State Street Corp reduced its position in Prudential Financial, Inc. (NYSE:PRU) by 2.6% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 19,675,850 shares of the financial services provider’s stock after selling 531,701 shares during the quarter. State Street Corp owned about 4.61% of Prudential Financial worth $2,127,750,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently made changes to their positions in PRU. BlackRock Inc. increased its stake in Prudential Financial by 3,296.9% in the 1st 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. Janus Henderson Group PLC increased its stake in Prudential Financial by 1,997.1% in the 2nd quarter. Janus Henderson Group PLC now owns 1,204,160 shares of the financial services provider’s stock valued at $130,218,000 after buying an additional 1,146,739 shares during the period. Vanguard Group Inc. increased its stake in 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 buying an additional 968,500 shares during the period. AJO LP increased its stake in 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 buying an additional 821,881 shares during the period. Finally, Acadian Asset Management LLC increased its stake in 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 buying an additional 698,835 shares during the period. 64.45% of the stock is currently owned by institutional investors.

COPYRIGHT VIOLATION WARNING: “State Street Corp Sells 531,701 Shares of Prudential Financial, Inc. (PRU)” was originally reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this piece on another publication, it was copied illegally and republished in violation of U.S. & international trademark & copyright legislation. The original version of this piece can be read at https://www.thecerbatgem.com/2017/10/06/state-street-corp-sells-531701-shares-of-prudential-financial-inc-pru.html.

In other news, insider Stephen Pelletier sold 4,133 shares of the firm’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $112.18, for a total transaction of $463,639.94. Following the transaction, the insider now directly owns 10,924 shares of the company’s stock, valued at $1,225,454.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nicholas C. Silitch sold 14,897 shares of the firm’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $110.00, for a total value of $1,638,670.00. Following the transaction, the insider now directly owns 21,274 shares in the company, valued at $2,340,140. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by company insiders.

PRU has been the topic of several recent research reports. BidaskClub raised shares of Prudential Financial from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Keefe, Bruyette & Woods reissued a “buy” rating on shares of Prudential Financial in a research note on Friday, August 11th. Morgan Stanley boosted their price objective on shares of Prudential Financial from $118.00 to $123.00 and gave the company an “equal weight” rating in a research note on Thursday. Royal Bank Of Canada reissued a “hold” rating and issued a $117.00 price objective on shares of Prudential Financial in a research note on Wednesday, September 6th. Finally, Wells Fargo & Company reissued a “hold” rating on shares of Prudential Financial in a research note on Thursday, August 3rd. Nine analysts have rated the stock with a hold rating, six have given 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 price target of $113.66.

Shares of Prudential Financial, Inc. (NYSE PRU) traded up 0.087% during midday trading on Friday, hitting $109.355. 573,965 shares of the company’s stock traded hands. The stock has a market cap of $46.69 billion, a P/E ratio of 12.209 and a beta of 1.51. Prudential Financial, Inc. has a 52 week low of $82.45 and a 52 week high of $115.26. The company has a 50 day moving average of $103.40 and a 200 day moving average of $106.54.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $2.09 EPS for the quarter, missing analysts’ consensus estimates of $2.70 by ($0.61). The business had revenue of $13.03 billion for the quarter, compared to analyst estimates 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 earnings per share. On average, equities analysts forecast that Prudential Financial, Inc. will post $10.14 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 14th. Stockholders of record on Tuesday, August 22nd were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date was Friday, August 18th. Prudential Financial’s dividend payout ratio (DPR) is 33.63%.

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.

Want to see what other hedge funds are holding PRU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Prudential Financial, Inc. (NYSE:PRU).

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

Receive News & Stock Ratings for Prudential Financial Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prudential Financial Inc. and related stocks with our FREE daily email newsletter.