Prudential Financial (PRU) Trading Down 5.6%

Prudential Financial Inc (NYSE:PRU) shares fell 5.6% during trading on Monday . The company traded as low as $110.62 and last traded at $110.79. 2,606,426 shares were traded during mid-day trading, an increase of 31% from the average session volume of 1,986,741 shares. The stock had previously closed at $117.33.

A number of research firms have commented on PRU. ValuEngine upgraded shares of Prudential Financial from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, December 5th. B. Riley restated a “buy” rating on shares of Prudential Financial in a research note on Monday, November 6th. Sandler O’Neill restated a “buy” rating and issued a $134.00 price objective on shares of Prudential Financial in a research note on Thursday, January 11th. FBR & Co upgraded shares of Prudential Financial from a “neutral” rating to a “buy” rating and dropped their price objective for the company from $117.00 to $100.00 in a research note on Tuesday, October 10th. Finally, Keefe, Bruyette & Woods restated a “buy” rating and issued a $121.00 price objective on shares of Prudential Financial in a research note on Monday, October 16th. Seven research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $119.35.

The company has a debt-to-equity ratio of 0.34, a current ratio of 0.13 and a quick ratio of 0.13. The stock has a market capitalization of $47,680.00, a P/E ratio of 11.17, a PEG ratio of 1.19 and a beta of 1.49.

Prudential Financial declared that its Board of Directors has initiated a share repurchase program on Thursday, December 14th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the financial services provider to purchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

In other news, EVP Charles F. Lowrey sold 44,630 shares of the business’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $111.91, for a total transaction of $4,994,543.30. Following the transaction, the executive vice president now directly owns 79,354 shares in the company, valued at $8,880,506.14. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Timothy P. Harris sold 10,527 shares of the business’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $115.00, for a total transaction of $1,210,605.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 116,818 shares of company stock worth $13,154,122. Company insiders own 0.66% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Palladium Partners LLC acquired a new position in shares of Prudential Financial during the fourth quarter worth about $288,000. Calton & Associates Inc. purchased a new stake in Prudential Financial during the fourth quarter worth about $285,000. Signature Estate & Investment Advisors LLC boosted its holdings in Prudential Financial by 8.7% during the fourth quarter. Signature Estate & Investment Advisors LLC now owns 19,020 shares of the financial services provider’s stock worth $2,187,000 after buying an additional 1,529 shares in the last quarter. Bray Capital Advisors boosted its holdings in Prudential Financial by 144.7% during the fourth quarter. Bray Capital Advisors now owns 18,194 shares of the financial services provider’s stock worth $2,092,000 after buying an additional 10,759 shares in the last quarter. Finally, RKL Wealth Management LLC boosted its holdings in Prudential Financial by 6.8% during the fourth quarter. RKL Wealth Management LLC now owns 10,624 shares of the financial services provider’s stock worth $1,223,000 after buying an additional 674 shares in the last quarter. Institutional investors and hedge funds own 64.35% of the company’s stock.

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About Prudential Financial

Prudential Financial, Inc, is a financial services company. The Company, through its subsidiaries, offers a range of financial products and services, which includes life insurance, annuities, retirement-related services, mutual funds and investment management. The Company’s operations consists of four divisions, which together encompass seven segments.

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