Cadence Capital Management LLC lowered its stake in Prudential Financial, Inc. (NYSE:PRU) by 2.4% during the second quarter, according to its most recent filing with the SEC. The fund owned 76,139 shares of the financial services provider’s stock after selling 1,882 shares during the period. Cadence Capital Management LLC’s holdings in Prudential Financial were worth $8,234,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Westpac Banking Corp boosted its position in shares of Prudential Financial by 103.7% in the first quarter. Westpac Banking Corp now owns 54,100 shares of the financial services provider’s stock valued at $5,100,000 after buying an additional 27,536 shares in the last quarter. Financial Counselors Inc. boosted its position in shares of Prudential Financial by 3.4% in the first quarter. Financial Counselors Inc. now owns 72,807 shares of the financial services provider’s stock valued at $7,767,000 after buying an additional 2,365 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of 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. Russell Investments Group Ltd. boosted its position in shares of Prudential Financial by 7.4% in the first quarter. Russell Investments Group Ltd. now owns 371,824 shares of the financial services provider’s stock valued at $39,672,000 after buying an additional 25,581 shares in the last quarter. Finally, APG Asset Management N.V. boosted its position in shares of Prudential Financial by 1.2% in the second quarter. APG Asset Management N.V. now owns 995,020 shares of the financial services provider’s stock valued at $107,601,000 after buying an additional 11,600 shares in the last quarter. 63.58% of the stock is currently owned by institutional investors.

Prudential Financial, Inc. (PRU) traded down 0.750% during mid-day trading on Monday, hitting $101.185. 103,094 shares of the company’s stock were exchanged. Prudential Financial, Inc. has a 12 month low of $75.20 and a 12 month high of $115.26. The stock has a market cap of $43.21 billion, a PE ratio of 11.297 and a beta of 1.50. The stock’s 50 day moving average price is $110.29 and its 200-day moving average price is $108.05.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $2.09 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.70 by $0.61. The business had revenue of $13.03 billion for the quarter, compared to analysts’ expectations 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 in the previous year, the company earned $1.84 EPS. Equities analysts expect that Prudential Financial, Inc. will post $10.18 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 14th. Shareholders of record on Tuesday, August 22nd will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date is Friday, August 18th. Prudential Financial’s dividend payout ratio (DPR) is 33.63%.

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Several research analysts have recently commented on PRU shares. ValuEngine raised shares of Prudential Financial from a “buy” rating to a “strong-buy” rating in a report on Friday, June 2nd. Credit Suisse Group reissued a “hold” rating and issued a $121.00 price objective on shares of Prudential Financial in a research note on Thursday, April 27th. BidaskClub cut shares of Prudential Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Wells Fargo & Company reissued a “hold” rating on shares of Prudential Financial in a research note on Thursday, August 3rd. Finally, Royal Bank Of Canada reissued a “hold” rating and issued a $113.00 price objective 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 given a buy rating and one has assigned a strong buy rating to the company’s stock. Prudential Financial has a consensus rating of “Buy” and a consensus price target of $111.21.

In other Prudential Financial news, insider Stephen Pelletier sold 4,133 shares of the business’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $112.18, for a total transaction of $463,639.94. Following the transaction, the insider now owns 10,924 shares in the company, valued at $1,225,454.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Nicholas C. Silitch sold 14,897 shares of the business’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $110.00, for a total transaction of $1,638,670.00. Following the transaction, the insider now owns 21,274 shares in the company, valued at approximately $2,340,140. The disclosure for this sale can be found here. Insiders have sold 220,615 shares of company stock worth $24,276,660 in the last quarter. Company 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.

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

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