Prudential Financial, Inc. (NYSE:PRU) Shares Purchased by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio boosted its position in Prudential Financial, Inc. (NYSE:PRU) by 9.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 150,700 shares of the financial services provider’s stock after purchasing an additional 13,621 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Prudential Financial were worth $18,250,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Glenmede Trust Co. NA grew its holdings in Prudential Financial by 7.4% in the 3rd quarter. Glenmede Trust Co. NA now owns 17,968 shares of the financial services provider’s stock valued at $2,176,000 after buying an additional 1,234 shares in the last quarter. Janus Henderson Group PLC grew its holdings in Prudential Financial by 2.3% in the 3rd quarter. Janus Henderson Group PLC now owns 79,256 shares of the financial services provider’s stock valued at $9,597,000 after buying an additional 1,765 shares in the last quarter. First Horizon Advisors Inc. grew its holdings in Prudential Financial by 4.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 162,685 shares of the financial services provider’s stock valued at $19,701,000 after buying an additional 6,641 shares in the last quarter. ORG Partners LLC purchased a new stake in Prudential Financial in the 2nd quarter valued at $156,000. Finally, PGGM Investments grew its holdings in shares of Prudential Financial by 98.0% during the 2nd quarter. PGGM Investments now owns 64,277 shares of the financial services provider’s stock worth $7,533,000 after purchasing an additional 31,807 shares during the period. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Bank of America increased their price target on Prudential Financial from $109.00 to $118.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Evercore ISI upgraded Prudential Financial from an “underperform” rating to an “inline” rating and increased their price target for the stock from $117.00 to $140.00 in a report on Thursday, November 14th. Jefferies Financial Group increased their price target on Prudential Financial from $149.00 to $152.00 and gave the stock a “buy” rating in a report on Tuesday. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $121.00 price target on shares of Prudential Financial in a report on Wednesday, August 21st. Finally, Barclays increased their target price on Prudential Financial from $118.00 to $119.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. Eleven analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $126.33.

Prudential Financial Price Performance

PRU stock opened at $121.24 on Wednesday. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.14 and a quick ratio of 0.14. The firm has a market capitalization of $43.16 billion, a P/E ratio of 10.78, a P/E/G ratio of 0.91 and a beta of 1.29. The business’s 50-day moving average is $124.95 and its two-hundred day moving average is $120.43. Prudential Financial, Inc. has a 1 year low of $100.60 and a 1 year high of $130.55.

Prudential Financial (NYSE:PRU) last issued its earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share for the quarter, topping the consensus estimate of $3.47 by $0.01. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. The business had revenue of $19.48 billion for the quarter, compared to analyst estimates of $14.57 billion. During the same quarter last year, the company earned $3.44 EPS. Analysts anticipate that Prudential Financial, Inc. will post 13.35 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th will be given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 4.29%. The ex-dividend date of this dividend is Tuesday, November 19th. Prudential Financial’s dividend payout ratio (DPR) is presently 46.22%.

Insider Transactions at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential purchased 261,059 shares of the company’s stock in a transaction that occurred on Tuesday, October 8th. The shares were purchased at an average price of $27.58 per share, for a total transaction of $7,200,007.22. Following the purchase, the insider now directly owns 4,208,549 shares of the company’s stock, valued at $116,071,781.42. This represents a 6.61 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.34% of the company’s stock.

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.