Prudential Financial, Inc. $PRU Stock: VIRGINIA RETIREMENT SYSTEMS ET Al Grows Position

VIRGINIA RETIREMENT SYSTEMS ET Al raised its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 7.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 205,762 shares of the financial services provider’s stock after purchasing an additional 13,600 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al owned 0.06% of Prudential Financial worth $23,370,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Archer Investment Corp bought a new position in shares of Prudential Financial during the 2nd quarter valued at approximately $26,000. MADDEN SECURITIES Corp bought a new stake in Prudential Financial during the 3rd quarter worth approximately $38,000. Center for Financial Planning Inc. raised its stake in Prudential Financial by 90.4% during the 3rd quarter. Center for Financial Planning Inc. now owns 339 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 161 shares during the period. Reyes Financial Architecture Inc. purchased a new position in Prudential Financial during the third quarter valued at approximately $41,000. Finally, EFG International AG lifted its holdings in Prudential Financial by 452.2% during the second quarter. EFG International AG now owns 381 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 312 shares in the last quarter. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Insider Transactions at Prudential Financial

In other Prudential Financial news, EVP Ann Kappler sold 7,652 shares of the business’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $125.01, for a total value of $956,576.52. Following the sale, the executive vice president owned 14,407 shares in the company, valued at $1,801,019.07. The trade was a 34.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.05% of the company’s stock.

Prudential Financial Trading Down 0.4%

Shares of PRU opened at $116.35 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.16 and a quick ratio of 0.16. Prudential Financial, Inc. has a 1 year low of $91.89 and a 1 year high of $127.72. The company has a 50 day simple moving average of $116.96 and a two-hundred day simple moving average of $108.79. The firm has a market cap of $40.14 billion, a P/E ratio of 10.54, a price-to-earnings-growth ratio of 1.95 and a beta of 0.85.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.52 by $0.56. Prudential Financial had a net margin of 6.51% and a return on equity of 16.68%. The firm had revenue of $14.15 billion for the quarter, compared to analysts’ expectations of $14.36 billion. During the same quarter last year, the business posted $3.58 earnings per share. On average, equities analysts expect that Prudential Financial, Inc. will post 13.51 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Tuesday, August 25th were issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date was Tuesday, August 25th. Prudential Financial’s payout ratio is currently 50.72%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PRU. BMO Capital Markets increased their price objective on shares of Prudential Financial from $90.00 to $120.00 and gave the stock an “underperform” rating in a research note on Friday, August 21st. Piper Sandler lowered their target price on shares of Prudential Financial from $128.00 to $120.00 and set a “neutral” rating on the stock in a research note on Monday, October 12th. Zacks Research downgraded shares of Prudential Financial from a “hold” rating to a “strong sell” rating in a report on Friday, October 23rd. Bank of America cut their price target on Prudential Financial from $132.00 to $130.00 and set a “neutral” rating for the company in a research note on Monday, October 12th. Finally, Jefferies Financial Group decreased their price target on Prudential Financial from $116.00 to $109.00 and set a “buy” rating on the stock in a report on Monday, October 12th. Two equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and six have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $111.27.

Prudential Financial Company Profile

Prudential Financial, Inc (NYSE: PRU) is a global financial services company that provides insurance, retirement, investment management and related financial products. Founded in Newark, New Jersey, in 1875, the company serves individuals, businesses and institutional investors through a range of businesses and distribution channels.

In the United States, Prudential offers life insurance, annuities, retirement plans and employee benefits, including group life, disability and dental insurance.