Strs Ohio Purchases 9,185 Shares of Prudential Financial, Inc. $PRU

Strs Ohio lifted its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 47.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 28,436 shares of the financial services provider’s stock after purchasing an additional 9,185 shares during the quarter. Strs Ohio’s holdings in Prudential Financial were worth $3,055,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Meeder Asset Management Inc. lifted its position in shares of Prudential Financial by 90.2% in the 1st quarter. Meeder Asset Management Inc. now owns 234 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 111 shares during the period. Cheviot Value Management LLC acquired a new position in Prudential Financial during the first quarter worth $26,000. AlphaQuest LLC raised its holdings in Prudential Financial by 12,250.0% during the first quarter. AlphaQuest LLC now owns 247 shares of the financial services provider’s stock worth $28,000 after buying an additional 245 shares during the last quarter. Clearstead Trust LLC grew its stake in shares of Prudential Financial by 350.8% in the 1st quarter. Clearstead Trust LLC now owns 266 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 207 shares in the last quarter. Finally, N.E.W. Advisory Services LLC bought a new stake in shares of Prudential Financial in the 1st quarter worth $45,000. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently weighed in on PRU. JPMorgan Chase & Co. increased their price target on shares of Prudential Financial from $126.00 to $136.00 and gave the company a “neutral” rating in a research report on Tuesday, July 8th. Wells Fargo & Company decreased their price target on shares of Prudential Financial from $116.00 to $113.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 16th. Keefe, Bruyette & Woods lifted their price target on shares of Prudential Financial from $117.00 to $118.00 and gave the stock a “market perform” rating in a research note on Monday. Weiss Ratings restated a “hold (c)” rating on shares of Prudential Financial in a report on Wednesday, October 8th. Finally, Morgan Stanley lifted their price target on shares of Prudential Financial from $117.00 to $118.00 and gave the company an “equal weight” rating in a report on Tuesday, October 7th. One investment analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $120.73.

Insiders Place Their Bets

In other news, EVP Ann M. Kappler sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $109.65, for a total transaction of $438,600.00. Following the sale, the executive vice president directly owned 21,506 shares of the company’s stock, valued at $2,358,132.90. This represents a 15.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.25% of the stock is owned by insiders.

Prudential Financial Price Performance

PRU opened at $104.57 on Tuesday. The stock has a 50-day moving average price of $104.08 and a 200-day moving average price of $104.40. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.16 and a quick ratio of 0.16. The firm has a market cap of $36.81 billion, a PE ratio of 14.36, a P/E/G ratio of 0.88 and a beta of 1.04. Prudential Financial, Inc. has a 1 year low of $90.38 and a 1 year high of $130.55.

Prudential Financial (NYSE:PRU) last issued its earnings results on Wednesday, January 15th. The financial services provider reported $3.58 earnings per share for the quarter. The business had revenue of $8.35 billion during the quarter. Prudential Financial had a return on equity of 16.98% and a net margin of 4.65%. Sell-side analysts predict that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

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.