Virtu Financial LLC Acquires Shares of 6,506 Prudential Financial, Inc. (NYSE:PRU)

Virtu Financial LLC bought a new stake in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 6,506 shares of the financial services provider's stock, valued at approximately $771,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quantbot Technologies LP bought a new position in shares of Prudential Financial during the fourth quarter valued at approximately $1,818,000. Sciencast Management LP bought a new stake in Prudential Financial during the 4th quarter valued at $287,000. Summit Global Investments lifted its holdings in shares of Prudential Financial by 2.3% in the 4th quarter. Summit Global Investments now owns 26,045 shares of the financial services provider's stock worth $3,087,000 after buying an additional 574 shares during the period. Mindset Wealth Management LLC raised its holdings in shares of Prudential Financial by 13.5% in the fourth quarter. Mindset Wealth Management LLC now owns 2,525 shares of the financial services provider's stock valued at $299,000 after acquiring an additional 300 shares in the last quarter. Finally, Lee Danner & Bass Inc. purchased a new position in Prudential Financial during the fourth quarter valued at approximately $35,000. 56.83% of the stock is owned by hedge funds and other institutional investors.

Prudential Financial Price Performance

PRU stock traded down $4.48 during mid-day trading on Friday, reaching $109.94. The company's stock had a trading volume of 2,326,712 shares, compared to its average volume of 1,538,417. 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, Inc. has a fifty-two week low of $104.45 and a fifty-two week high of $130.55. The company's 50 day moving average is $113.27 and its two-hundred day moving average is $118.95. The stock has a market cap of $39.36 billion, a PE ratio of 14.72, a P/E/G ratio of 0.98 and a beta of 1.28.

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Prudential Financial (NYSE:PRU - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.96 EPS for the quarter, missing analysts' consensus estimates of $3.36 by ($0.40). Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. Equities research analysts expect that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th were issued a dividend of $1.35 per share. The ex-dividend date was Tuesday, February 18th. This is a positive change from Prudential Financial's previous quarterly dividend of $1.30. This represents a $5.40 dividend on an annualized basis and a yield of 4.91%. Prudential Financial's dividend payout ratio is 72.29%.

Wall Street Analysts Forecast Growth

PRU has been the topic of a number of recent analyst reports. Jefferies Financial Group raised their price target on shares of Prudential Financial from $149.00 to $152.00 and gave the company a "buy" rating in a report on Tuesday, December 10th. Keefe, Bruyette & Woods reduced their target price on Prudential Financial from $129.00 to $125.00 and set a "market perform" rating on the stock in a research report on Wednesday, February 12th. Morgan Stanley cut their price objective on shares of Prudential Financial from $136.00 to $128.00 and set an "equal weight" rating on the stock in a report on Friday, February 28th. Wells Fargo & Company upped their price target on shares of Prudential Financial from $113.00 to $118.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 19th. Finally, Piper Sandler reduced their price target on shares of Prudential Financial from $127.00 to $124.00 and set a "neutral" rating for the company in a research report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Prudential Financial currently has an average rating of "Hold" and a consensus price target of $126.15.

Insiders Place Their Bets

In other news, major shareholder Insurance Co Of Ame Prudential acquired 52,595 shares of the company's stock in a transaction on Tuesday, March 25th. The shares were bought at an average cost of $28.52 per share, with a total value of $1,500,009.40. Following the transaction, the insider now owns 139,987 shares in the company, valued at approximately $3,992,429.24. This trade represents a 60.18 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Andrew F. Sullivan sold 6,000 shares of the business's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $105.98, for a total transaction of $635,880.00. Following the transaction, the executive vice president now owns 27,072 shares of the company's stock, valued at approximately $2,869,090.56. The trade was a 18.14 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.31% 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.