Street Calls of the Week
NEWARK, N.J.—Michael Todman, a director at Prudential Financial Inc. (NYSE:PRU), a $39.5 billion market cap insurance giant with a ’FAIR’ financial health rating according to InvestingPro, recently sold a significant portion of his holdings in the company. According to a recent SEC filing, Mr. Todman sold 2,950 shares of common stock on February 7th, netting approximately $333,291. The shares were sold at a weighted average price of $112.98, with individual transactions occurring at prices ranging from $112.96 to $113.02. The stock, which currently yields an attractive 4.8% dividend and has maintained payments for 24 consecutive years, is currently trading near InvestingPro’s calculated Fair Value.
Following this transaction, Mr. Todman retains direct ownership of 375 shares. Additionally, he holds 1,304 Restricted Stock Units, 12,194 Notional Shares-Mandatory, and 8,877 Notional Shares-Optional. The sale was disclosed in a filing with the Securities and Exchange Commission, signed by Danny Fiore, attorney-in-fact for Mr. Todman. For deeper insights into PRU’s valuation and 8 additional key investment tips, investors can access the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Prudential Financial has experienced a variety of developments. The company has appointed Vicki Walia as its new Chief People Officer, succeeding Lucien Alziari following his retirement. Walia, with her extensive experience in talent management, is expected to steer Prudential (LON:PRU)’s workforce towards new opportunities.
Barclays (LON:BARC) has adjusted the price target for Prudential Financial, raising it slightly to $128. This follows strategic moves by Prudential in Japan, including the establishment of PrismicLife Solutions & Brokerage, a registered insurance broker. Meanwhile, Piper Sandler has revised its price target on Prudential shares to $124, maintaining a neutral rating, following the company’s announcement of a quarter-over-quarter decline in assets under management.
Keefe, Bruyette & Woods have lowered their price target for Prudential shares to $129, maintaining a market perform rating. This follows Prudential’s disclosure of an "immaterial error" in its operating earnings. Evercore ISI has also adjusted its price target for Prudential shares, reducing it from $140 to $137, while maintaining an "In Line" rating, following an accounting restatement announced by Prudential. These are among the recent developments for Prudential Financial.
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