Prudential Financial, Inc. $PRU Stock: Fulcrum Asset Management LLP Grows Position

Fulcrum Asset Management LLP grew its position in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 3,369.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,623 shares of the financial services provider's stock after purchasing 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 reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC raised its stake in shares of Prudential Financial by 7.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 22,872 shares of the financial services provider's stock worth $2,587,000 after acquiring an additional 1,665 shares in the last quarter. Griffith & Werner Inc. purchased a new stake in shares of Prudential Financial in the 3rd quarter valued at $294,000. StoneRidge PMG Advisors LLC bought a new position in shares of Prudential Financial during the 3rd quarter valued at $834,000. M Holdings Securities Inc. bought a new position in shares of Prudential Financial during the 3rd quarter valued at $1,193,000. Finally, Candriam S.C.A. grew its holdings in shares of Prudential Financial by 9.0% during the 3rd quarter. Candriam S.C.A. now owns 47,998 shares of the financial services provider's stock valued at $5,472,000 after purchasing an additional 3,948 shares during the last quarter. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Prudential Financial Trading Up 2.5%

Shares of PRU opened at $122.24 on Tuesday. The stock has a market capitalization of $42.17 billion, a P/E ratio of 11.12, a PEG ratio of 2.12 and a beta of 0.85. Prudential Financial, Inc. has a twelve month low of $91.89 and a twelve month high of $128.78. The company has a quick ratio of 0.16, a current ratio of 0.17 and a debt-to-equity ratio of 0.66. The firm has a fifty day simple moving average of $117.03 and a two-hundred day simple moving average of $109.03.

Prudential Financial (NYSE:PRU - Get Free Report) last issued its quarterly earnings data on Tuesday, November 3rd. The financial services provider reported $3.77 EPS for the quarter, beating the consensus estimate of $3.33 by $0.44. The firm had revenue of $14.45 billion during the quarter, compared to the consensus estimate 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 prior year, the firm posted $4.26 earnings per share. On average, research analysts anticipate that Prudential Financial, Inc. will post 13.54 EPS for the current year.

Insider Transactions at Prudential Financial

In related news, EVP Ann Kappler sold 7,652 shares of the business's stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $125.01, for a total transaction of $956,576.52. Following the transaction, the executive vice president owned 14,407 shares in the company, valued at $1,801,019.07. The trade was a 34.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.05% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PRU. Jefferies Financial Group lowered their price target on shares of Prudential Financial from $116.00 to $109.00 and set a "buy" rating for the company in a research note on Monday, October 12th. Bank of America reaffirmed a "neutral" rating on shares of Prudential Financial in a research note on Wednesday, November 4th. Keefe, Bruyette & Woods decreased their price objective on Prudential Financial from $123.00 to $119.00 and set a "market perform" rating on the stock in a report on Friday, October 16th. Zacks Research downgraded Prudential Financial from a "hold" rating to a "strong sell" rating in a report on Friday, October 23rd. Finally, Barclays boosted their target price on Prudential Financial from $94.00 to $98.00 and gave the company an "underweight" rating in a research note on Wednesday, November 4th. Two analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and six have issued a Sell rating to the company. According to data from MarketBeat.com, Prudential Financial has an average rating of "Reduce" and a consensus price target of $112.40.

About Prudential Financial

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.

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