Versor Investments LP Buys New Position in Prudential Financial, Inc. $PRU

Versor Investments LP purchased a new position in shares of Prudential Financial, Inc. (NYSE:PRU) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 17,103 shares of the financial services provider’s stock, valued at approximately $1,774,000.

A number of other institutional investors have also modified their holdings of PRU. Darwin Wealth Management LLC purchased a new stake in Prudential Financial in the 2nd quarter worth approximately $36,000. Chilton Capital Management LLC boosted its holdings in shares of Prudential Financial by 146.5% during the third quarter. Chilton Capital Management LLC now owns 350 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 208 shares during the last quarter. AlphaCore Capital LLC purchased a new stake in shares of Prudential Financial in the second quarter valued at $39,000. Capital A Wealth Management LLC increased its stake in Prudential Financial by 4,600.0% in the second quarter. Capital A Wealth Management LLC now owns 376 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 368 shares during the last quarter. Finally, Elevation Point Wealth Partners LLC purchased a new position in Prudential Financial during the second quarter worth about $51,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

Prudential Financial Price Performance

Prudential Financial stock opened at $102.24 on Tuesday. 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 firm has a market capitalization of $35.78 billion, a P/E ratio of 10.22, a PEG ratio of 1.17 and a beta of 0.97. The firm has a fifty day moving average of $112.32 and a 200-day moving average of $107.41. Prudential Financial, Inc. has a 52-week low of $90.38 and a 52-week high of $119.76.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Tuesday, February 3rd. The financial services provider reported $3.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.37 by ($0.07). Prudential Financial had a net margin of 6.20% and a return on equity of 16.32%. The company had revenue of $14.52 billion during the quarter, compared to analyst estimates of $14.48 billion. During the same quarter in the prior year, the company posted $2.96 earnings per share. As a group, analysts predict that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Investors of record on Tuesday, February 17th will be issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 5.5%. The ex-dividend date is Tuesday, February 17th. This is an increase from Prudential Financial’s previous quarterly dividend of $1.35. Prudential Financial’s dividend payout ratio (DPR) is 54.00%.

Analysts Set New Price Targets

Several analysts have commented on the company. Wall Street Zen cut Prudential Financial from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. Evercore decreased their target price on shares of Prudential Financial from $122.00 to $110.00 and set an “in-line” rating on the stock in a research report on Thursday, February 5th. Wells Fargo & Company upped their price target on shares of Prudential Financial from $113.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 13th. Keefe, Bruyette & Woods lifted their price target on shares of Prudential Financial from $117.00 to $118.00 and gave the company a “market perform” rating in a report on Monday, November 3rd. Finally, UBS Group upped their price objective on Prudential Financial from $111.00 to $116.00 and gave the stock a “neutral” rating in a report on Thursday, January 8th. One analyst has rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $118.44.

Insider Buying and Selling

In other news, EVP Jacques Chappuis bought 1,000 shares of Prudential Financial stock in a transaction dated Friday, February 6th. The shares were acquired at an average cost of $100.97 per share, with a total value of $100,970.00. Following the completion of the transaction, the executive vice president owned 1,000 shares in the company, valued at approximately $100,970. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Caroline Feeney sold 6,555 shares of the firm’s 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 sale, the executive vice president directly owned 22,523 shares of the company’s stock, valued at approximately $2,618,974.44. The trade was a 22.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.25% of the company’s stock.

About Prudential Financial

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.