Retirement Systems of Alabama grew its position in Prudential Financial, Inc. (NYSE:PRU) by 93.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 403,359 shares of the financial services provider’s stock after purchasing an additional 195,357 shares during the quarter. Retirement Systems of Alabama owned approximately 0.10% of Prudential Financial worth $42,885,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in shares of Prudential Financial by 2.9% in the second quarter. BlackRock Inc. now owns 33,155,309 shares of the financial services provider’s stock valued at $3,585,415,000 after purchasing an additional 934,352 shares during the period. Vanguard Group Inc. raised its position in shares of Prudential Financial by 2.0% in the second quarter. Vanguard Group Inc. now owns 30,885,285 shares of the financial services provider’s stock valued at $3,339,935,000 after purchasing an additional 612,799 shares during the period. Capital Research Global Investors raised its position in shares of Prudential Financial by 1.2% in the second quarter. Capital Research Global Investors now owns 13,662,673 shares of the financial services provider’s stock valued at $1,477,481,000 after purchasing an additional 162,833 shares during the period. Ameriprise Financial Inc. raised its position in shares of Prudential Financial by 11.9% in the second quarter. Ameriprise Financial Inc. now owns 4,157,881 shares of the financial services provider’s stock valued at $449,637,000 after purchasing an additional 442,168 shares during the period. Finally, LSV Asset Management raised its position in shares of Prudential Financial by 1.0% in the second quarter. LSV Asset Management now owns 3,372,864 shares of the financial services provider’s stock valued at $364,741,000 after purchasing an additional 32,998 shares during the period. 64.48% of the stock is currently owned by institutional investors.

Prudential Financial, Inc. (PRU) traded down $1.23 on Monday, reaching $110.72. 1,805,400 shares of the company’s stock were exchanged, compared to its average volume of 1,857,755. Prudential Financial, Inc. has a 1 year low of $95.88 and a 1 year high of $115.26. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.13 and a quick ratio of 0.13. The firm has a market capitalization of $46,945.28, a P/E ratio of 10.70, a P/E/G ratio of 1.25 and a beta of 1.56.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Wednesday, November 1st. The financial services provider reported $3.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.71 by $0.30. Prudential Financial had a net margin of 7.71% and a return on equity of 9.51%. The firm had revenue of $13.36 billion for the quarter, compared to the consensus estimate of $12.24 billion. During the same quarter in the previous year, the company earned $2.66 earnings per share. analysts forecast that Prudential Financial, Inc. will post 10.38 earnings per share for the current fiscal year.

PRU has been the topic of a number of recent analyst reports. Royal Bank Of Canada reissued a “hold” rating and issued a $117.00 price target on shares of Prudential Financial in a research report on Wednesday, September 6th. Zacks Investment Research raised shares of Prudential Financial from a “hold” rating to a “buy” rating and set a $122.00 target price on the stock in a research report on Tuesday, October 10th. Citigroup Inc. raised shares of Prudential Financial from a “neutral” rating to a “buy” rating and set a $103.00 target price on the stock in a research report on Tuesday, October 17th. BidaskClub raised shares of Prudential Financial from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. Finally, Morgan Stanley boosted their target price on shares of Prudential Financial from $118.00 to $123.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 5th. Eight analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $115.13.

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About Prudential Financial

Prudential Financial, Inc, is a financial services company. The Company, through its subsidiaries, offers a range of financial products and services, which includes life insurance, annuities, retirement-related services, mutual funds and investment management. The Company’s operations consists of four divisions, which together encompass seven segments.

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

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