Keybank National Association OH increased its position in shares of Prudential Financial Inc (NYSE:PRU) by 9.9% during the 3rd quarter, Holdings Channel reports. The fund owned 125,123 shares of the financial services provider’s stock after acquiring an additional 11,272 shares during the quarter. Keybank National Association OH’s holdings in Prudential Financial were worth $12,677,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in PRU. Flagship Harbor Advisors LLC acquired a new position in Prudential Financial in the second quarter valued at about $104,000. Sun Life Financial INC lifted its position in Prudential Financial by 470.9% in the second quarter. Sun Life Financial INC now owns 1,136 shares of the financial services provider’s stock valued at $106,000 after buying an additional 937 shares during the last quarter. Financial Architects Inc lifted its position in Prudential Financial by 303.9% in the second quarter. Financial Architects Inc now owns 1,640 shares of the financial services provider’s stock valued at $153,000 after buying an additional 1,234 shares during the last quarter. Centaurus Financial Inc. acquired a new position in Prudential Financial in the second quarter valued at about $157,000. Finally, Financial Gravity Wealth Inc. acquired a new position in Prudential Financial in the third quarter valued at about $190,000. 63.33% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:PRU opened at $91.56 on Monday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.11 and a current ratio of 0.11. The stock has a market cap of $37.81 billion, a price-to-earnings ratio of 8.65, a price-to-earnings-growth ratio of 0.84 and a beta of 1.44. Prudential Financial Inc has a 1 year low of $89.33 and a 1 year high of $127.14.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Wednesday, November 7th. The financial services provider reported $3.15 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $3.16 by ($0.01). The business had revenue of $14.43 billion for the quarter, compared to analysts’ expectations of $13.51 billion. Prudential Financial had a return on equity of 10.20% and a net margin of 12.59%. During the same quarter last year, the company earned $3.01 earnings per share. Analysts anticipate that Prudential Financial Inc will post 12.18 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 13th. Shareholders of record on Monday, November 26th will be paid a dividend of $0.90 per share. The ex-dividend date of this dividend is Friday, November 23rd. This represents a $3.60 dividend on an annualized basis and a yield of 3.93%. Prudential Financial’s dividend payout ratio (DPR) is presently 34.03%.

In other news, major shareholder Prudential Financial Inc bought 880,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 16th. The shares were purchased at an average cost of $25.00 per share, for a total transaction of $22,000,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Scott Sleyster sold 23,300 shares of the company’s stock in a transaction that occurred on Friday, September 28th. The stock was sold at an average price of $99.74, for a total transaction of $2,323,942.00. Following the sale, the insider now owns 57,758 shares in the company, valued at $5,760,782.92. The disclosure for this sale can be found here. 0.61% of the stock is owned by corporate insiders.

A number of research analysts have commented on the stock. ValuEngine cut shares of Prudential Financial from a “sell” rating to a “strong sell” rating in a research report on Friday. Zacks Investment Research cut shares of Prudential Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, November 14th. Credit Suisse Group decreased their target price on shares of Prudential Financial from $102.00 to $98.00 and set a “neutral” rating on the stock in a research report on Friday, August 17th. Morgan Stanley decreased their target price on shares of Prudential Financial from $122.00 to $120.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 8th. Finally, UBS Group upped their target price on shares of Prudential Financial from $125.00 to $126.00 and gave the company a “buy” rating in a research report on Monday, October 8th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Prudential Financial presently has a consensus rating of “Buy” and a consensus price target of $119.31.

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Prudential Financial Profile

Prudential Financial, Inc, through its subsidiaries, provides insurance, investment management, and other financial products and services in the United States and internationally. It operates through U.S. Individual Solutions, U.S. Workplace Solutions, Investment Management, and International Insurance divisions.

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Want to see what other hedge funds are holding PRU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Prudential Financial Inc (NYSE:PRU).

Institutional Ownership by Quarter for Prudential Financial (NYSE:PRU)

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