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

Key Points

• Virginia Retirement Systems ET Al increased its Prudential Financial stake by 36.7% in the fourth quarter, adding 102,700 shares for a total of 382,900 shares valued at about $43.2 million.
• Prudential reported stronger-than-expected quarterly results, with EPS of $3.61 versus estimates of $3.09 and revenue of $15.23 billion beating expectations.
• The company announced a quarterly dividend of $1.40 per share, translating to an annualized yield of about 5.5%, while analysts remain cautious overall with a consensus rating of “Reduce” and a $101 average price target.

VIRGINIA RETIREMENT SYSTEMS ET Al raised its holdings in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 36.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 382,900 shares of the financial services provider's stock after purchasing an additional 102,700 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al owned 0.11% of Prudential Financial worth $43,222,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PRU. Brighton Jones LLC raised its position in Prudential Financial by 3.7% during the 4th quarter. Brighton Jones LLC now owns 3,681 shares of the financial services provider's stock valued at $436,000 after purchasing an additional 133 shares during the last quarter. Empowered Funds LLC grew its holdings in shares of Prudential Financial by 30.5% during the 1st quarter. Empowered Funds LLC now owns 17,690 shares of the financial services provider's stock worth $1,976,000 after acquiring an additional 4,134 shares during the period. Brown Advisory Inc. grew its holdings in shares of Prudential Financial by 3.5% during the 2nd quarter. Brown Advisory Inc. now owns 4,164 shares of the financial services provider's stock worth $447,000 after acquiring an additional 140 shares during the period. AXA S.A. grew its holdings in shares of Prudential Financial by 25.8% during the 2nd quarter. AXA S.A. now owns 56,700 shares of the financial services provider's stock worth $6,092,000 after acquiring an additional 11,630 shares during the period. Finally, NewEdge Advisors LLC grew its holdings in shares of Prudential Financial by 15.1% during the 2nd quarter. NewEdge Advisors LLC now owns 37,277 shares of the financial services provider's stock worth $4,005,000 after acquiring an additional 4,895 shares during the period. Institutional investors own 56.83% of the company's stock.

Prudential Financial News Summary

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

Prudential Financial Stock Performance

Prudential Financial stock 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 company has a market capitalization of $35.60 billion, a P/E ratio of 10.55, a PEG ratio of 1.83 and a beta of 0.86. The stock's 50 day moving average is $96.93 and its 200 day moving average is $104.56. Prudential Financial, Inc. has a twelve month low of $91.89 and a twelve month high of $119.76.

Prudential Financial (NYSE:PRU - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $3.61 earnings per share for the quarter, topping the consensus estimate of $3.09 by $0.52. Prudential Financial had a return on equity of 16.33% and a net margin of 5.83%.The company had revenue of $15.23 billion for the quarter, compared to the consensus estimate of $14.10 billion. During the same quarter in the prior year, the business posted $3.29 EPS. On average, equities research analysts predict that Prudential Financial, Inc. will post 13.72 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 11th. Shareholders of record on Tuesday, May 26th will be paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 5.5%. The ex-dividend date is Tuesday, May 26th. Prudential Financial's dividend payout ratio (DPR) is currently 57.61%.

Insider Buying and Selling

In other Prudential Financial news, Director Thomas D. Stoddard bought 250 shares of the business'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 purchase, the director owned 250 shares in the company, valued at approximately $25,742.50. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.05% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Evercore reiterated a "negative" rating on shares of Prudential Financial in a report on Friday, March 6th. JPMorgan Chase & Co. reduced their target price on Prudential Financial from $133.00 to $127.00 and set a "neutral" rating on the stock in a report on Wednesday, February 4th. Piper Sandler upped their target price on Prudential Financial from $99.00 to $105.00 and gave the stock a "neutral" rating in a report on Monday. Bank of America reduced their target price on Prudential Financial from $112.00 to $104.00 and set a "neutral" rating on the stock in a report on Tuesday, April 14th. Finally, Zacks Research downgraded Prudential Financial from a "hold" rating to a "strong sell" rating in a research note on Wednesday, April 29th. Nine investment analysts have rated the stock with a Hold rating and six have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Reduce" and a consensus price target 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.

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