Virtu Financial LLC Takes $771,000 Position in Prudential Financial, Inc. (NYSE:PRU)

Virtu Financial LLC bought a new position in Prudential Financial, Inc. (NYSE:PRU) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 6,506 shares of the financial services provider’s stock, valued at approximately $771,000.

Other large investors have also added to or reduced their stakes in the company. Meridian Wealth Management LLC acquired a new stake in shares of Prudential Financial during the third quarter worth about $280,000. Great Valley Advisor Group Inc. lifted its stake in Prudential Financial by 7.8% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 7,766 shares of the financial services provider’s stock valued at $940,000 after acquiring an additional 559 shares during the period. Cerity Partners LLC boosted its holdings in shares of Prudential Financial by 4.0% in the 3rd quarter. Cerity Partners LLC now owns 130,778 shares of the financial services provider’s stock valued at $15,837,000 after acquiring an additional 5,011 shares during the last quarter. Kingsview Wealth Management LLC raised its holdings in shares of Prudential Financial by 3.5% during the third quarter. Kingsview Wealth Management LLC now owns 7,012 shares of the financial services provider’s stock worth $849,000 after purchasing an additional 237 shares during the last quarter. Finally, Swedbank AB lifted its position in Prudential Financial by 4.2% during the third quarter. Swedbank AB now owns 311,700 shares of the financial services provider’s stock valued at $37,747,000 after purchasing an additional 12,468 shares during the period. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Prudential Financial Stock Performance

NYSE:PRU opened at $113.35 on Tuesday. The company has a market cap of $40.58 billion, a P/E ratio of 15.17, a P/E/G ratio of 0.98 and a beta of 1.28. Prudential Financial, Inc. has a twelve month low of $104.45 and a twelve month high of $130.55. The company’s 50-day moving average price is $113.51 and its 200-day moving average price is $119.00. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.68.

Prudential Financial (NYSE:PRU) last issued its earnings results on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share for the quarter, missing the consensus estimate of $3.36 by ($0.40). Prudential Financial had a return on equity of 15.86% and a net margin of 4.01%. On average, sell-side analysts forecast that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th were given a dividend of $1.35 per share. This is a boost from Prudential Financial’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $5.40 annualized dividend and a dividend yield of 4.76%. Prudential Financial’s payout ratio is presently 72.29%.

Insider Activity at Prudential Financial

In other news, EVP Andrew F. Sullivan sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $105.98, for a total transaction of $635,880.00. Following the completion of the sale, the executive vice president now owns 27,072 shares in the company, valued at $2,869,090.56. This trade represents a 18.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential acquired 87,047 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The stock was acquired at an average price of $28.72 per share, for a total transaction of $2,499,989.84. Following the completion of the acquisition, the insider now directly owns 87,047 shares of the company’s stock, valued at $2,499,989.84. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 0.31% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on PRU shares. Morgan Stanley cut their price target on Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating on the stock in a research report on Friday, February 28th. Keefe, Bruyette & Woods decreased their price target on Prudential Financial from $129.00 to $125.00 and set a “market perform” rating for the company in a report on Wednesday, February 12th. BMO Capital Markets began coverage on shares of Prudential Financial in a research note on Thursday, January 23rd. They set an “underperform” rating and a $101.00 price objective on the stock. TD Cowen boosted their target price on shares of Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a research note on Wednesday, November 27th. Finally, Piper Sandler dropped their price target on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. One investment analyst has 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 company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $126.15.

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.