Capital Management Corp VA Acquires 8,411 Shares of Prudential Financial, Inc. (NYSE:PRU)

Capital Management Corp VA increased its stake in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 11.8% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 79,506 shares of the financial services provider's stock after acquiring an additional 8,411 shares during the period. Prudential Financial comprises approximately 1.5% of Capital Management Corp VA's investment portfolio, making the stock its 28th largest holding. Capital Management Corp VA's holdings in Prudential Financial were worth $8,879,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of PRU. Altman Advisors Inc. increased its position in Prudential Financial by 0.6% during the fourth quarter. Altman Advisors Inc. now owns 16,087 shares of the financial services provider's stock worth $1,907,000 after buying an additional 94 shares during the last quarter. Brown Brothers Harriman & Co. increased its position in Prudential Financial by 7.0% during the fourth quarter. Brown Brothers Harriman & Co. now owns 1,506 shares of the financial services provider's stock worth $179,000 after buying an additional 98 shares during the last quarter. NorthCrest Asset Manangement LLC increased its position in Prudential Financial by 3.8% during the first quarter. NorthCrest Asset Manangement LLC now owns 2,738 shares of the financial services provider's stock worth $306,000 after buying an additional 101 shares during the last quarter. HighPoint Advisor Group LLC increased its position in Prudential Financial by 0.8% during the fourth quarter. HighPoint Advisor Group LLC now owns 12,927 shares of the financial services provider's stock worth $1,443,000 after buying an additional 103 shares during the last quarter. Finally, Providence Capital Advisors LLC increased its position in Prudential Financial by 0.4% during the fourth quarter. Providence Capital Advisors LLC now owns 27,782 shares of the financial services provider's stock worth $3,293,000 after buying an additional 105 shares during the last quarter. Institutional investors own 56.83% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on PRU. Wells Fargo & Company decreased 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. Morgan Stanley cut their target price on Prudential Financial from $117.00 to $113.00 and set an "equal weight" rating for the company in a research note on Monday, July 14th. JPMorgan Chase & Co. increased their price target on Prudential Financial from $126.00 to $136.00 and gave the company a "neutral" rating in a research note on Tuesday, July 8th. Keefe, Bruyette & Woods dropped their price target on Prudential Financial from $120.00 to $117.00 and set a "market perform" rating for the company in a research note on Wednesday, May 7th. Finally, Wall Street Zen downgraded Prudential Financial from a "hold" rating to a "sell" rating in a report on Saturday, July 5th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Prudential Financial currently has an average rating of "Hold" and a consensus price target of $121.62.

Prudential Financial Stock Up 0.2%

NYSE PRU traded up $0.18 during trading hours on Friday, hitting $103.31. The company's stock had a trading volume of 1,314,951 shares, compared to its average volume of 1,663,266. Prudential Financial, Inc. has a 52 week low of $90.38 and a 52 week high of $130.55. The company has a market capitalization of $36.57 billion, a PE ratio of 16.37, a price-to-earnings-growth ratio of 1.02 and a beta of 1.07. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.65. The company's 50-day simple moving average is $105.31 and its two-hundred day simple moving average is $108.40.

Prudential Financial (NYSE:PRU - Get Free Report) last posted its earnings results on Wednesday, April 30th. The financial services provider reported $3.29 EPS for the quarter, topping the consensus estimate of $3.18 by $0.11. Prudential Financial had a net margin of 3.84% and a return on equity of 15.84%. The firm had revenue of $13.61 billion for the quarter, compared to analysts' expectations of $14.76 billion. During the same quarter last year, the firm earned $3.12 EPS. The company's quarterly revenue was down 38.2% compared to the same quarter last year. Research analysts anticipate that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Tuesday, May 20th were paid a $1.35 dividend. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $5.40 dividend on an annualized basis and a yield of 5.23%. Prudential Financial's dividend payout ratio is 85.58%.

Insiders Place Their Bets

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential acquired 1,675,978 shares of Prudential Financial stock in a transaction that occurred on Monday, June 16th. The stock was acquired at an average cost of $28.64 per share, for a total transaction of $48,000,009.92. Following the purchase, the insider owned 3,168,461 shares of the company's stock, valued at approximately $90,744,723.04. This represents a 112.29% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.25% of the company's stock.

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.