Schwab Charles Investment Management Inc. raised its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 4.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,406,368 shares of the financial services provider’s stock after buying an additional 64,810 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Prudential Financial were worth $152,085,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of PRU. Guardian Life Insurance Co. of America raised its stake in Prudential Financial by 0.3% in the first 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 during the last quarter. Sigma Planning Corp raised its stake in Prudential Financial by 0.3% in the first quarter. Sigma Planning Corp now owns 3,449 shares of the financial services provider’s stock valued at $368,000 after buying an additional 10 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA raised its stake in Prudential Financial by 0.9% in the second quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,018 shares of the financial services provider’s stock valued at $218,000 after buying an additional 18 shares during the last quarter. Trust Co raised its stake in Prudential Financial by 1.0% in the first quarter. Trust Co now owns 2,024 shares of the financial services provider’s stock valued at $216,000 after buying an additional 20 shares during the last quarter. Finally, Cleararc Capital Inc. raised its stake in Prudential Financial by 0.4% in the first quarter. Cleararc Capital Inc. now owns 10,492 shares of the financial services provider’s stock valued at $1,119,000 after buying an additional 38 shares during the last quarter. 63.51% of the stock is currently owned by institutional investors.

Prudential Financial, Inc. (NYSE:PRU) opened at 105.69 on Friday. Prudential Financial, Inc. has a 52-week low of $75.20 and a 52-week high of $115.26. The firm has a market cap of $45.13 billion, a P/E ratio of 11.80 and a beta of 1.50. The company’s 50 day moving average is $110.42 and its 200 day moving average is $108.12.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data 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 company had revenue of $13.03 billion for the quarter, compared to analysts’ expectations of $12.45 billion. Prudential Financial had a return on equity of 8.98% and a net margin of 7.15%. During the same period in the prior year, the firm posted $1.84 EPS. Equities research analysts forecast that Prudential Financial, Inc. will post $10.22 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 14th. Investors of record on Tuesday, August 22nd will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date of this dividend is Friday, August 18th. Prudential Financial’s dividend payout ratio is currently 33.63%.

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Several research firms have commented on PRU. Keefe, Bruyette & Woods reaffirmed a “buy” rating on shares of Prudential Financial in a report on Friday. Deutsche Bank AG upped their price target on shares of Prudential Financial from $114.00 to $117.00 and gave the company a “buy” rating in a report on Wednesday, April 19th. Zacks Investment Research lowered shares of Prudential Financial from a “buy” rating to a “hold” rating in a report on Wednesday, June 14th. BidaskClub raised shares of Prudential Financial from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Finally, Wells Fargo & Company reissued a “hold” rating on shares of Prudential Financial in a research note on Tuesday, June 6th. Nine research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $111.21.

In related news, insider Stephen Pelletier sold 4,133 shares of the business’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $112.18, for a total transaction of $463,639.94. Following the sale, the insider now owns 10,924 shares of the company’s stock, valued at $1,225,454.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman John R. Strangfeld, Jr. sold 201,585 shares of the business’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $110.00, for a total transaction of $22,174,350.00. Following the sale, the chairman now directly owns 456,121 shares in the company, valued at approximately $50,173,310. The disclosure for this sale can be found here. In the last three months, insiders have sold 220,615 shares of company stock worth $24,276,660. 0.66% of the stock is owned by insiders.

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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