Asset Management One Co. Ltd. Reduces Stake in Prudential Financial, Inc. (PRU)

Asset Management One Co. Ltd. decreased its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 7.4% during the first quarter, Holdings Channel reports. The institutional investor owned 761,549 shares of the financial services provider’s stock after selling 60,458 shares during the period. Asset Management One Co. Ltd.’s holdings in Prudential Financial were worth $81,290,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Adirondack Trust Co. raised its stake in shares of Prudential Financial by 7.6% in the first quarter. Adirondack Trust Co. now owns 1,133 shares of the financial services provider’s stock worth $121,000 after buying an additional 80 shares in the last quarter. Seven Eight Capital LP bought a new stake in shares of Prudential Financial during the fourth quarter worth $130,000. Patriot Financial Group Insurance Agency LLC bought a new stake in shares of Prudential Financial during the fourth quarter worth $134,000. Quadrant Capital Group LLC raised its stake in shares of Prudential Financial by 11.1% in the first quarter. Quadrant Capital Group LLC now owns 1,376 shares of the financial services provider’s stock worth $139,000 after buying an additional 137 shares in the last quarter. Finally, First Personal Financial Services raised its stake in shares of 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 worth $150,000 after buying an additional 46 shares in the last quarter. Institutional investors and hedge funds own 62.99% of the company’s stock.

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

Shares of Prudential Financial, Inc. (NYSE:PRU) traded down 0.3252% on Tuesday, reaching $108.1272. 60,501 shares of the company traded hands. The company has a 50-day moving average of $106.54 and a 200-day moving average of $106.85. Prudential Financial, Inc. has a 1-year low of $66.51 and a 1-year high of $114.55. The stock has a market capitalization of $46.39 billion, a price-to-earnings ratio of 10.9707 and a beta of 1.49.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Wednesday, May 3rd. The financial services provider reported $2.79 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.64 by $0.15. The company had revenue of $13.24 billion for the quarter, compared to analyst estimates of $12.75 billion. Prudential Financial had a net margin of 7.78% and a return on equity of 8.52%. During the same quarter last year, the business earned $2.18 earnings per share. Analysts anticipate that Prudential Financial, Inc. will post $10.65 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Tuesday, May 23rd were given a dividend of $0.75 per share. The ex-dividend date was Friday, May 19th. This represents a $3.00 annualized dividend and a yield of 2.77%. Prudential Financial’s dividend payout ratio is presently 30.46%.

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A number of equities research analysts have recently issued reports on PRU shares. BidaskClub raised shares of Prudential Financial from a “sell” rating to a “hold” rating in a research report on Friday. Zacks Investment Research downgraded shares of Prudential Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, June 14th. Wells Fargo & Co reissued a “hold” rating on shares of Prudential Financial in a research report on Tuesday, June 6th. ValuEngine raised shares of Prudential Financial from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 2nd. Finally, J P Morgan Chase & Co boosted their price objective on shares of Prudential Financial from $108.00 to $113.00 and gave the company an “overweight” rating in a research report on Monday, April 3rd. Nine equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $108.84.

In related news, insider Charles F. Lowrey sold 222,857 shares of the firm’s stock in a transaction on Monday, May 8th. The shares were sold at an average price of $108.04, for a total transaction of $24,077,470.28. Following the sale, the insider now owns 151,418 shares in the company, valued at $16,359,200.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.66% of the stock is currently owned by company 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.

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).

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