Prudential Financial, Inc. (NYSE:PRU) Shares Sold by US Bancorp DE

US Bancorp DE reduced its stake in Prudential Financial, Inc. (NYSE:PRU) by 1.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 267,415 shares of the financial services provider’s stock after selling 3,769 shares during the period. US Bancorp DE owned 0.06% of Prudential Financial worth $28,917,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. raised its position in Prudential Financial by 3,296.9% in the first quarter. BlackRock Inc. now owns 32,220,957 shares of the financial services provider’s stock valued at $3,437,330,000 after buying an additional 31,272,429 shares during the period. Vanguard Group Inc. raised its position in Prudential Financial by 3.3% in the first quarter. Vanguard Group Inc. now owns 30,272,486 shares of the financial services provider’s stock valued at $3,229,469,000 after buying an additional 968,500 shares during the period. Old Mutual Global Investors UK Ltd. raised its position in Prudential Financial by 971,689.7% in the first quarter. Old Mutual Global Investors UK Ltd. now owns 942,636 shares of the financial services provider’s stock valued at $100,560,000 after buying an additional 942,539 shares during the period. Bank of Montreal Can raised its position in Prudential Financial by 85.2% in the second quarter. Bank of Montreal Can now owns 1,452,721 shares of the financial services provider’s stock valued at $157,097,000 after buying an additional 668,233 shares during the period. Finally, NN Investment Partners Holdings N.V. raised its position in Prudential Financial by 558.9% in the first quarter. NN Investment Partners Holdings N.V. now owns 777,602 shares of the financial services provider’s stock valued at $82,954,000 after buying an additional 659,595 shares during the period. 63.35% of the stock is owned by hedge funds and other institutional investors.

Shares of Prudential Financial, Inc. (NYSE PRU) opened at 113.52 on Wednesday. The company has a market capitalization of $48.70 billion, a price-to-earnings ratio of 11.52 and a beta of 1.49. Prudential Financial, Inc. has a one year low of $72.25 and a one year high of $114.55. The firm’s 50-day moving average price is $108.36 and its 200-day moving average price is $107.52.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Wednesday, May 3rd. The financial services provider reported $2.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.64 by $0.15. Prudential Financial had a net margin of 7.78% and a return on equity of 8.52%. The company had revenue of $13.24 billion during the quarter, compared to analysts’ expectations of $12.75 billion. During the same period in the previous year, the company earned $2.18 EPS. Analysts anticipate that Prudential Financial, Inc. will post $10.67 earnings per share for the current year.

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Several research analysts have recently weighed in on PRU shares. Zacks Investment Research raised Prudential Financial from a “hold” rating to a “buy” rating and set a $117.00 price objective for the company in a research report on Tuesday, April 18th. Deutsche Bank AG boosted their target price on Prudential Financial from $114.00 to $117.00 and gave the company a “buy” rating in a research report on Wednesday, April 19th. BidaskClub lowered Prudential Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, June 27th. Credit Suisse Group decreased their target price on Prudential Financial from $121.00 to $120.00 and set a “neutral” rating for the company in a research report on Tuesday, May 23rd. Finally, ValuEngine raised Prudential Financial from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 2nd. Ten analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $111.21.

In other news, insider Charles F. Lowrey sold 222,857 shares of the company’s stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $108.04, for a total value of $24,077,470.28. Following the completion of the sale, the insider now owns 151,418 shares of the company’s stock, valued at approximately $16,359,200.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman John R. Strangfeld, Jr. sold 201,585 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $110.00, for a total transaction of $22,174,350.00. Following the completion of the sale, the chairman now directly owns 456,121 shares of the company’s stock, valued at approximately $50,173,310. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by corporate insiders.

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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