BTC Capital Management Inc. raised its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 2.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,279 shares of the financial services provider’s stock after buying an additional 824 shares during the period. BTC Capital Management Inc.’s holdings in Prudential Financial were worth $3,921,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of PRU. BlackRock Inc. raised its position in Prudential Financial by 3,296.9% in the first 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 last quarter. Vanguard Group Inc. raised its position in Prudential Financial by 3.3% in the first 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 last quarter. Old Mutual Global Investors UK Ltd. raised its position in Prudential Financial by 971,689.7% in the first quarter. Old Mutual Global Investors UK Ltd. now owns 942,636 shares of the financial services provider’s stock valued at $100,560,000 after buying an additional 942,539 shares during the last quarter. Acadian Asset Management LLC raised its position in Prudential Financial by 2,179.5% in the second 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 last quarter. Finally, Bank of Montreal Can raised its position in Prudential Financial by 85.2% in the second quarter. Bank of Montreal Can now owns 1,452,721 shares of the financial services provider’s stock valued at $157,097,000 after buying an additional 668,233 shares during the last quarter. 63.51% of the stock is currently owned by institutional investors.

Shares of Prudential Financial, Inc. (NYSE PRU) opened at 106.06 on Friday. The firm has a market capitalization of $45.29 billion, a P/E ratio of 11.84 and a beta of 1.50. The stock has a 50 day moving average of $110.35 and a 200-day moving average of $108.11. Prudential Financial, Inc. has a 12-month low of $74.85 and a 12-month high of $115.26.

Prudential Financial (NYSE:PRU) last announced its earnings results on Wednesday, August 2nd. The financial services provider reported $2.09 earnings per share (EPS) for the quarter, missing the 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 for the quarter, compared to analysts’ expectations of $12.45 billion. During the same period in the prior year, the business earned $1.84 earnings per share. On average, equities research analysts predict that Prudential Financial, Inc. will post $10.22 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 14th. Stockholders of record on Tuesday, August 22nd will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 2.83%. The ex-dividend date of this dividend is Friday, August 18th. Prudential Financial’s dividend payout ratio is presently 33.63%.

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Several research analysts recently weighed in on the stock. BidaskClub raised shares of Prudential Financial from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. Wells Fargo & Company reissued a “hold” rating on shares of Prudential Financial in a research note on Thursday, August 3rd. Zacks Investment Research lowered shares of Prudential Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, June 14th. Credit Suisse Group reissued a “hold” rating and set a $121.00 price objective on shares of Prudential Financial in a research note on Thursday, April 27th. Finally, ValuEngine raised shares of Prudential Financial from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 2nd. Nine research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $111.21.

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 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 sale was disclosed in a legal filing with the SEC, which is available at 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 value of $22,174,350.00. Following the sale, the chairman now directly owns 456,121 shares of the company’s stock, valued at $50,173,310. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

Prudential Financial Company Profile

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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