Prudential Financial Inc. lifted its stake in shares of Prudential Financial Inc (NYSE:PRU) by 10.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 436,402 shares of the financial services provider’s stock after purchasing an additional 42,230 shares during the quarter. Prudential Financial Inc. owned about 0.10% of Prudential Financial worth $44,217,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Flagship Harbor Advisors LLC acquired a new stake in Prudential Financial in the 2nd quarter valued at about $104,000. Sun Life Financial INC grew its stake in Prudential Financial by 470.9% in the 2nd quarter. Sun Life Financial INC now owns 1,136 shares of the financial services provider’s stock valued at $106,000 after acquiring an additional 937 shares during the last quarter. Financial Architects Inc grew its stake in Prudential Financial by 303.9% in the 2nd quarter. Financial Architects Inc now owns 1,640 shares of the financial services provider’s stock valued at $153,000 after acquiring an additional 1,234 shares during the last quarter. Centaurus Financial Inc. acquired a new stake in Prudential Financial in the 2nd quarter valued at about $157,000. Finally, Altman Advisors Inc. acquired a new stake in Prudential Financial in the 2nd quarter valued at about $215,000. 63.33% of the stock is currently owned by institutional investors and hedge funds.

In other Prudential Financial news, insider Scott Sleyster sold 23,300 shares of the firm’s stock in a transaction dated Friday, September 28th. The shares were sold at an average price of $99.74, for a total transaction of $2,323,942.00. Following the sale, the insider now directly owns 57,758 shares of the company’s stock, valued at approximately $5,760,782.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Prudential Financial Inc purchased 880,000 shares of the firm’s stock in a transaction 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 disclosure for this purchase can be found here. 0.61% of the stock is owned by company insiders.

A number of equities research analysts recently commented on the stock. ValuEngine cut shares of Prudential Financial from a “sell” rating to a “strong sell” rating in a research note on Friday. Zacks Investment Research cut shares of Prudential Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, November 14th. Morgan Stanley lowered their price objective on shares of Prudential Financial from $122.00 to $120.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 8th. UBS Group increased their price objective on shares of Prudential Financial from $125.00 to $126.00 and gave the company a “buy” rating in a research note on Monday, October 8th. Finally, Goldman Sachs Group raised shares of Prudential Financial from a “buy” rating to a “conviction-buy” rating in a research note on Monday, September 10th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Prudential Financial has an average rating of “Buy” and a consensus price target of $119.31.

Prudential Financial stock opened at $91.65 on Tuesday. Prudential Financial Inc has a 12-month low of $89.33 and a 12-month high of $127.14. The stock has a market cap of $37.81 billion, a price-to-earnings ratio of 8.66, a PEG ratio of 0.84 and a beta of 1.44. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.11 and a current ratio of 0.11.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Wednesday, November 7th. The financial services provider reported $3.15 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.16 by ($0.01). Prudential Financial had a return on equity of 10.20% and a net margin of 12.59%. The firm had revenue of $14.43 billion for the quarter, compared to analyst estimates of $13.51 billion. During the same period in the prior year, the business earned $3.01 earnings per share. As a group, equities research analysts expect that Prudential Financial Inc will post 12.18 EPS for the current fiscal year.

The company 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 is Friday, November 23rd. This represents a $3.60 annualized dividend and a dividend yield of 3.93%. Prudential Financial’s dividend payout ratio is currently 34.03%.

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Prudential Financial Company 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.

Further Reading: Do stock splits help investors?

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

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