Insider Selling: Prudential Financial (NYSE:PRU) CEO Sells 3,544 Shares of Company Stock

Prudential Financial, Inc. (NYSE:PRU – Get Free Report) CEO Andrew Sullivan sold 3,544 shares of Prudential Financial stock in a transaction that occurred on Friday, November 6th. The shares were sold at an average price of $121.32, for a total value of $429,958.08. Following the completion of the sale, the chief executive officer directly owned 50,317 shares in the company, valued at $6,104,458.44. This represents a 6.58% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Prudential Financial Stock Performance

Shares of PRU stock traded up $1.33 during trading hours on Tuesday, reaching $123.38. 1,555,308 shares of the company’s stock were exchanged, compared to its average volume of 2,018,990. The company has a market cap of $42.56 billion, a P/E ratio of 11.23, a price-to-earnings-growth ratio of 2.12 and a beta of 0.85. The company’s 50 day moving average is $117.03 and its two-hundred day moving average is $109.03. Prudential Financial, Inc. has a 1 year low of $91.89 and a 1 year high of $128.78. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.17 and a quick ratio of 0.16.

Prudential Financial (NYSE:PRU – Get Free Report) last posted its quarterly earnings results on Tuesday, November 3rd. The financial services provider reported $3.77 EPS for the quarter, beating the consensus estimate of $3.33 by $0.44. Prudential Financial had a return on equity of 16.38% and a net margin of 6.75%. The business had revenue of $14.45 billion during the quarter, compared to analysts’ expectations of $14.66 billion. During the same period last year, the firm earned $4.26 EPS. Equities research analysts anticipate that Prudential Financial, Inc. will post 13.54 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on PRU shares. Barclays upped their price target on shares of Prudential Financial from $94.00 to $98.00 and gave the stock an “underweight” rating in a research note on Wednesday, November 4th. Wall Street Zen cut shares of Prudential Financial from a “buy” rating to a “hold” rating in a research note on Monday, September 28th. Wells Fargo & Company reduced their price objective on shares of Prudential Financial from $104.00 to $103.00 and set an “underweight” rating for the company in a research note on Wednesday, October 28th. TD Cowen decreased their price objective on shares of Prudential Financial from $114.00 to $112.00 and set a “hold” rating on the stock in a report on Wednesday, October 21st. Finally, Morgan Stanley lowered their target price on shares of Prudential Financial from $105.00 to $100.00 and set an “underweight” rating on the stock in a research report on Monday, October 19th. Two equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and six have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $112.40.

Read Our Latest Analysis on Prudential Financial

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Meeder Asset Management Inc. raised its stake in shares of Prudential Financial by 164.7% during the 3rd quarter. Meeder Asset Management Inc. now owns 225 shares of the financial services provider’s stock worth $26,000 after buying an additional 140 shares during the last quarter. Team Financial Group LLC acquired a new stake in Prudential Financial in the 3rd quarter valued at about $27,000. Archer Investment Corp acquired a new stake in Prudential Financial in the 2nd quarter valued at about $26,000. Heritage Family Offices LLP purchased a new position in Prudential Financial during the 3rd quarter valued at about $33,000. Finally, MADDEN SECURITIES Corp purchased a new position in Prudential Financial during the 3rd quarter valued at about $38,000. Hedge funds and other institutional investors own 56.83% of the company’s stock.

About Prudential Financial

(Get Free Report)

Prudential Financial, Inc. is a financial services company headquartered in Newark, New Jersey. Founded in 1875 as the Prudential Friendly Society, it has grown into a provider of insurance, retirement and investment services. The company offers life insurance, annuities, workplace benefits and retirement-related products and services. Through its asset management businesses, Prudential also serves individual and institutional investors. Prudential serves customers in the United States and operates internationally, with a significant presence in Japan and other markets.

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Insider Buying and Selling by Quarter for Prudential Financial (NYSE:PRU)

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