Joule Financial LLC Purchases 293 Shares of Prudential Financial, Inc. (NYSE:PRU)

Joule Financial LLC boosted its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 3.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,398 shares of the financial services provider’s stock after acquiring an additional 293 shares during the period. Joule Financial LLC’s holdings in Prudential Financial were worth $995,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. State Street Corp boosted its position in shares of Prudential Financial by 0.3% in the 3rd quarter. State Street Corp now owns 17,007,013 shares of the financial services provider’s stock worth $2,059,549,000 after purchasing an additional 49,830 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Prudential Financial by 4.1% in the third quarter. Geode Capital Management LLC now owns 8,662,679 shares of the financial services provider’s stock worth $1,047,872,000 after acquiring an additional 341,787 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of Prudential Financial by 9.4% during the second quarter. Legal & General Group Plc now owns 3,542,400 shares of the financial services provider’s stock valued at $415,134,000 after acquiring an additional 305,143 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Prudential Financial by 1.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,058,028 shares of the financial services provider’s stock valued at $370,327,000 after purchasing an additional 47,561 shares during the last quarter. Finally, FMR LLC boosted its stake in Prudential Financial by 31.3% in the 3rd quarter. FMR LLC now owns 1,444,288 shares of the financial services provider’s stock worth $174,903,000 after purchasing an additional 344,254 shares in the last quarter. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, major shareholder Insurance Co Of Ame Prudential purchased 537,249 shares of the stock in a transaction dated Monday, November 25th. The shares were purchased at an average cost of $27.92 per share, with a total value of $14,999,992.08. Following the completion of the purchase, the insider now directly owns 4,780,293 shares of the company’s stock, valued at approximately $133,465,780.56. The trade was a 12.66 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.31% of the company’s stock.

Prudential Financial Trading Up 0.5 %

Shares of Prudential Financial stock opened at $118.98 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.14 and a current ratio of 0.14. Prudential Financial, Inc. has a fifty-two week low of $100.60 and a fifty-two week high of $130.55. The firm has a 50-day simple moving average of $122.06 and a two-hundred day simple moving average of $120.66. The company has a market cap of $42.36 billion, a P/E ratio of 10.58, a price-to-earnings-growth ratio of 0.75 and a beta of 1.31.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $3.48 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $14.57 billion. During the same period in the previous year, the business earned $3.44 earnings per share. As a group, equities analysts predict that Prudential Financial, Inc. will post 13.34 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th were given a $1.30 dividend. The ex-dividend date was Tuesday, November 19th. This represents a $5.20 annualized dividend and a dividend yield of 4.37%. Prudential Financial’s dividend payout ratio (DPR) is 46.22%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PRU. Bank of America raised their price target on shares of Prudential Financial from $109.00 to $118.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Piper Sandler lowered their price target on Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a research report on Thursday. Jefferies Financial Group increased their price objective on Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Evercore ISI upgraded shares of 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. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Prudential Financial from $135.00 to $129.00 and set a “market perform” rating on the stock in a report on Thursday. Eleven analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $127.25.

Prudential Financial 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.