317,000 after buying an additional 19,718 shares during the period. 60.58% of the stock is currently owned by institutional investors.
About Prudential Financial
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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