Prudential Financial, Inc. (NYSE:PRU) Shares Sold by TD Asset Management Inc.

TD Asset Management Inc. reduced its stake in Prudential Financial, Inc. (NYSE:PRU) by 8.8% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 252,230 shares of the financial services provider’s stock after selling 24,272 shares during the period. TD Asset Management Inc. owned 0.06% of Prudential Financial worth $27,276,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in PRU. BKD Wealth Advisors LLC boosted its stake in Prudential Financial by 51.4% in the first quarter. BKD Wealth Advisors LLC now owns 4,030 shares of the financial services provider’s stock valued at $430,000 after buying an additional 1,369 shares in the last quarter. Westpac Banking Corp boosted its stake in Prudential Financial by 103.7% in the first quarter. Westpac Banking Corp now owns 54,100 shares of the financial services provider’s stock valued at $5,100,000 after buying an additional 27,536 shares in the last quarter. Financial Counselors Inc. boosted its stake in Prudential Financial by 3.4% in the first quarter. Financial Counselors Inc. now owns 72,807 shares of the financial services provider’s stock valued at $7,767,000 after buying an additional 2,365 shares in the last quarter. BLB&B Advisors LLC boosted its stake in Prudential Financial by 7.3% in the first quarter. BLB&B Advisors LLC now owns 2,192 shares of the financial services provider’s stock valued at $234,000 after buying an additional 150 shares in the last quarter. Finally, Vicus Capital bought a new stake in Prudential Financial during the first quarter valued at about $235,000. 63.51% of the stock is currently owned by institutional investors and hedge funds.

Prudential Financial, Inc. (NYSE PRU) opened at 106.06 on Friday. Prudential Financial, Inc. has a 52-week low of $74.85 and a 52-week high of $115.26. The stock’s 50 day moving average is $110.35 and its 200-day moving average is $108.11. The firm has a market capitalization of $45.29 billion, a PE ratio of 11.84 and a beta of 1.50.

Prudential Financial (NYSE:PRU) last posted its earnings results on Wednesday, August 2nd. The financial services provider reported $2.09 earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $12.45 billion. During the same quarter last year, the company posted $1.84 EPS. Equities analysts expect that Prudential Financial, Inc. will post $10.22 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 14th. Shareholders of record on Tuesday, August 22nd will be issued a dividend of $0.75 per share. The ex-dividend date is Friday, August 18th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.83%. Prudential Financial’s dividend payout ratio (DPR) is 33.63%.

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PRU has been the topic of several research analyst reports. Zacks Investment Research raised shares of Prudential Financial from a “hold” rating to a “buy” rating and set a $117.00 target price on the stock in a research report on Tuesday, April 18th. Credit Suisse Group reissued a “hold” rating and issued a $121.00 target price on shares of Prudential Financial in a research report on Thursday, April 27th. ValuEngine raised shares of Prudential Financial from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 2nd. BidaskClub cut shares of Prudential Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Finally, Wells Fargo & Company reaffirmed a “hold” rating on shares of Prudential Financial in a research report on Thursday, August 3rd. Nine analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Prudential Financial currently has a consensus rating of “Buy” and a consensus target price of $111.21.

In other Prudential Financial news, insider Stephen Pelletier sold 4,133 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $112.18, for a total transaction of $463,639.94. Following the transaction, the insider now owns 10,924 shares in the company, valued at approximately $1,225,454.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman John R. Strangfeld, Jr. sold 201,585 shares of the company’s stock in a transaction that occurred 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 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. 0.66% of the stock is currently owned by corporate insiders.

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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