Prudential Financial, Inc. $PRU Shares Purchased by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al grew its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 5.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 280,200 shares of the financial services provider’s stock after purchasing an additional 14,200 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al owned 0.08% of Prudential Financial worth $29,068,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. AlphaQuest LLC grew its position in shares of Prudential Financial by 12,250.0% in the 1st quarter. AlphaQuest LLC now owns 247 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 245 shares in the last quarter. Darwin Wealth Management LLC acquired a new position in Prudential Financial in the second quarter worth $36,000. AlphaCore Capital LLC bought a new stake in Prudential Financial during the second quarter valued at $39,000. Capital A Wealth Management LLC lifted its position in shares of Prudential Financial by 4,600.0% in the 2nd quarter. Capital A Wealth Management LLC now owns 376 shares of the financial services provider’s stock worth $39,000 after buying an additional 368 shares during the last quarter. Finally, Elevation Point Wealth Partners LLC bought a new stake in shares of Prudential Financial during the 2nd quarter valued at about $51,000. 56.83% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently commented on PRU shares. Piper Sandler upped their target price on Prudential Financial from $110.00 to $120.00 and gave the company a “neutral” rating in a report on Tuesday, December 23rd. Mizuho began coverage on Prudential Financial in a research report on Tuesday, December 16th. They issued a “neutral” rating and a $125.00 target price on the stock. Wall Street Zen upgraded Prudential Financial from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Keefe, Bruyette & Woods upped their price target on shares of Prudential Financial from $117.00 to $118.00 and gave the stock a “market perform” rating in a research report on Monday, November 3rd. Finally, Evercore ISI lifted their price objective on shares of Prudential Financial from $120.00 to $122.00 and gave the company an “in-line” rating in a research report on Thursday, October 30th. Eleven research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $118.00.

Prudential Financial Price Performance

Prudential Financial stock opened at $113.66 on Wednesday. Prudential Financial, Inc. has a 52 week low of $90.38 and a 52 week high of $123.88. The firm has a market cap of $39.78 billion, a P/E ratio of 15.61, a P/E/G ratio of 0.92 and a beta of 0.97. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.16 and a current ratio of 0.16. The business’s fifty day moving average is $108.79 and its two-hundred day moving average is $106.27.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $3.58 earnings per share for the quarter. The firm had revenue of $8.35 billion during the quarter. Prudential Financial had a net margin of 4.65% and a return on equity of 16.60%. Equities research analysts forecast that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 11th. Shareholders of record on Tuesday, November 18th were issued a dividend of $1.35 per share. The ex-dividend date was Tuesday, November 18th. This represents a $5.40 dividend on an annualized basis and a yield of 4.8%. Prudential Financial’s dividend payout ratio (DPR) is 74.18%.

Insider Transactions at Prudential Financial

In other Prudential Financial news, EVP Caroline Feeney sold 6,555 shares of Prudential Financial stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $116.28, for a total transaction of $762,215.40. Following the transaction, the executive vice president directly owned 22,523 shares in the company, valued at approximately $2,618,974.44. The trade was a 22.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Charles F. Lowrey sold 48,164 shares of the stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $107.39, for a total value of $5,172,331.96. Following the completion of the sale, the chairman owned 165,564 shares of the company’s stock, valued at $17,779,917.96. This trade represents a 22.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 62,719 shares of company stock worth $6,796,067. 0.25% of the stock is currently owned by company insiders.

Prudential Financial Profile

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential’s long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential’s core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.