Capital Management Corp VA Purchases 4,370 Shares of Prudential Financial, Inc. $PRU

Key Points

• Capital Management Corp VA increased its stake in Prudential Financial by 5.5%, acquiring an additional 4,370 shares during the second quarter, bringing its total holdings to 83,876 shares worth approximately $9.01 million.
• Multiple hedge funds, including Nuveen LLC and Goldman Sachs, have recently made significant adjustments to their positions in Prudential Financial, indicating increased institutional interest in the stock.
• Prudential Financial's stock is trading at approximately $103.68, with analysts giving it an average rating of "Hold" and a consensus target price of $122.27.

Capital Management Corp VA raised its holdings in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 5.5% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 83,876 shares of the financial services provider's stock after acquiring an additional 4,370 shares during the quarter. Prudential Financial makes up 1.5% of Capital Management Corp VA's holdings, making the stock its 27th largest holding. Capital Management Corp VA's holdings in Prudential Financial were worth $9,012,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in PRU. Nuveen LLC purchased a new position in shares of Prudential Financial during the first quarter valued at $90,010,000. Goldman Sachs Group Inc. lifted its position in shares of Prudential Financial by 19.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,206,453 shares of the financial services provider's stock worth $469,777,000 after purchasing an additional 678,028 shares during the period. Amundi boosted its stake in shares of Prudential Financial by 14.1% during the first quarter. Amundi now owns 1,751,633 shares of the financial services provider's stock valued at $183,571,000 after purchasing an additional 216,119 shares in the last quarter. AQR Capital Management LLC increased its holdings in Prudential Financial by 72.8% during the first quarter. AQR Capital Management LLC now owns 424,659 shares of the financial services provider's stock valued at $46,789,000 after buying an additional 178,888 shares during the period. Finally, Invesco Ltd. raised its stake in Prudential Financial by 2.7% in the first quarter. Invesco Ltd. now owns 4,440,003 shares of the financial services provider's stock worth $495,859,000 after buying an additional 116,079 shares in the last quarter. 56.83% of the stock is currently owned by institutional investors.

Insider Transactions at Prudential Financial

In other news, EVP Ann M. Kappler sold 4,000 shares of the stock in a transaction that occurred 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 of the company's stock, valued at $2,358,132.90. This represents a 15.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.25% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PRU. Piper Sandler lowered their price target on shares of Prudential Financial from $109.00 to $108.00 and set a "neutral" rating on the stock in a report on Wednesday, July 16th. Wolfe Research started coverage on Prudential Financial in a research report on Tuesday, September 16th. They set a "peer perform" rating on the stock. Weiss Ratings reiterated a "hold (c)" rating on shares of Prudential Financial in a report on Wednesday, October 8th. Wells Fargo & Company reduced their target price on Prudential Financial from $116.00 to $113.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 16th. Finally, Wall Street Zen raised Prudential Financial from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. One research analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Prudential Financial currently has an average rating of "Hold" and a consensus target price of $122.27.

Prudential Financial Stock Up 2.4%

PRU stock opened at $103.68 on Wednesday. Prudential Financial, Inc. has a one year low of $90.38 and a one year high of $130.55. 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's fifty day moving average is $105.15 and its 200 day moving average is $104.33. The firm has a market cap of $36.50 billion, a PE ratio of 22.99, a P/E/G ratio of 0.90 and a beta of 1.04.

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

Prudential Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 11th. Shareholders of record on Tuesday, August 19th were paid a dividend of $1.35 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $5.40 dividend on an annualized basis and a yield of 5.2%. Prudential Financial's payout ratio is 119.73%.

About Prudential Financial

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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