266,000 Shares in Prudential Financial, Inc. $PRU Acquired by VIRGINIA RETIREMENT SYSTEMS ET Al

Key Points

• The Virginia Retirement Systems ET Al acquired 266,000 shares of Prudential Financial, valued at approximately $28.58 million, representing about 0.08% of the company's stock.
• Insider activity includes EVP Ann M. Kappler selling 4,000 shares for $438,600, resulting in a 15.68% decrease in her holdings.
• Analysts have given Prudential Financial a consensus rating of "Hold", with a price target range between $108.00 and $136.00, suggesting limited growth potential ahead.

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 266,000 shares of the financial services provider's stock, valued at approximately $28,579,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned about 0.08% of Prudential Financial at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Meeder Asset Management Inc. lifted its position in shares of Prudential Financial by 90.2% during the 1st quarter. Meeder Asset Management Inc. now owns 234 shares of the financial services provider's stock worth $26,000 after buying an additional 111 shares during the last quarter. Cheviot Value Management LLC purchased a new stake in shares of Prudential Financial during the 1st quarter worth approximately $26,000. North Capital Inc. purchased a new stake in shares of Prudential Financial during the 1st quarter worth approximately $28,000. AlphaQuest LLC lifted its position in shares of Prudential Financial by 12,250.0% during the 1st quarter. AlphaQuest LLC now owns 247 shares of the financial services provider's stock worth $28,000 after buying an additional 245 shares during the last quarter. Finally, Clearstead Trust LLC lifted its position in shares of Prudential Financial by 350.8% during the 1st quarter. Clearstead Trust LLC now owns 266 shares of the financial services provider's stock worth $30,000 after buying an additional 207 shares during the last quarter. Hedge funds and other institutional investors own 56.83% of the company's stock.

Insider Activity at Prudential Financial

In other news, EVP Ann M. Kappler sold 4,000 shares of the firm's stock in a transaction on Friday, August 29th. The shares were sold at an average price of $109.65, for a total value of $438,600.00. Following the completion of the sale, the executive vice president owned 21,506 shares in the company, valued at approximately $2,358,132.90. This trade represents a 15.68% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.25% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Piper Sandler reduced their price objective on shares of Prudential Financial from $109.00 to $108.00 and set a "neutral" rating for the company in a research report on Wednesday, July 16th. Weiss Ratings reiterated a "hold (c)" rating on shares of Prudential Financial in a research report on Wednesday, October 8th. Barclays decreased their price target on shares of Prudential Financial from $120.00 to $117.00 and set an "equal weight" rating for the company in a research note on Wednesday, October 8th. JPMorgan Chase & Co. raised their price objective on shares of Prudential Financial from $126.00 to $136.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 8th. Finally, Morgan Stanley raised their price objective on shares of Prudential Financial from $117.00 to $118.00 and gave the stock an "equal weight" rating in a research report on Tuesday, October 7th. One equities research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $122.27.

Prudential Financial Stock Up 0.9%

Shares of Prudential Financial stock opened at $100.76 on Monday. Prudential Financial, Inc. has a one year low of $90.38 and a one year high of $130.55. The company has a market cap of $35.47 billion, a P/E ratio of 22.34, a PEG ratio of 0.89 and a beta of 1.04. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.16 and a current ratio of 0.16. The firm has a fifty day moving average of $105.06 and a two-hundred day moving average of $104.10.

Prudential Financial (NYSE:PRU - Get Free Report) last released its earnings results on Wednesday, January 15th. The financial services provider reported $3.58 EPS for the quarter. Prudential Financial had a net margin of 2.75% and a return on equity of 15.80%. The company had revenue of $8.35 billion during the quarter. On average, analysts forecast that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 11th. Stockholders of record on Tuesday, August 19th were paid a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 5.4%. The ex-dividend date was Tuesday, August 19th. Prudential Financial's dividend payout ratio (DPR) is 119.73%.

Prudential Financial Profile

Prudential Financial, Inc, together with its subsidiaries, provides insurance, investment management, and other financial products and services in the United States and internationally. It operates through PGIM, Retirement Strategies, Group Insurance, Individual Life, and International Businesses segments.

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