Prudential Financial, Inc. $PRU Shares Purchased by Fulcrum Asset Management LLP

Fulcrum Asset Management LLP lifted its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 3,369.5% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 28,623 shares of the financial services provider’s stock after buying an additional 27,798 shares during the period. Fulcrum Asset Management LLP’s holdings in Prudential Financial were worth $3,293,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of PRU. Plimoth Trust Co. LLC grew its stake in Prudential Financial by 2.4% in the second quarter. Plimoth Trust Co. LLC now owns 3,860 shares of the financial services provider’s stock worth $417,000 after purchasing an additional 90 shares during the period. Security National Bank of SO Dak boosted its holdings in shares of Prudential Financial by 0.6% during the 2nd quarter. Security National Bank of SO Dak now owns 14,676 shares of the financial services provider’s stock valued at $1,584,000 after buying an additional 90 shares in the last quarter. XXI Wealth LLC boosted its holdings in shares of Prudential Financial by 5.0% during the 3rd quarter. XXI Wealth LLC now owns 1,967 shares of the financial services provider’s stock valued at $223,000 after buying an additional 93 shares in the last quarter. Prosperitas Financial LLC grew its position in shares of Prudential Financial by 4.6% in the 3rd quarter. Prosperitas Financial LLC now owns 2,186 shares of the financial services provider’s stock worth $248,000 after buying an additional 96 shares during the period. Finally, Focused Wealth Management Inc grew its position in shares of Prudential Financial by 4.3% in the 3rd quarter. Focused Wealth Management Inc now owns 2,360 shares of the financial services provider’s stock worth $268,000 after buying an additional 98 shares during the period. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PRU has been the subject of a number of recent research reports. BMO Capital Markets lifted their price target on shares of Prudential Financial from $90.00 to $120.00 and gave the company an “underperform” rating in a research report on Friday, August 21st. Zacks Research downgraded shares of Prudential Financial from a “hold” rating to a “strong sell” rating in a research note on Friday, October 23rd. JPMorgan Chase & Co. lowered their target price on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a report on Thursday, October 22nd. TD Cowen dropped their price target on Prudential Financial from $114.00 to $112.00 and set a “hold” rating on the stock in a research report on Wednesday, October 21st. Finally, Deutsche Bank Aktiengesellschaft cut their price target on Prudential Financial from $105.00 to $102.00 and set a “hold” rating on the stock in a research note on Friday, October 23rd. Two research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and six have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Prudential Financial has an average rating of “Reduce” and an average price target of $112.40.

Insider Buying and Selling at Prudential Financial

In related news, EVP Ann Kappler sold 7,652 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $125.01, for a total transaction of $956,576.52. Following the completion of the sale, the executive vice president owned 14,407 shares of the company’s stock, valued at $1,801,019.07. This trade represents a 34.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.05% of the stock is owned by company insiders.

Prudential Financial Stock Performance

Shares of PRU stock opened at $122.24 on Tuesday. Prudential Financial, Inc. has a one year low of $91.89 and a one year high of $128.78. The company’s 50-day moving average is $117.03 and its 200 day moving average is $109.03. The company has a market capitalization of $42.17 billion, a price-to-earnings ratio of 11.12, a price-to-earnings-growth ratio of 2.12 and a beta of 0.85. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.16 and a current ratio of 0.17.

Prudential Financial (NYSE:PRU) last issued its earnings results on Tuesday, November 3rd. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.33 by $0.44. The business had revenue of $14.45 billion during the quarter, compared to analysts’ expectations of $14.66 billion. Prudential Financial had a net margin of 6.75% and a return on equity of 16.38%. During the same period in the previous year, the company earned $4.26 earnings per share. Sell-side analysts expect that Prudential Financial, Inc. will post 13.54 EPS for the current fiscal year.

Prudential Financial Company Profile

Prudential Financial, Inc is a financial services company headquartered in Newark, New Jersey. Founded in 1875 as the Prudential Friendly Society, it has grown into a provider of insurance, retirement and investment services.

The company offers life insurance, annuities, workplace benefits and retirement-related products and services. Through its asset management businesses, Prudential also serves individual and institutional investors.

Prudential serves customers in the United States and operates internationally, with a significant presence in Japan and other markets.