California Public Employees Retirement System decreased its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 2.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,142,345 shares of the financial services provider’s stock after selling 26,000 shares during the period. California Public Employees Retirement System owned 0.27% of Prudential Financial worth $123,533,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of PRU. Swiss National Bank lifted its position in Prudential Financial by 25.2% during the 1st quarter. Swiss National Bank now owns 1,523,687 shares of the financial services provider’s stock valued at $162,547,000 after purchasing an additional 306,300 shares during the period. World Asset Management Inc lifted its position in Prudential Financial by 9.6% during the 1st quarter. World Asset Management Inc now owns 44,656 shares of the financial services provider’s stock valued at $4,764,000 after purchasing an additional 3,924 shares during the period. UBS Asset Management Americas Inc. lifted its position in Prudential Financial by 2.3% during the 1st quarter. UBS Asset Management Americas Inc. now owns 1,760,671 shares of the financial services provider’s stock valued at $187,828,000 after purchasing an additional 39,435 shares during the period. Meadow Creek Investment Management LLC lifted its position in Prudential Financial by 106.7% during the 1st quarter. Meadow Creek Investment Management LLC now owns 113,278 shares of the financial services provider’s stock valued at $12,084,000 after purchasing an additional 58,476 shares during the period. Finally, Intrust Bank NA lifted its position in Prudential Financial by 0.9% during the 1st quarter. Intrust Bank NA now owns 15,456 shares of the financial services provider’s stock valued at $1,649,000 after purchasing an additional 132 shares during the period. Institutional investors and hedge funds own 64.45% of the company’s stock.

A number of research firms have issued reports on PRU. Wells Fargo & Company restated a “hold” rating on shares of Prudential Financial in a research report on Thursday, August 3rd. BidaskClub raised Prudential Financial from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. Zacks Investment Research cut Prudential Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, June 14th. ValuEngine raised Prudential Financial from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 2nd. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating on shares of Prudential Financial in a research note on Friday, August 11th. Ten equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $111.49.

In other news, Chairman John R. Strangfeld, Jr. sold 201,585 shares of the company’s stock in a transaction on 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 transaction, the chairman now owns 456,121 shares of the company’s stock, valued at approximately $50,173,310. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Nicholas C. Silitch sold 14,897 shares of the company’s stock in a transaction on 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 transaction, the insider now directly owns 21,274 shares in the company, valued at approximately $2,340,140. The disclosure for this sale can be found here. Insiders have sold a total of 220,615 shares of company stock worth $24,276,660 in the last ninety days. Insiders own 0.66% of the company’s stock.

Shares of Prudential Financial, Inc. (PRU) traded up 0.23% during midday trading on Thursday, reaching $105.41. The company’s stock had a trading volume of 477,349 shares. The stock has a market cap of $45.01 billion, a PE ratio of 11.77 and a beta of 1.49. Prudential Financial, Inc. has a one year low of $78.50 and a one year high of $115.26. The firm has a 50-day moving average of $104.48 and a 200-day moving average of $106.88.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $2.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.70 by ($0.61). The business had revenue of $13.03 billion during the quarter, compared to the consensus estimate of $12.45 billion. Prudential Financial had a net margin of 7.15% and a return on equity of 8.98%. During the same quarter last year, the company earned $1.84 EPS. On average, analysts forecast that Prudential Financial, Inc. will post $10.14 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, September 14th. Stockholders of record on Tuesday, August 22nd were given a dividend of $0.75 per share. The ex-dividend date was Friday, August 18th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.85%. Prudential Financial’s dividend payout ratio is presently 33.63%.

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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.

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

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