Prudential Financial, Inc. (NYSE:PRU) Short Interest Up 14.9% in August

Prudential Financial, Inc. (NYSE:PRU) saw a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 5,330,000 shares, an increase of 14.9% from the August 15th total of 4,640,000 shares. Based on an average trading volume of 1,550,000 shares, the days-to-cover ratio is presently 3.4 days. Currently, 1.5% of the shares of the stock are short sold.

Insider Buying and Selling at Prudential Financial

In other news, EVP Caroline Feeney sold 1,110 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total transaction of $133,166.70. Following the transaction, the executive vice president now directly owns 10,175 shares of the company’s stock, valued at approximately $1,220,694.75. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Prudential Financial news, EVP Ann M. Kappler sold 2,839 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $113.43, for a total transaction of $322,027.77. Following the sale, the executive vice president now directly owns 14,535 shares in the company, valued at $1,648,705.05. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Caroline Feeney sold 1,110 shares of Prudential Financial stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total value of $133,166.70. Following the transaction, the executive vice president now directly owns 10,175 shares of the company’s stock, valued at approximately $1,220,694.75. The disclosure for this sale can be found here. 0.31% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Prudential Financial

Several large investors have recently made changes to their positions in PRU. Gilbert & Cook Inc. lifted its stake in shares of Prudential Financial by 3.5% during the fourth quarter. Gilbert & Cook Inc. now owns 10,226 shares of the financial services provider’s stock worth $1,061,000 after purchasing an additional 344 shares in the last quarter. Avantax Advisory Services Inc. lifted its position in Prudential Financial by 6.9% during the 4th quarter. Avantax Advisory Services Inc. now owns 17,853 shares of the financial services provider’s stock worth $1,852,000 after acquiring an additional 1,151 shares in the last quarter. Meridian Wealth Management LLC purchased a new position in Prudential Financial in the 4th quarter worth approximately $213,000. NorthRock Partners LLC raised its stake in shares of Prudential Financial by 58.7% during the fourth quarter. NorthRock Partners LLC now owns 3,673 shares of the financial services provider’s stock valued at $381,000 after purchasing an additional 1,358 shares during the period. Finally, Kentucky Retirement Systems lifted its position in shares of Prudential Financial by 3.4% during the fourth quarter. Kentucky Retirement Systems now owns 28,884 shares of the financial services provider’s stock worth $2,996,000 after purchasing an additional 959 shares in the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PRU. Barclays initiated coverage on shares of Prudential Financial in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $118.00 price target on the stock. Citigroup increased their target price on Prudential Financial from $104.00 to $120.00 and gave the company a “neutral” rating in a report on Tuesday, July 23rd. UBS Group boosted their price target on Prudential Financial from $112.00 to $119.00 and gave the stock a “neutral” rating in a report on Tuesday, August 13th. Wells Fargo & Company upgraded Prudential Financial from an “underweight” rating to an “equal weight” rating and set a $113.00 price objective on the stock in a research report on Monday, August 12th. Finally, Jefferies Financial Group dropped their price objective on Prudential Financial from $143.00 to $141.00 and set a “buy” rating for the company in a research report on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Prudential Financial presently has a consensus rating of “Hold” and an average target price of $120.83.

Prudential Financial Trading Up 1.3 %

PRU stock traded up $1.48 on Monday, hitting $117.74. 1,318,374 shares of the company were exchanged, compared to its average volume of 1,506,864. The stock has a market capitalization of $42.03 billion, a price-to-earnings ratio of 20.02, a price-to-earnings-growth ratio of 0.90 and a beta of 1.30. The business’s fifty day moving average is $117.90 and its two-hundred day moving average is $116.06. Prudential Financial has a twelve month low of $87.95 and a twelve month high of $128.52. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.13 and a quick ratio of 0.13.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Thursday, August 1st. The financial services provider reported $3.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.43 by ($0.04). The firm had revenue of $13.84 billion for the quarter, compared to analysts’ expectations of $13.78 billion. Prudential Financial had a net margin of 4.86% and a return on equity of 16.00%. As a group, research analysts forecast that Prudential Financial will post 13.31 earnings per share for the current year.

Prudential Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Tuesday, August 20th were given a dividend of $1.30 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $5.20 dividend on an annualized basis and a yield of 4.42%. Prudential Financial’s dividend payout ratio (DPR) is 88.44%.

About Prudential Financial

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.