BlueMountain Capital Management LLC Lowers Position in Prudential Financial, Inc. (PRU)

BlueMountain Capital Management LLC lowered its position in Prudential Financial, Inc. (NYSE:PRU) by 28.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,384 shares of the financial services provider’s stock after selling 4,472 shares during the period. BlueMountain Capital Management LLC’s holdings in Prudential Financial were worth $1,231,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PRU. Hudock Capital Group LLC grew its holdings in shares of Prudential Financial by 0.7% in the 2nd quarter. Hudock Capital Group LLC now owns 1,144 shares of the financial services provider’s stock worth $123,000 after acquiring an additional 8 shares during the period. First Personal Financial Services grew its holdings in shares of Prudential Financial by 3.4% in the 1st quarter. First Personal Financial Services now owns 1,407 shares of the financial services provider’s stock worth $150,000 after acquiring an additional 46 shares during the period. Guardian Life Insurance Co. of America grew its holdings in shares of Prudential Financial by 0.3% in the 1st quarter. Guardian Life Insurance Co. of America now owns 1,658 shares of the financial services provider’s stock worth $177,000 after acquiring an additional 5 shares during the period. Accurate Investment Solutions Inc. grew its holdings in shares of Prudential Financial by 2.3% in the 2nd quarter. Accurate Investment Solutions Inc. now owns 1,664 shares of the financial services provider’s stock worth $180,000 after acquiring an additional 38 shares during the period. Finally, Trust Co. of Vermont grew its holdings in shares of Prudential Financial by 28.5% in the 2nd quarter. Trust Co. of Vermont now owns 1,711 shares of the financial services provider’s stock worth $185,000 after acquiring an additional 380 shares during the period. Institutional investors and hedge funds own 64.45% of the company’s stock.

In other Prudential Financial news, insider Nicholas C. Silitch sold 14,897 shares of Prudential Financial stock in a transaction that occurred 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 owns 21,274 shares in the company, valued at $2,340,140. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman John R. Strangfeld, Jr. sold 201,585 shares of Prudential Financial stock in a transaction that occurred 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 completion of the transaction, the chairman now 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 90 days, insiders sold 220,615 shares of company stock worth $24,276,660. 0.66% of the stock is currently owned by company insiders.

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A number of equities research analysts recently weighed in on the company. Keefe, Bruyette & Woods restated a “buy” rating on shares of Prudential Financial in a report on Friday, August 11th. BidaskClub cut Prudential Financial from a “buy” rating to a “hold” rating in a report on Saturday, August 12th. Wells Fargo & Company restated a “hold” rating on shares of Prudential Financial in a report on Thursday, August 3rd. Zacks Investment Research cut Prudential Financial from a “buy” rating to a “hold” rating in a report on Wednesday, June 14th. Finally, Royal Bank Of Canada restated a “hold” rating and issued a $113.00 price target on shares of Prudential Financial in a report on Tuesday, June 27th. Ten investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $111.49.

Shares of Prudential Financial, Inc. (NYSE PRU) opened at 104.31 on Wednesday. Prudential Financial, Inc. has a one year low of $78.50 and a one year high of $115.26. The firm’s 50-day moving average price is $104.48 and its 200-day moving average price is $106.88. The firm has a market cap of $44.54 billion, a PE ratio of 11.65 and a beta of 1.49.

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

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 14th. Shareholders of record on Tuesday, August 22nd were given a $0.75 dividend. The ex-dividend date was Friday, August 18th. This represents a $3.00 annualized dividend and a yield of 2.88%. Prudential Financial’s dividend payout ratio (DPR) is 33.63%.

Prudential Financial 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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