Prudential Financial (NYSE:PRU) Shares Gap Down – Here’s Why

Shares of Prudential Financial, Inc. (NYSE:PRU) gapped down before the market opened on Thursday . The stock had previously closed at $120.06, but opened at $116.00. Prudential Financial shares last traded at $115.89, with a volume of 194,752 shares trading hands.

Analyst Ratings Changes

Several equities analysts recently weighed in on PRU shares. Wells Fargo & Company lowered their target price on Prudential Financial from $117.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Jefferies Financial Group lifted their price target on shares of Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. TD Cowen increased their price objective on shares of Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a research note on Wednesday, November 27th. Bank of America upped their target price on shares of Prudential Financial from $109.00 to $118.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Finally, Barclays boosted their price objective on Prudential Financial from $119.00 to $129.00 and gave the company an “equal weight” rating in a research report on Monday, January 6th. Eleven equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $127.00.

Prudential Financial Stock Down 2.2 %

The company has a market capitalization of $41.78 billion, a P/E ratio of 10.43, a PEG ratio of 0.75 and a beta of 1.31. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.60. The company has a 50 day simple moving average of $122.38 and a two-hundred day simple moving average of $120.67.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $3.48 EPS for the quarter, topping the consensus estimate of $3.47 by $0.01. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. The company had revenue of $19.48 billion during the quarter, compared to analyst estimates of $14.57 billion. During the same period in the previous year, the firm earned $3.44 earnings per share. As a group, equities analysts predict that Prudential Financial, Inc. will post 13.34 EPS for the current year.

Prudential Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, November 19th were paid a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 4.43%. The ex-dividend date of this dividend was Tuesday, November 19th. Prudential Financial’s payout ratio is currently 46.22%.

Insider Transactions at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential acquired 537,249 shares of Prudential Financial stock in a transaction on Monday, November 25th. The shares were bought at an average cost of $27.92 per share, for a total transaction of $14,999,992.08. Following the acquisition, the insider now directly owns 4,780,293 shares of the company’s stock, valued at $133,465,780.56. This trade represents a 12.66 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Grove Bank & Trust raised its stake in Prudential Financial by 65.9% in the fourth quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock valued at $26,000 after buying an additional 87 shares during the last quarter. Joule Financial LLC increased its stake in shares of Prudential Financial by 3.6% in the fourth quarter. Joule Financial LLC now owns 8,398 shares of the financial services provider’s stock worth $995,000 after acquiring an additional 293 shares during the period. Aaron Wealth Advisors LLC lifted its position in Prudential Financial by 20.7% during the fourth quarter. Aaron Wealth Advisors LLC now owns 3,518 shares of the financial services provider’s stock valued at $417,000 after purchasing an additional 604 shares during the period. HB Wealth Management LLC grew its position in Prudential Financial by 52.0% during the 4th quarter. HB Wealth Management LLC now owns 11,959 shares of the financial services provider’s stock worth $1,418,000 after purchasing an additional 4,093 shares during the period. Finally, Trust Co. of Vermont lifted its holdings in shares of Prudential Financial by 62.7% in the 4th quarter. Trust Co. of Vermont now owns 1,484 shares of the financial services provider’s stock valued at $176,000 after buying an additional 572 shares during the period. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Prudential Financial Company Profile

Prudential Financial, Inc, together with its subsidiaries, provides insurance, investment management, and other financial products and services in the United States and internationally. It operates through PGIM, Retirement Strategies, Group Insurance, Individual Life, and International Businesses segments.