Prudential Financial, Inc. $PRU Position Boosted by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al grew its position in Prudential Financial, Inc. (NYSE:PRU) by 7.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 205,762 shares of the financial services provider’s stock after acquiring an additional 13,600 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Prudential Financial were worth $23,370,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Archer Investment Corp purchased a new position in shares of Prudential Financial in the second quarter valued at $26,000. MADDEN SECURITIES Corp purchased a new stake in Prudential Financial during the third quarter valued at $38,000. Center for Financial Planning Inc. raised its stake in Prudential Financial by 90.4% during the third quarter. Center for Financial Planning Inc. now owns 339 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 161 shares in the last quarter. EFG International AG raised its stake in Prudential Financial by 452.2% during the second quarter. EFG International AG now owns 381 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 312 shares in the last quarter. Finally, Reyes Financial Architecture Inc. bought a new position in Prudential Financial during the third quarter valued at $41,000. 56.83% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Ann Kappler sold 7,652 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $125.01, for a total transaction of $956,576.52. Following the transaction, the executive vice president owned 14,407 shares of the company’s stock, valued at approximately $1,801,019.07. This represents a 34.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.05% of the stock is owned by company insiders.

Prudential Financial Trading Down 0.4%

Shares of PRU opened at $116.35 on Friday. The company’s fifty day simple moving average is $116.96 and its 200-day simple moving average is $108.79. The company has a market cap of $40.14 billion, a P/E ratio of 10.54, a P/E/G ratio of 1.95 and a beta of 0.85. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.62. Prudential Financial, Inc. has a twelve month low of $91.89 and a twelve month high of $127.72.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $4.08 EPS for the quarter, topping analysts’ consensus estimates of $3.52 by $0.56. The firm had revenue of $14.15 billion during the quarter, compared to analysts’ expectations of $14.36 billion. Prudential Financial had a net margin of 6.51% and a return on equity of 16.68%. During the same period in the previous year, the company earned $3.58 EPS. As a group, analysts expect that Prudential Financial, Inc. will post 13.51 EPS for the current year.

Prudential Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Tuesday, August 25th were given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 4.8%. The ex-dividend date was Tuesday, August 25th. Prudential Financial’s payout ratio is 50.72%.

Wall Street Analysts Forecast Growth

PRU has been the subject of a number of recent research reports. Bank of America dropped their price objective on shares of Prudential Financial from $132.00 to $130.00 and set a “neutral” rating for the company in a research note on Monday, October 12th. Weiss Ratings cut shares of Prudential Financial from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, October 14th. Evercore lowered their price target on shares of Prudential Financial from $110.00 to $106.00 in a report on Friday, October 9th. Barclays reduced their price objective on Prudential Financial from $96.00 to $94.00 and set an “underweight” rating on the stock in a research note on Monday, October 19th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on Prudential Financial from $105.00 to $102.00 and set a “hold” rating on the stock in a research report on Friday, October 23rd. Two investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and six have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of $111.27.

About Prudential Financial

Prudential Financial, Inc (NYSE: PRU) is a global financial services company that provides insurance, retirement, investment management and related financial products. Founded in Newark, New Jersey, in 1875, the company serves individuals, businesses and institutional investors through a range of businesses and distribution channels.

In the United States, Prudential offers life insurance, annuities, retirement plans and employee benefits, including group life, disability and dental insurance.