The Manufacturers Life Insurance Company reduced its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 50.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 507,443 shares of the financial services provider’s stock after selling 522,060 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.12% of Prudential Financial worth $54,875,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Fieldpoint Private Securities LLC acquired a new position in Prudential Financial during the 2nd quarter valued at about $103,000. Hudock Capital Group LLC increased its position in Prudential Financial by 0.7% during the 2nd quarter. Hudock Capital Group LLC now owns 1,144 shares of the financial services provider’s stock valued at $123,000 after buying an additional 8 shares in the last quarter. Guardian Life Insurance Co. of America increased its position in Prudential Financial by 0.3% during the 1st 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 in the last quarter. Accurate Investment Solutions Inc. increased its position in Prudential Financial by 2.3% during the 2nd 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 in the last quarter. Finally, Trust Co. of Vermont increased its position in Prudential Financial by 28.5% during the 2nd 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 in the last quarter. 64.45% of the stock is currently owned by institutional investors.

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PRU has been the topic of several recent analyst reports. Royal Bank Of Canada reaffirmed a “hold” rating and set a $117.00 target price on shares of Prudential Financial in a research report on Wednesday, September 6th. BidaskClub lowered Prudential Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Wells Fargo & Company reaffirmed a “hold” rating on shares of Prudential Financial in a research report on Thursday, August 3rd. Morgan Stanley upped their target price on Prudential Financial from $118.00 to $123.00 and gave the company an “equal weight” rating in a research report on Thursday, October 5th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating on shares of Prudential Financial in a research report on Friday, August 11th. Eight analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $114.30.

Shares of Prudential Financial, Inc. (PRU) traded down 0.432% on Wednesday, hitting $109.525. The stock had a trading volume of 161,791 shares. The stock has a 50 day moving average price of $104.06 and a 200-day moving average price of $106.62. The company has a market cap of $46.77 billion, a price-to-earnings ratio of 12.228 and a beta of 1.51. Prudential Financial, Inc. has a 12-month low of $82.45 and a 12-month high of $115.26.

Prudential Financial (NYSE:PRU) last posted its earnings results 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 firm had revenue of $13.03 billion during the quarter, compared to analysts’ expectations of $12.45 billion. During the same period in the previous year, the firm posted $1.84 earnings per share. On average, equities analysts expect that Prudential Financial, Inc. will post $10.17 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, September 14th. Stockholders of record on Tuesday, August 22nd were issued a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 2.73%. The ex-dividend date of this dividend was Friday, August 18th. Prudential Financial’s payout ratio is currently 33.63%.

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

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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