Xact Kapitalforvaltning AB raised its stake in Prudential Financial, Inc. (NYSE:PRU) by 9.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 101,780 shares of the financial services provider’s stock after buying an additional 9,007 shares during the period. Xact Kapitalforvaltning AB’s holdings in Prudential Financial were worth $11,006,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in PRU. Adirondack Trust Co. boosted its stake in Prudential Financial by 7.6% in the first quarter. Adirondack Trust Co. now owns 1,133 shares of the financial services provider’s stock valued at $121,000 after buying an additional 80 shares during the last quarter. Quadrant Capital Group LLC boosted its stake in Prudential Financial by 11.1% in the first quarter. Quadrant Capital Group LLC now owns 1,376 shares of the financial services provider’s stock valued at $139,000 after buying an additional 137 shares during the last quarter. First Personal Financial Services boosted its stake in Prudential Financial by 3.4% in the first quarter. First Personal Financial Services now owns 1,407 shares of the financial services provider’s stock valued at $150,000 after buying an additional 46 shares during the last quarter. Guardian Life Insurance Co. of America boosted 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. Finally, Ledyard National Bank boosted its stake in Prudential Financial by 4,178.6% in the first quarter. Ledyard National Bank now owns 1,797 shares of the financial services provider’s stock valued at $192,000 after buying an additional 1,755 shares during the last quarter. 63.17% of the stock is owned by institutional investors and hedge funds.

Prudential Financial, Inc. (NYSE:PRU) opened at 110.60 on Wednesday. The company has a market cap of $47.45 billion, a price-to-earnings ratio of 11.22 and a beta of 1.49. The stock has a 50 day moving average price of $107.69 and a 200 day moving average price of $107.35. Prudential Financial, Inc. has a 52 week low of $72.25 and a 52 week high of $114.55.

Prudential Financial (NYSE:PRU) last posted its earnings results on Wednesday, May 3rd. The financial services provider reported $2.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.64 by $0.15. The firm had revenue of $13.24 billion for the quarter, compared to the consensus estimate of $12.75 billion. Prudential Financial had a return on equity of 8.52% and a net margin of 7.78%. During the same quarter in the prior year, the business posted $2.18 earnings per share. On average, equities analysts forecast that Prudential Financial, Inc. will post $10.67 earnings per share for the current year.

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PRU has been the subject of several research reports. Keefe, Bruyette & Woods reissued a “buy” rating and set a $117.00 price target on shares of Prudential Financial in a report on Tuesday, March 21st. Vetr raised Prudential Financial from a “hold” rating to a “buy” rating and set a $109.90 price target for the company in a report on Wednesday, March 22nd. J P Morgan Chase & Co lifted their price target on Prudential Financial from $108.00 to $113.00 and gave the stock an “overweight” rating in a report on Monday, April 3rd. Zacks Investment Research raised Prudential Financial from a “hold” rating to a “buy” rating and set a $117.00 price target for the company in a report on Tuesday, April 18th. Finally, Deutsche Bank AG lifted their price target on Prudential Financial from $114.00 to $117.00 and gave the stock a “buy” rating in a report on Wednesday, April 19th. Nine equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $111.21.

In related news, insider Charles F. Lowrey sold 222,857 shares of the stock in a transaction on Monday, May 8th. The stock was sold at an average price of $108.04, for a total value of $24,077,470.28. Following the sale, the insider now owns 151,418 shares in the company, valued at $16,359,200.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman John R. Strangfeld, Jr. sold 201,585 shares of the stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $110.00, for a total value of $22,174,350.00. Following the completion of the sale, 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. 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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