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Caroline Feeney, Executive Vice President at Prudential Financial Inc. (NYSE:PRU), a $39 billion market cap insurance giant trading at $110.28 per share, recently reported a series of stock purchases totaling $42,364. According to InvestingPro analysis, the company appears slightly overvalued at current levels, with shares acquired at prices ranging from $113.01 to $120.31 each.
The purchases were made inadvertently through a broker-administered dividend reinvestment plan, which reinvests Prudential (LON:PRU)’s attractive 4.87% dividend yield - part of the company’s impressive 16-year streak of dividend increases. Notably, these transactions included an inadvertent purchase of 124.58 shares at $115.90 per share on June 13, 2024, followed by a sale of the same number of shares at $120.03 per share on September 3, 2024. This resulted in a short swing profit of $514.52, which Feeney has disgorged to the company.
Another significant transaction involved the purchase of 129.20 shares at $113.01 per share on September 12, 2024, with subsequent sales of various shares on the same day, leading to a short swing profit of $907.06, also returned to the issuer. Additionally, on December 12, 2024, Feeney acquired 110.75 shares at $120.31 per share.
These transactions have increased Feeney’s direct ownership to 11,409.58 shares, while she also holds an indirect stake of 8,200 shares through a 401(k) plan.
In other recent news, Prudential Financial has reported several significant developments. The company announced the adoption of Workday (NASDAQ:WDAY) Wellness, an AI-powered tool designed to enhance employee benefits, which will streamline data exchange and improve wellness offerings for Group Insurance clients. Additionally, Prudential launched OneLeave, a program aimed at improving absence management by integrating leave and disability management into a unified system for a more efficient experience. In a strategic move, Prudential has appointed Vicki Walia as the new Chief People Officer, succeeding Lucien Alziari, who is retiring after eight years. Prudential also disclosed changes to its executive compensation programs, effective for 2025 awards, aligning leadership incentives with company performance. Furthermore, Kathleen Murphy will step down from the Board of Directors in May 2025, citing other professional commitments. These developments highlight Prudential’s ongoing efforts to optimize its operations and leadership structure.
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