Retirement Systems of Alabama boosted its position in Prudential Financial Inc (NYSE:PRU) by 5.6% during the 4th quarter, HoldingsChannel reports. The fund owned 425,875 shares of the financial services provider’s stock after acquiring an additional 22,516 shares during the quarter. Retirement Systems of Alabama’s holdings in Prudential Financial were worth $48,967,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of PRU. APG Asset Management N.V. raised its holdings in Prudential Financial by 171.8% in the third quarter. APG Asset Management N.V. now owns 2,704,719 shares of the financial services provider’s stock valued at $287,566,000 after acquiring an additional 1,709,699 shares in the last quarter. PGGM Investments increased its stake in Prudential Financial by 102.2% in the third quarter. PGGM Investments now owns 578,084 shares of the financial services provider’s stock valued at $61,462,000 after purchasing an additional 292,174 shares during the last quarter. Teacher Retirement System of Texas increased its stake in Prudential Financial by 386.4% in the fourth quarter. Teacher Retirement System of Texas now owns 322,308 shares of the financial services provider’s stock valued at $37,059,000 after purchasing an additional 256,049 shares during the last quarter. Public Employees Retirement System of Ohio increased its stake in Prudential Financial by 43.8% in the fourth quarter. Public Employees Retirement System of Ohio now owns 447,402 shares of the financial services provider’s stock valued at $51,442,000 after purchasing an additional 136,357 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in Prudential Financial by 17.7% in the third quarter. Canada Pension Plan Investment Board now owns 863,385 shares of the financial services provider’s stock valued at $91,795,000 after purchasing an additional 129,700 shares during the last quarter. 64.37% of the stock is currently owned by hedge funds and other institutional investors.

Prudential Financial Inc (NYSE PRU) opened at $106.89 on Wednesday. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.32. The stock has a market cap of $45,732.64, a P/E ratio of 10.19, a PEG ratio of 1.12 and a beta of 1.50. Prudential Financial Inc has a 1 year low of $97.88 and a 1 year high of $127.14.

Prudential Financial (NYSE:PRU) last announced its earnings results on Wednesday, February 7th. The financial services provider reported $2.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.64 by $0.05. The business had revenue of $15.25 billion for the quarter, compared to analyst estimates of $12.87 billion. Prudential Financial had a net margin of 13.41% and a return on equity of 9.29%. During the same period last year, the firm posted $2.46 earnings per share. research analysts predict that Prudential Financial Inc will post 12.05 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Wednesday, February 21st will be given a dividend of $0.90 per share. The ex-dividend date is Tuesday, February 20th. This is a positive change from Prudential Financial’s previous quarterly dividend of $0.75. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.37%. Prudential Financial’s dividend payout ratio (DPR) is 16.75%.

Prudential Financial declared that its Board of Directors has initiated a share repurchase program on Thursday, December 14th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the financial services provider to purchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

PRU has been the topic of several recent analyst reports. Royal Bank of Canada upgraded shares of Prudential Financial from a “sector perform” rating to an “outperform” rating in a research note on Monday. They noted that the move was a valuation call. Citigroup upgraded shares of Prudential Financial from a “neutral” rating to a “buy” rating and set a $103.00 price target on the stock in a research note on Tuesday, October 17th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $127.00 price target on shares of Prudential Financial in a research note on Thursday, December 21st. Sandler O’Neill reiterated a “buy” rating and issued a $134.00 price target on shares of Prudential Financial in a research note on Thursday, January 11th. Finally, ValuEngine upgraded shares of Prudential Financial from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 31st. Six analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Prudential Financial presently has a consensus rating of “Buy” and a consensus price target of $119.14.

In other news, EVP Timothy P. Harris sold 10,527 shares of the firm’s stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $115.00, for a total transaction of $1,210,605.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Barbara Koster sold 16,801 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $115.17, for a total transaction of $1,934,971.17. Following the transaction, the senior vice president now owns 37,327 shares in the company, valued at $4,298,950.59. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

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Prudential Financial Company Profile

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.

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

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