Teacher Retirement System of Texas boosted its position in Prudential Financial, Inc. (NYSE:PRU) by 93.0% during the second quarter, Holdings Channel reports. The fund owned 86,361 shares of the financial services provider’s stock after buying an additional 41,614 shares during the period. Teacher Retirement System of Texas’ holdings in Prudential Financial were worth $9,339,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. BlackRock Inc. increased its position in shares of 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 worth $3,437,330,000 after buying an additional 31,272,429 shares during the last quarter. Vanguard Group Inc. increased its position in shares of 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 worth $3,229,469,000 after buying an additional 968,500 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Prudential Financial by 9.4% in the first quarter. Geode Capital Management LLC now owns 4,297,520 shares of the financial services provider’s stock worth $457,822,000 after buying an additional 368,321 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Prudential Financial by 2.8% in the first quarter. Dimensional Fund Advisors LP now owns 2,998,472 shares of the financial services provider’s stock worth $319,880,000 after buying an additional 81,327 shares during the last quarter. Finally, Legal & General Group Plc increased its position in shares of Prudential Financial by 1.7% in the first quarter. Legal & General Group Plc now owns 2,247,784 shares of the financial services provider’s stock worth $239,794,000 after buying an additional 38,540 shares during the last quarter. Hedge funds and other institutional investors own 63.58% of the company’s stock.

Shares of Prudential Financial, Inc. (PRU) opened at 106.74 on Tuesday. Prudential Financial, Inc. has a 52 week low of $74.85 and a 52 week high of $115.26. The firm has a market cap of $45.58 billion, a P/E ratio of 11.92 and a beta of 1.50. The stock’s 50 day moving average is $110.52 and its 200 day moving average is $108.14.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $2.09 EPS for the quarter, missing the Thomson Reuters’ 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 during the quarter, compared to analyst estimates of $12.45 billion. During the same period last year, the firm posted $1.84 earnings per share. On average, equities research analysts predict that Prudential Financial, Inc. will post $10.21 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 14th. Stockholders of record on Tuesday, August 22nd will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 2.81%. The ex-dividend date of this dividend is Friday, August 18th. Prudential Financial’s dividend payout ratio (DPR) is presently 33.63%.

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A number of equities analysts recently commented on PRU shares. Deutsche Bank AG boosted their target price on shares of Prudential Financial from $114.00 to $117.00 and gave the stock a “buy” rating in a research note on Wednesday, April 19th. Wells Fargo & Company restated a “hold” rating on shares of Prudential Financial in a research note on Thursday, August 3rd. BidaskClub upgraded shares of Prudential Financial from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. ValuEngine upgraded shares of Prudential Financial from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 2nd. Finally, Zacks Investment Research downgraded shares of Prudential Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, June 14th. Ten equities research 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 company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $111.21.

In other news, Chairman John R. Strangfeld, Jr. sold 201,585 shares of Prudential Financial stock in a transaction dated 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 completion of the transaction, the chairman now directly owns 456,121 shares of the company’s stock, valued at approximately $50,173,310. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Nicholas C. Silitch sold 14,897 shares of Prudential Financial stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $110.00, for a total transaction of $1,638,670.00. Following the completion of the transaction, the insider now directly owns 21,274 shares of the company’s stock, valued at $2,340,140. The disclosure for this sale can be found here. Insiders sold a total of 220,615 shares of company stock valued at $24,276,660 over the last ninety days. 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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