Public Employees Retirement System of Ohio Purchases 13,621 Shares of Prudential Financial, Inc. (NYSE:PRU)

Public Employees Retirement System of Ohio lifted its holdings in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 9.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 150,700 shares of the financial services provider's stock after purchasing an additional 13,621 shares during the period. Public Employees Retirement System of Ohio's holdings in Prudential Financial were worth $18,250,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. Glenmede Trust Co. NA boosted 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 purchasing an additional 1,234 shares during the period. Janus Henderson Group PLC grew its position in Prudential Financial by 2.3% during the third quarter. Janus Henderson Group PLC now owns 79,256 shares of the financial services provider's stock worth $9,597,000 after buying an additional 1,765 shares in the last quarter. First Horizon Advisors Inc. increased its stake in Prudential Financial by 4.3% during the third quarter. First Horizon Advisors Inc. now owns 162,685 shares of the financial services provider's stock valued at $19,701,000 after acquiring an additional 6,641 shares during the period. ORG Partners LLC acquired a new position in Prudential Financial in the 2nd quarter valued at approximately $156,000. Finally, PGGM Investments lifted its position in shares of Prudential Financial by 98.0% in the 2nd quarter. PGGM Investments now owns 64,277 shares of the financial services provider's stock worth $7,533,000 after acquiring an additional 31,807 shares during the period. Institutional investors and hedge funds own 56.83% of the company's stock.

Insider Buying and Selling at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential acquired 261,059 shares of the company's stock in a transaction that occurred on Tuesday, October 8th. The shares were acquired at an average price of $27.58 per share, with a total value of $7,200,007.22. Following the purchase, the insider now 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.34% of the company's stock.

Prudential Financial Price Performance

Shares of PRU traded down $1.18 during mid-day trading on Wednesday, hitting $120.06. 1,995,491 shares of the company traded hands, compared to its average volume of 1,496,584. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.60. The business has a 50-day moving average of $124.98 and a 200 day moving average of $120.44. Prudential Financial, Inc. has a one year low of $100.60 and a one year high of $130.55. The stock has a market capitalization of $42.74 billion, a price-to-earnings ratio of 10.70, a PEG ratio of 0.91 and a beta of 1.29.

Prudential Financial (NYSE:PRU - Get Free Report) last released its earnings results on Wednesday, October 30th. The financial services provider reported $3.48 EPS for the quarter, beating 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 company had revenue of $19.48 billion during the quarter, compared to analysts' expectations of $14.57 billion. During the same period last year, the firm earned $3.44 EPS. As a group, equities analysts expect that Prudential Financial, Inc. will post 13.35 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 19th will be issued a $1.30 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $5.20 annualized dividend and a yield of 4.33%. Prudential Financial's dividend payout ratio is currently 46.22%.

Analyst Upgrades and Downgrades

PRU has been the subject of a number of recent research reports. UBS Group upped their target price on Prudential Financial from $112.00 to $119.00 and gave the company a "neutral" rating in a research note on Tuesday, August 13th. Morgan Stanley decreased their target price on shares of Prudential Financial from $123.00 to $122.00 and set an "equal weight" rating on the stock in a research report on Monday, August 19th. Piper Sandler lifted their price objective on Prudential Financial from $121.00 to $127.00 and gave the company a "neutral" rating in a report on Wednesday, October 2nd. Jefferies Financial Group increased their target price on Prudential Financial from $149.00 to $152.00 and gave the stock a "buy" rating in a report on Tuesday. Finally, TD Cowen upped their price target on Prudential Financial from $130.00 to $133.00 and gave the company a "hold" rating in a research report on Wednesday, November 27th. Eleven analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $126.33.

Prudential Financial Company 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.