FIL Ltd lowered its stake in Prudential Financial, Inc. (NYSE:PRU) by 3.0% during the first quarter, Holdings Channel reports. The fund owned 397,022 shares of the financial services provider’s stock after selling 12,487 shares during the period. FIL Ltd’s holdings in Prudential Financial were worth $42,354,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Stratos Wealth Partners LTD. raised its position in shares of Prudential Financial by 1.3% in the first quarter. Stratos Wealth Partners LTD. now owns 6,103 shares of the financial services provider’s stock valued at $651,000 after buying an additional 77 shares during the last quarter. Rafferty Asset Management LLC increased its stake in Prudential Financial by 83.6% in the first quarter. Rafferty Asset Management LLC now owns 135,787 shares of the financial services provider’s stock worth $14,486,000 after buying an additional 61,818 shares during the period. O Shaughnessy Asset Management LLC increased its stake in Prudential Financial by 20.3% in the first quarter. O Shaughnessy Asset Management LLC now owns 77,504 shares of the financial services provider’s stock worth $8,268,000 after buying an additional 13,086 shares during the period. ClariVest Asset Management LLC increased its stake in Prudential Financial by 16.9% in the first quarter. ClariVest Asset Management LLC now owns 2,686 shares of the financial services provider’s stock worth $286,000 after buying an additional 388 shares during the period. Finally, Oarsman Capital Inc. increased its stake in Prudential Financial by 34.9% in the first quarter. Oarsman Capital Inc. now owns 23,392 shares of the financial services provider’s stock worth $2,495,000 after buying an additional 6,050 shares during the period. 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) opened at 103.36 on Monday. The firm has a 50-day moving average price of $106.54 and a 200-day moving average price of $106.89. The company has a market capitalization of $44.34 billion, a PE ratio of 10.49 and a beta of 1.49. Prudential Financial, Inc. has a 1-year low of $66.51 and a 1-year high of $114.55.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Wednesday, May 3rd. The financial services provider reported $2.79 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 8.52% and a net margin of 7.78%. During the same quarter in the previous year, the firm earned $2.18 earnings per share. Equities analysts anticipate that Prudential Financial, Inc. will post $10.64 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Tuesday, May 23rd were paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date was Friday, May 19th. Prudential Financial’s dividend payout ratio is currently 30.46%.

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A number of analysts recently issued reports on PRU shares. Keefe, Bruyette & Woods reissued a “buy” rating and set a $117.00 target price on shares of Prudential Financial in a research report on Tuesday, March 21st. Zacks Investment Research raised shares of Prudential Financial from a “hold” rating to a “buy” rating and set a $117.00 target price for the company in a research report on Tuesday, April 18th. Vetr raised shares of Prudential Financial from a “hold” rating to a “buy” rating and set a $109.90 target price for the company in a research report on Wednesday, March 22nd. Credit Suisse Group reissued a “hold” rating and set a $121.00 target price on shares of Prudential Financial in a research report on Thursday, April 27th. Finally, ValuEngine raised shares of Prudential Financial from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 2nd. Nine research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $108.84.

In other news, insider Charles F. Lowrey sold 222,857 shares of the company’s stock in a transaction on Monday, May 8th. The stock was sold at an average price of $108.04, for a total transaction of $24,077,470.28. Following the transaction, the insider now owns 151,418 shares of the company’s stock, valued at $16,359,200.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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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