Prudential Financial, Inc. (NYSE:PRU) Stake Increased by Copper Rock Capital Partners LLC

Copper Rock Capital Partners LLC boosted its stake in Prudential Financial, Inc. (NYSE:PRU) by 63.9% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 4,396 shares of the financial services provider’s stock after buying an additional 1,714 shares during the period. Copper Rock Capital Partners LLC’s holdings in Prudential Financial were worth $457,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. boosted its position in 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 valued at $3,437,330,000 after buying an additional 31,272,429 shares in the last quarter. Vanguard Group Inc. boosted its position in 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 valued at $3,229,469,000 after buying an additional 968,500 shares in the last quarter. Old Mutual Global Investors UK Ltd. boosted its position in Prudential Financial by 971,689.7% in the first quarter. Old Mutual Global Investors UK Ltd. now owns 942,636 shares of the financial services provider’s stock valued at $100,560,000 after buying an additional 942,539 shares in the last quarter. NN Investment Partners Holdings N.V. boosted its position in Prudential Financial by 558.9% in the first quarter. NN Investment Partners Holdings N.V. now owns 777,602 shares of the financial services provider’s stock valued at $82,954,000 after buying an additional 659,595 shares in the last quarter. Finally, AQR Capital Management LLC boosted its position in Prudential Financial by 44.3% in the first quarter. AQR Capital Management LLC now owns 1,913,986 shares of the financial services provider’s stock valued at $204,184,000 after buying an additional 587,552 shares in the last quarter. 63.17% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Prudential Financial, Inc. (NYSE PRU) opened at 111.28 on Tuesday. Prudential Financial, Inc. has a one year low of $72.25 and a one year high of $114.55. The firm’s 50-day moving average is $105.88 and its 200-day moving average is $106.87. The company has a market cap of $47.74 billion, a PE ratio of 11.29 and a beta of 1.49.

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

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PRU has been the topic of several recent analyst reports. Vetr raised shares of Prudential Financial from a “hold” rating to a “buy” rating and set a $109.90 target price on the stock in a research report on Wednesday, March 22nd. 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. Deutsche Bank AG lifted their price target on shares of Prudential Financial from $114.00 to $117.00 and gave the stock a “buy” rating in a report on Wednesday, April 19th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $117.00 price target on shares of Prudential Financial in a report on Tuesday, March 21st. Finally, BidaskClub cut shares of Prudential Financial from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th. Nine 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 company has a consensus rating of “Buy” and a consensus price target of $111.21.

In other Prudential Financial news, Chairman John R. Strangfeld, Jr. sold 201,585 shares of the stock in a transaction that occurred on 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 transaction, the chairman now directly owns 456,121 shares in the company, valued at $50,173,310. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Charles F. Lowrey sold 222,857 shares of the stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $108.04, for a total transaction of $24,077,470.28. Following the completion of the transaction, the insider now owns 151,418 shares in the company, valued at $16,359,200.72. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by company 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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