Comerica Bank cut its stake in Prudential Financial, Inc. (NYSE:PRU) by 2.9% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 127,049 shares of the financial services provider’s stock after selling 3,807 shares during the period. Comerica Bank’s holdings in Prudential Financial were worth $14,246,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PRU. First Personal Financial Services boosted its position in Prudential Financial by 3.4% in the first quarter. First Personal Financial Services now owns 1,407 shares of the financial services provider’s stock valued at $150,000 after buying an additional 46 shares during the period. Guardian Life Insurance Co. of America boosted its position in Prudential Financial by 0.3% in the first quarter. Guardian Life Insurance Co. of America now owns 1,658 shares of the financial services provider’s stock valued at $177,000 after buying an additional 5 shares during the period. Accurate Investment Solutions Inc. boosted its position in Prudential Financial by 2.3% in the second quarter. Accurate Investment Solutions Inc. now owns 1,664 shares of the financial services provider’s stock valued at $180,000 after buying an additional 38 shares during the period. Trust Co. of Vermont boosted its position in Prudential Financial by 28.5% in the second quarter. Trust Co. of Vermont now owns 1,711 shares of the financial services provider’s stock valued at $185,000 after buying an additional 380 shares during the period. Finally, Ledyard National Bank boosted its position in Prudential Financial by 4,178.6% in the first quarter. Ledyard National Bank now owns 1,797 shares of the financial services provider’s stock valued at $192,000 after buying an additional 1,755 shares during the period. Hedge funds and other institutional investors own 63.58% of the company’s stock.

Shares of Prudential Financial, Inc. (NYSE:PRU) opened at 105.21 on Thursday. The company’s 50-day moving average is $110.61 and its 200 day moving average is $108.12. Prudential Financial, Inc. has a 1-year low of $74.85 and a 1-year high of $115.26. The firm has a market capitalization of $44.92 billion, a price-to-earnings ratio of 11.75 and a beta of 1.50.

Prudential Financial (NYSE:PRU) last issued its earnings results on Wednesday, August 2nd. The financial services provider reported $2.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.70 by $0.61. The business had revenue of $13.03 billion during the quarter, compared to the consensus estimate of $12.45 billion. Prudential Financial had a net margin of 7.15% and a return on equity of 8.98%. During the same period last year, the business posted $1.84 EPS. On average, analysts expect that Prudential Financial, Inc. will post $10.18 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 14th. Stockholders of record on Tuesday, August 22nd will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 2.85%. The ex-dividend date is Friday, August 18th. Prudential Financial’s dividend payout ratio (DPR) is presently 33.63%.

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Several research firms have commented on PRU. Keefe, Bruyette & Woods restated a “buy” rating on shares of Prudential Financial in a research report on Friday, August 11th. BidaskClub cut shares of Prudential Financial from a “buy” rating to a “hold” rating in a research report on Saturday, August 12th. Wells Fargo & Company reaffirmed a “hold” rating on shares of Prudential Financial in a research note on Thursday, August 3rd. Zacks Investment Research lowered shares of Prudential Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, June 14th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $113.00 price target on shares of Prudential Financial in a research note on Tuesday, June 27th. Ten analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Prudential Financial presently has a consensus rating of “Buy” and an average target price of $111.21.

In related news, Chairman John R. Strangfeld, Jr. sold 201,585 shares of Prudential Financial 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 of the company’s stock, valued at approximately $50,173,310. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Nicholas C. Silitch sold 14,897 shares of Prudential Financial stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $110.00, for a total transaction of $1,638,670.00. Following the transaction, the insider now directly owns 21,274 shares in the company, valued at approximately $2,340,140. The disclosure for this sale can be found here. Insiders sold a total of 220,615 shares of company stock worth $24,276,660 in the last ninety days. Insiders own 0.66% of the company’s stock.

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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