VIRGINIA RETIREMENT SYSTEMS ET Al Purchases 102,700 Shares of Prudential Financial, Inc. $PRU

VIRGINIA RETIREMENT SYSTEMS ET Al grew its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 36.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 382,900 shares of the financial services provider’s stock after acquiring an additional 102,700 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Prudential Financial were worth $43,222,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Summit Global Investments lifted its holdings in shares of Prudential Financial by 71.1% during the 3rd quarter. Summit Global Investments now owns 13,021 shares of the financial services provider’s stock valued at $1,351,000 after buying an additional 5,412 shares during the period. VCI Wealth Management LLC raised its holdings in Prudential Financial by 117.1% in the 4th quarter. VCI Wealth Management LLC now owns 19,292 shares of the financial services provider’s stock worth $2,178,000 after purchasing an additional 10,404 shares during the period. KBC Group NV raised its holdings in Prudential Financial by 94.3% in the 4th quarter. KBC Group NV now owns 157,538 shares of the financial services provider’s stock worth $17,783,000 after purchasing an additional 76,461 shares during the period. Machina Capital S.A.S. bought a new position in Prudential Financial in the 3rd quarter worth $1,285,000. Finally, Varma Mutual Pension Insurance Co raised its holdings in Prudential Financial by 22.0% in the 3rd quarter. Varma Mutual Pension Insurance Co now owns 108,839 shares of the financial services provider’s stock worth $11,291,000 after purchasing an additional 19,600 shares during the period. 56.83% of the stock is owned by institutional investors.

Insider Transactions at Prudential Financial

In related news, Director Thomas D. Stoddard acquired 250 shares of the firm’s stock in a transaction on Tuesday, February 17th. The shares were acquired at an average cost of $102.97 per share, for a total transaction of $25,742.50. Following the completion of the transaction, the director directly owned 250 shares in the company, valued at approximately $25,742.50. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.05% of the stock is currently owned by company insiders.

Prudential Financial Price Performance

NYSE:PRU opened at $102.59 on Wednesday. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.58. The business’s 50-day simple moving average is $96.93 and its two-hundred day simple moving average is $104.56. The stock has a market cap of $35.60 billion, a PE ratio of 10.55, a P/E/G ratio of 1.83 and a beta of 0.86. Prudential Financial, Inc. has a 52 week low of $91.89 and a 52 week high of $119.76.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $3.61 EPS for the quarter, beating analysts’ consensus estimates of $3.09 by $0.52. The business had revenue of $15.23 billion for the quarter, compared to analysts’ expectations of $14.10 billion. Prudential Financial had a return on equity of 16.33% and a net margin of 5.83%.During the same period last year, the firm earned $3.29 earnings per share. As a group, analysts forecast that Prudential Financial, Inc. will post 13.72 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 11th. Shareholders of record on Tuesday, May 26th will be given a dividend of $1.40 per share. The ex-dividend date is Tuesday, May 26th. This represents a $5.60 dividend on an annualized basis and a yield of 5.5%. Prudential Financial’s dividend payout ratio is 57.61%.

Key Prudential Financial News

Here are the key news stories impacting Prudential Financial this week:

• Positive Sentiment: Prudential Financial declared a quarterly dividend of $1.40 per share, signaling ongoing cash generation and supporting the stock’s income appeal. Prudential Financial Declares Quarterly Dividend on Common Stock
• Positive Sentiment: Piper Sandler raised its price target on PRU to $105 from $99, suggesting modest upside and reinforcing a neutral-to-positive view of the shares. Prudential Financial (NYSE:PRU) Price Target Raised to $105.00 at Piper Sandler
• Neutral Sentiment: Wells Fargo also increased its target to $100 from $93, but kept an underweight rating, limiting the bullish takeaway. Wells Fargo price target update
• Neutral Sentiment: Prudential’s annual Benefits & Beyond study highlighted rising medical costs and financial stress among employees, which is more of an industry/consumer trend update than a direct earnings driver. Employees Face Difficult Trade-offs Amid Rising Costs

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. BMO Capital Markets decreased their target price on Prudential Financial from $91.00 to $87.00 and set an “underperform” rating on the stock in a report on Thursday, April 23rd. Morgan Stanley reaffirmed an “underweight” rating and issued a $92.00 target price (down from $106.00) on shares of Prudential Financial in a report on Monday, May 4th. Evercore reaffirmed a “negative” rating on shares of Prudential Financial in a report on Friday, March 6th. UBS Group decreased their target price on Prudential Financial from $105.00 to $98.00 and set a “neutral” rating on the stock in a report on Thursday, April 9th. Finally, Mizuho raised their price target on Prudential Financial from $96.00 to $101.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Nine equities research analysts have rated the stock with a Hold rating and six have issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Reduce” and an average target price of $101.00.

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.