Investors Sell Prudential Financial, Inc. (PRU) on Strength (PRU)

Investors sold shares of Prudential Financial, Inc. (NYSE:PRU) on strength during trading on Monday. $24.99 million flowed into the stock on the tick-up and $78.76 million flowed out of the stock on the tick-down, for a money net flow of $53.77 million out of the stock. Of all equities tracked, Prudential Financial had the 20th highest net out-flow for the day. Prudential Financial traded up $0.60 for the day and closed at $103.38

A number of research firms have weighed in on PRU. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $117.00 price objective on shares of Prudential Financial in a research note on Wednesday, September 6th. BidaskClub lowered shares of Prudential Financial from a “buy” rating to a “hold” rating in a research note on Saturday, August 12th. Keefe, Bruyette & Woods reaffirmed a “buy” rating on shares of Prudential Financial in a research note on Friday, August 11th. Wells Fargo & Company reaffirmed a “hold” rating on shares of Prudential Financial in a research note on Thursday, August 3rd. Finally, Zacks Investment Research lowered shares of Prudential Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, June 14th. Ten equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $111.49.

The stock has a 50 day moving average price of $104.74 and a 200-day moving average price of $106.94. The company has a market capitalization of $44.14 billion, a price-to-earnings ratio of 11.54 and a beta of 1.49.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $2.09 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.70 by ($0.61). Prudential Financial had a net margin of 7.15% and a return on equity of 8.98%. The business had revenue of $13.03 billion for the quarter, compared to analysts’ expectations of $12.45 billion. During the same period in the previous year, the company earned $1.84 EPS. Analysts forecast that Prudential Financial, Inc. will post $10.14 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, September 14th. Investors of record on Tuesday, August 22nd were issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 2.90%. The ex-dividend date of this dividend was Friday, August 18th. Prudential Financial’s dividend payout ratio is 33.63%.

In other news, Chairman John R. Strangfeld, Jr. sold 201,585 shares of the stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $110.00, for a total transaction of $22,174,350.00. Following the completion of the transaction, the chairman now directly owns 456,121 shares in the company, valued at approximately $50,173,310. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Nicholas C. Silitch sold 14,897 shares of the stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $110.00, for a total value of $1,638,670.00. Following the transaction, the insider now owns 21,274 shares of the company’s stock, valued at $2,340,140. The disclosure for this sale can be found here. Insiders sold a total of 220,615 shares of company stock valued at $24,276,660 over the last three months. 0.66% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. lifted its position in Prudential Financial by 25.3% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 21,649 shares of the financial services provider’s stock worth $2,341,000 after buying an additional 4,372 shares during the last quarter. Seizert Capital Partners LLC increased its stake in Prudential Financial by 2.2% in the second quarter. Seizert Capital Partners LLC now owns 114,414 shares of the financial services provider’s stock worth $12,373,000 after purchasing an additional 2,421 shares during the period. Pacer Advisors Inc. increased its stake in Prudential Financial by 8.3% in the second quarter. Pacer Advisors Inc. now owns 9,822 shares of the financial services provider’s stock worth $1,062,000 after purchasing an additional 754 shares during the period. Westpac Banking Corp increased its stake in Prudential Financial by 103.7% in the first quarter. Westpac Banking Corp now owns 54,100 shares of the financial services provider’s stock worth $5,100,000 after purchasing an additional 27,536 shares during the period. Finally, Financial Counselors Inc. increased its stake in Prudential Financial by 3.4% in the first quarter. Financial Counselors Inc. now owns 72,807 shares of the financial services provider’s stock worth $7,767,000 after purchasing an additional 2,365 shares during the period. Hedge funds and other institutional investors own 64.45% of the company’s stock.

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Prudential Financial Company Profile

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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