Bridgewater Associates LP bought a new position in shares of Prudential Financial, Inc. (NYSE:PRU) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 8,606 shares of the financial services provider’s stock, valued at approximately $931,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PRU. BlackRock Inc. lifted its holdings in Prudential Financial by 3,296.9% during the 1st quarter. BlackRock Inc. now owns 32,220,957 shares of the financial services provider’s stock worth $3,437,330,000 after buying an additional 31,272,429 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Prudential Financial by 3.3% in the 1st quarter. Vanguard Group Inc. now owns 30,272,486 shares of the financial services provider’s stock valued at $3,229,469,000 after purchasing an additional 968,500 shares during the last quarter. AJO LP lifted its holdings in shares of Prudential Financial by 42.8% in the 2nd quarter. AJO LP now owns 2,743,406 shares of the financial services provider’s stock valued at $296,672,000 after purchasing an additional 821,881 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in shares of Prudential Financial by 2,179.5% in the 2nd quarter. Acadian Asset Management LLC now owns 730,899 shares of the financial services provider’s stock valued at $79,040,000 after purchasing an additional 698,835 shares during the last quarter. Finally, Bank of Montreal Can lifted its holdings in shares of Prudential Financial by 85.2% in the 2nd quarter. Bank of Montreal Can now owns 1,452,721 shares of the financial services provider’s stock valued at $157,097,000 after purchasing an additional 668,233 shares during the last quarter. 64.46% of the stock is owned by hedge funds and other institutional investors.

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In related news, insider Stephen Pelletier sold 4,133 shares of the firm’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $112.18, for a total value of $463,639.94. Following the completion of the transaction, the insider now owns 10,924 shares of the company’s stock, valued at $1,225,454.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman John R. Strangfeld, Jr. sold 201,585 shares of the firm’s stock in a transaction 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 completion of the transaction, 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. Insiders have sold 220,615 shares of company stock valued at $24,276,660 in the last three months. 0.66% of the stock is owned by insiders.

Prudential Financial, Inc. (NYSE:PRU) opened at 102.78 on Friday. The firm has a market cap of $43.89 billion, a price-to-earnings ratio of 11.47 and a beta of 1.49. The company’s 50 day moving average is $105.02 and its 200-day moving average is $107.08. Prudential Financial, Inc. has a 1-year low of $78.50 and a 1-year high of $115.26.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $2.09 earnings per share for the quarter, missing the Thomson Reuters’ 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 business had revenue of $13.03 billion during the quarter, compared to analyst estimates of $12.45 billion. During the same quarter in the prior year, the company earned $1.84 earnings per share. On average, analysts predict that Prudential Financial, Inc. will post $10.14 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 14th. Stockholders of record on Tuesday, August 22nd were given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 2.92%. The ex-dividend date of this dividend was Friday, August 18th. Prudential Financial’s dividend payout ratio is 33.63%.

PRU has been the subject of several research reports. ValuEngine raised Prudential Financial from a “buy” rating to a “strong-buy” rating in a report on Friday, June 2nd. Royal Bank Of Canada reiterated a “hold” rating and set a $117.00 target price on shares of Prudential Financial in a research report on Wednesday, September 6th. BidaskClub cut Prudential Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Wells Fargo & Company reiterated a “hold” rating on shares of Prudential Financial in a research report on Thursday, August 3rd. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating on shares of Prudential Financial in a research report on Friday, August 11th. Ten research 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. Prudential Financial currently has an average rating of “Buy” and an average target price of $111.49.

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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