Home / FINANCIAL NEWS / Ontario Teachers Pension Plan Board Has $6.25 Million Holdings in Prudential Financial, Inc. (PRU)

Ontario Teachers Pension Plan Board Has $6.25 Million Holdings in Prudential Financial, Inc. (PRU)

Ontario Teachers Pension Plan Board trimmed its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 7.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 57,802 shares of the financial services provider’s stock after selling 4,412 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Prudential Financial were worth $6,251,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PRU. BlackRock Inc. boosted its position in Prudential Financial by 3,296.9% during 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 during the period. Vanguard Group Inc. boosted its position in Prudential Financial by 3.3% during 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 during the period. AJO LP boosted its position in Prudential Financial by 42.8% during the second quarter. AJO LP now owns 2,743,406 shares of the financial services provider’s stock valued at $296,672,000 after buying an additional 821,881 shares during the period. Acadian Asset Management LLC boosted its position in Prudential Financial by 2,179.5% during the second quarter. Acadian Asset Management LLC now owns 730,899 shares of the financial services provider’s stock valued at $79,040,000 after buying an additional 698,835 shares during the period. Finally, Bank of Montreal Can boosted its position in Prudential Financial by 85.2% during the second quarter. Bank of Montreal Can now owns 1,452,721 shares of the financial services provider’s stock valued at $157,097,000 after buying an additional 668,233 shares during the period. Institutional investors and hedge funds own 64.45% of the company’s stock.

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In other Prudential Financial news, Chairman John R. Strangfeld, Jr. sold 201,585 shares of the business’s 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 sale, 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 filing with the SEC, which is available through this link. Also, insider Stephen Pelletier sold 4,133 shares of the business’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $112.18, for a total transaction of $463,639.94. Following the completion of the sale, the insider now directly owns 10,924 shares of the company’s stock, valued at $1,225,454.32. The disclosure for this sale can be found here. Over the last three months, insiders sold 220,615 shares of company stock valued at $24,276,660. 0.66% of the stock is owned by corporate insiders.

Several research firms have issued reports on PRU. Royal Bank Of Canada restated a “hold” rating and set a $117.00 price target on shares of Prudential Financial in a research report on Wednesday, September 6th. BidaskClub lowered shares of Prudential Financial from a “buy” rating to a “hold” rating in a research report on Saturday, August 12th. Keefe, Bruyette & Woods restated a “buy” rating on shares of Prudential Financial in a research report on Friday, August 11th. Wells Fargo & Company restated a “hold” rating on shares of Prudential Financial in a research report on Thursday, August 3rd. Finally, Zacks Investment Research lowered shares of Prudential Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, June 14th. Ten research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Prudential Financial currently has a consensus rating of “Hold” and a consensus price target of $112.92.

Prudential Financial, Inc. (NYSE:PRU) opened at 106.32 on Friday. The company has a 50-day moving average of $104.48 and a 200-day moving average of $106.88. Prudential Financial, Inc. has a 1-year low of $78.50 and a 1-year high of $115.26. The company has a market capitalization of $45.40 billion, a P/E ratio of 11.87 and a beta of 1.49.

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

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 14th. Shareholders of record on Tuesday, August 22nd were given a $0.75 dividend. The ex-dividend date was Friday, August 18th. This represents a $3.00 annualized dividend and a yield of 2.82%. Prudential Financial’s dividend payout ratio (DPR) is 33.63%.

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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