Prudential Financial, Inc. $PRU Shares Purchased by Capital Management Corp VA

Capital Management Corp VA lifted its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 8.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 90,978 shares of the financial services provider’s stock after buying an additional 7,102 shares during the quarter. Prudential Financial accounts for approximately 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 $9,438,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of PRU. Mattson Financial Services LLC boosted its holdings in shares of Prudential Financial by 312.8% in the 3rd quarter. Mattson Financial Services LLC now owns 12,119 shares of the financial services provider’s stock worth $1,257,000 after purchasing an additional 9,183 shares in the last quarter. First Horizon Corp purchased a new stake in Prudential Financial in the third quarter worth $5,856,000. Econ Financial Services Corp purchased a new stake in Prudential Financial in the second quarter worth about $1,662,000. Capital Advisors Inc. OK boosted its position in shares of Prudential Financial by 28.4% during the third quarter. Capital Advisors Inc. OK now owns 384,404 shares of the financial services provider’s stock valued at $39,878,000 after purchasing an additional 85,072 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund grew its position in shares of Prudential Financial by 31.9% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 40,254 shares of the financial services provider’s stock worth $4,176,000 after buying an additional 9,741 shares during the period. 56.83% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential purchased 1,406,739 shares of Prudential Financial stock in a transaction that occurred on Friday, January 23rd. The stock was bought at an average cost of $24.87 per share, for a total transaction of $34,985,598.93. Following the completion of the transaction, the insider owned 7,709,624 shares in the company, valued at $191,738,348.88. The trade was a 22.32% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Caroline Feeney sold 6,555 shares of Prudential Financial stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $116.28, for a total transaction of $762,215.40. Following the completion of the transaction, the executive vice president directly owned 22,523 shares of the company’s stock, valued at $2,618,974.44. The trade was a 22.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 62,719 shares of company stock valued at $6,796,067 over the last three months. 0.25% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PRU. Keefe, Bruyette & Woods upped their target price on shares of Prudential Financial from $117.00 to $118.00 and gave the stock a “market perform” rating in a research note on Monday, November 3rd. Weiss Ratings upgraded shares of Prudential Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, January 12th. Wall Street Zen cut Prudential Financial from a “buy” rating to a “hold” rating in a research report on Saturday, January 10th. Wells Fargo & Company boosted their price objective on Prudential Financial from $113.00 to $115.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 13th. Finally, Barclays dropped their target price on shares of Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $120.78.

Prudential Financial Trading Up 1.0%

Shares of NYSE PRU opened at $111.00 on Friday. Prudential Financial, Inc. has a twelve month low of $90.38 and a twelve month high of $122.34. The business has a fifty day simple moving average of $112.77 and a two-hundred day simple moving average of $107.35. The firm has a market cap of $38.85 billion, a PE ratio of 15.25, a price-to-earnings-growth ratio of 1.22 and a beta of 0.97. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.58.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Wednesday, October 29th. The financial services provider reported $4.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.72 by $0.54. Prudential Financial had a return on equity of 16.60% and a net margin of 4.65%.The business had revenue of $17.89 billion for the quarter, compared to the consensus estimate of $13.77 billion. During the same period last year, the business posted $3.48 EPS. Analysts expect that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 11th. Stockholders of record on Tuesday, November 18th were paid a dividend of $1.35 per share. The ex-dividend date was Tuesday, November 18th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.9%. Prudential Financial’s payout ratio is presently 74.18%.

Prudential Financial Company 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.