Capstone Asset Management Co. raised its stake in Prudential Financial Inc. (NYSE:PRU) by 0.9% during the third quarter, according to its most recent filing with the SEC. The fund owned 46,743 shares of the company’s stock after buying an additional 397 shares during the period. Capstone Asset Management Co.’s holdings in Prudential Financial were worth $3,817,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Robeco Institutional Asset Management B.V. boosted its stake in Prudential Financial by 96.8% in the second quarter. Robeco Institutional Asset Management B.V. now owns 156,322 shares of the company’s stock valued at $11,152,000 after buying an additional 76,873 shares during the last quarter. Artemis Investment Management LLP boosted its stake in Prudential Financial by 242.9% in the second quarter. Artemis Investment Management LLP now owns 195,800 shares of the company’s stock valued at $13,965,000 after buying an additional 138,700 shares during the last quarter. Douglas Lane & Associates LLC boosted its stake in Prudential Financial by 11.2% in the second quarter. Douglas Lane & Associates LLC now owns 497,664 shares of the company’s stock valued at $35,503,000 after buying an additional 50,012 shares during the last quarter. Boston Advisors LLC boosted its stake in Prudential Financial by 1.1% in the second quarter. Boston Advisors LLC now owns 241,447 shares of the company’s stock valued at $17,225,000 after buying an additional 2,571 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Prudential Financial by 20.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 320,604 shares of the company’s stock valued at $22,872,000 after buying an additional 54,266 shares during the last quarter. 60.46% of the stock is currently owned by institutional investors.

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

Prudential Financial Inc. (NYSE:PRU) traded up 0.37% during midday trading on Tuesday, reaching $99.77. 3,037,816 shares of the company’s stock were exchanged. The stock’s 50-day moving average is $89.97 and its 200-day moving average is $79.94. Prudential Financial Inc. has a 12-month low of $57.19 and a 12-month high of $101.96. The stock has a market capitalization of $42.90 billion, a price-to-earnings ratio of 9.41 and a beta of 1.68.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Wednesday, November 2nd. The company reported $2.66 earnings per share for the quarter, topping the consensus estimate of $2.49 by $0.17. Prudential Financial had a net margin of 8.92% and a return on equity of 7.73%. During the same period in the previous year, the firm posted $2.40 earnings per share. On average, equities analysts forecast that Prudential Financial Inc. will post $8.99 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Tuesday, November 22nd will be given a $0.70 dividend. The ex-dividend date is Friday, November 18th. This represents a $2.80 annualized dividend and a dividend yield of 2.81%. Prudential Financial’s payout ratio is presently 26.32%.

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Several analysts have commented on PRU shares. Goldman Sachs Group Inc. upgraded shares of Prudential Financial from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $80.00 to $93.00 in a report on Friday, September 23rd. Bank of America Corp. upgraded shares of Prudential Financial from an “underperform” rating to a “buy” rating in a report on Friday, November 18th. Credit Suisse Group AG started coverage on shares of Prudential Financial in a report on Friday, October 7th. They issued a “neutral” rating and a $89.00 price objective for the company. FBR & Co lowered shares of Prudential Financial from an “outperform” rating to a “market perform” rating and set a $86.00 price objective for the company. in a report on Tuesday, October 18th. They noted that the move was a valuation call. Finally, Zacks Investment Research lowered shares of Prudential Financial from a “buy” rating to a “hold” rating in a report on Monday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $90.67.

In related news, insider Charles F. Lowrey sold 50,322 shares of the stock in a transaction that occurred on Wednesday, October 5th. The shares were sold at an average price of $85.00, for a total transaction of $4,277,370.00. Following the completion of the sale, the insider now owns 92,458 shares of the company’s stock, valued at $7,858,930. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Timothy P. Harris sold 6,531 shares of the stock in a transaction that occurred on Wednesday, October 5th. The shares were sold at an average price of $85.00, for a total transaction of $555,135.00. Following the sale, the executive vice president now directly owns 20,924 shares of the company’s stock, valued at approximately $1,778,540. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by insiders.

About Prudential Financial

Prudential Financial, Inc is a financial services company. The Company, through its subsidiaries and affiliates, provides a range of financial products and services, including life insurance, annuities and investment management. The Company’s divisions include U.S. Retirement Solutions and Investment Management Division; U.S.

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