BlueCrest Capital Management Ltd acquired a new stake in shares of Prudential Financial, Inc. (NYSE:PRU) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 14,268 shares of the financial services provider’s stock, valued at approximately $1,543,000.

Other large investors also recently added to or reduced their stakes in the company. Fieldpoint Private Securities LLC purchased a new stake in shares of Prudential Financial during the second quarter valued at approximately $103,000. Hudock Capital Group LLC boosted its stake in shares of Prudential Financial by 0.7% during the second quarter. Hudock Capital Group LLC now owns 1,144 shares of the financial services provider’s stock valued at $123,000 after purchasing an additional 8 shares during the period. Guardian Life Insurance Co. of America boosted its stake in shares of Prudential Financial by 0.3% during 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 purchasing an additional 5 shares during the period. Accurate Investment Solutions Inc. boosted its stake in shares of Prudential Financial by 2.3% during the second quarter. Accurate Investment Solutions Inc. now owns 1,664 shares of the financial services provider’s stock valued at $180,000 after purchasing an additional 38 shares during the period. Finally, Trust Co. of Vermont boosted its stake in shares of Prudential Financial by 28.5% during the second quarter. Trust Co. of Vermont now owns 1,711 shares of the financial services provider’s stock valued at $185,000 after purchasing an additional 380 shares during the period. 64.45% of the stock is owned by hedge funds and other institutional investors.

A number of research firms have recently weighed in on PRU. Zacks Investment Research raised Prudential Financial from a “hold” rating to a “buy” rating and set a $122.00 price objective for the company in a research note on Tuesday. FBR & Co raised Prudential Financial from a “neutral” rating to a “buy” rating and dropped their price objective for the company from $117.00 to $100.00 in a research note on Tuesday. Morgan Stanley increased their price objective on Prudential Financial from $118.00 to $123.00 and gave the company an “equal weight” rating in a research note on Thursday, October 5th. Royal Bank Of Canada reissued a “hold” rating and set a $117.00 price objective on shares of Prudential Financial in a research note on Wednesday, September 6th. Finally, BidaskClub lowered Prudential Financial from a “buy” rating to a “hold” rating in a research note on Saturday, August 12th. Eight research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $114.30.

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Shares of Prudential Financial, Inc. (NYSE:PRU) traded down 0.41% during mid-day trading on Thursday, reaching $109.56. The company had a trading volume of 59,251 shares. The stock has a market capitalization of $46.78 billion, a price-to-earnings ratio of 12.23 and a beta of 1.51. Prudential Financial, Inc. has a 1-year low of $82.45 and a 1-year high of $115.26. The firm has a 50-day moving average price of $104.29 and a 200-day moving average price of $106.64.

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

The company also recently announced a quarterly dividend, which was paid on Thursday, September 14th. Shareholders of record on Tuesday, August 22nd were issued a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 2.73%. The ex-dividend date of this dividend was Friday, August 18th. Prudential Financial’s dividend payout ratio is 33.63%.

In other Prudential Financial news, insider Nicholas C. Silitch sold 14,897 shares of the company’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $110.00, for a total value of $1,638,670.00. Following the completion of the sale, the insider now directly owns 21,274 shares in the company, valued at approximately $2,340,140. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Stephen Pelletier sold 4,133 shares of the company’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $112.18, for a total value of $463,639.94. Following the completion of the sale, the insider now owns 10,924 shares of the company’s stock, valued at $1,225,454.32. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by corporate insiders.

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.

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

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