Davis R M Inc. decreased its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 8.8% during the second quarter, Holdings Channel reports. The institutional investor owned 3,960 shares of the financial services provider’s stock after selling 381 shares during the period. Davis R M Inc.’s holdings in Prudential Financial were worth $428,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the stock. BlackRock Inc. increased its stake 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 in the last quarter. Vanguard Group Inc. increased its stake 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 in the last quarter. Geode Capital Management LLC increased its stake in Prudential Financial by 9.4% in the first quarter. Geode Capital Management LLC now owns 4,297,520 shares of the financial services provider’s stock valued at $457,822,000 after buying an additional 368,321 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Prudential Financial by 2.8% in the first quarter. Dimensional Fund Advisors LP now owns 2,998,472 shares of the financial services provider’s stock valued at $319,880,000 after buying an additional 81,327 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in Prudential Financial by 1.7% in the first quarter. Legal & General Group Plc now owns 2,247,784 shares of the financial services provider’s stock valued at $239,794,000 after buying an additional 38,540 shares in the last quarter. 63.51% of the stock is owned by hedge funds and other institutional investors.

Shares of Prudential Financial, Inc. (NYSE:PRU) opened at 111.69 on Tuesday. The firm has a market cap of $48.03 billion, a PE ratio of 12.23 and a beta of 1.50. The company has a 50 day moving average price of $109.66 and a 200-day moving average price of $107.87. Prudential Financial, Inc. has a 12-month low of $73.93 and a 12-month high of $114.55.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $2.09 EPS for the quarter, missing the Zacks’ consensus estimate of $2.70 by $0.61. Prudential Financial had a net margin of 7.15% and a return on equity of 8.98%. The company had revenue of $13.03 billion for the quarter, compared to analyst estimates of $12.45 billion. During the same quarter in the prior year, the business earned $1.84 EPS. Analysts expect that Prudential Financial, Inc. will post $10.35 EPS for the current year.

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PRU has been the subject of several analyst reports. Deutsche Bank AG upped their price objective on Prudential Financial from $114.00 to $117.00 and gave the company a “buy” rating in a research note on Wednesday, April 19th. Wells Fargo & Company reaffirmed a “hold” rating on shares of Prudential Financial in a research note on Thursday, August 3rd. BidaskClub raised Prudential Financial from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. ValuEngine raised Prudential Financial from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 2nd. Finally, Zacks Investment Research downgraded Prudential Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, June 14th. Nine analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $111.21.

In related news, Chairman John R. Strangfeld, Jr. sold 201,585 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $110.00, for a total transaction of $22,174,350.00. Following the transaction, the chairman now owns 456,121 shares in the company, valued at $50,173,310. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.66% of the stock is owned by company insiders.

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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