Meritage Portfolio Management Lowers stake in Prudential Financial Inc (PRU)

Prudential Financial Inc (PRU) : Meritage Portfolio Management reduced its stake in Prudential Financial Inc by 1.53% during the most recent quarter end. The investment management company now holds a total of 71,204 shares of Prudential Financial Inc which is valued at $5,666,414 after selling 1,110 shares in Prudential Financial Inc , the firm said in a disclosure report filed with the SEC on Apr 21, 2016.Prudential Financial Inc makes up approximately 0.64% of Meritage Portfolio Management’s portfolio.

Prudential Financial Inc closed down -0.06 points or -0.08% at $79.65 with 25,90,946 shares getting traded on Wednesday. Post opening the session at $79.67, the shares hit an intraday low of $79.2 and an intraday high of $80.45 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

Other Hedge Funds, Including , Regent Investment Management boosted its stake in PRU in the latest quarter, The investment management firm added 660 additional shares and now holds a total of 27,605 shares of Prudential Financial Inc which is valued at $2,196,806. Prudential Financial Inc makes up approx 1.20% of Regent Investment Management’s portfolio.Lebenthal Holdingsllc boosted its stake in PRU in the latest quarter, The investment management firm added 1,352 additional shares and now holds a total of 9,488 shares of Prudential Financial Inc which is valued at $755,055. Prudential Financial Inc makes up approx 0.13% of Lebenthal Holdingsllc’s portfolio.Ferguson Wellman Capital Management Inc boosted its stake in PRU in the latest quarter, The investment management firm added 4,431 additional shares and now holds a total of 90,595 shares of Prudential Financial Inc which is valued at $7,209,550. Prudential Financial Inc makes up approx 0.30% of Ferguson Wellman Capital Management Inc’s portfolio. Crestpoint Capital Management added PRU to its portfolio by purchasing 5,100 company shares during the most recent quarter which is valued at $387,651. Prudential Financial Inc makes up approx 0.21% of Crestpoint Capital Management’s portfolio.

On the company’s financial health, Prudential Financial Inc reported $1.94 EPS for the quarter, missing the analyst consensus estimate by $ -0.36 based on the information available during the earnings call on Feb 10, 2016. Analyst had a consensus of $2.30. The company had revenue of $13245.00 million for the quarter, compared to analysts expectations of $11482.75 million. The company’s revenue was down -16.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $2.12 EPS.

Many Wall Street Analysts have commented on Prudential Financial Inc. Shares were Reiterated by RBC Capital Mkts on Feb 11, 2016 to “Sector Perform” and Lowered the Price Target to $ 80 from a previous price target of $91 .

Prudential Financial Inc. is a financial services company. The Company through its subsidiaries and affiliates provides a arrange of financial products and services including life insurance annuities retirement-related services mutual funds and investment management. The Company has organized its principal operations into the Financial Services Businesses and the Closed Block Business. The Financial Services Businesses consists of three divisions containing six segments and the Company’s corporate operations. The Financial Services Businesses operate through three operating divisions: U.S. Retirement Solutions and Investment Management U.S. Individual Life and Group Insurance and International Insurance. The Company’s investment portfolio consists of public and private fixed maturity securities commercial mortgage and other loans equity securities and other invested assets.

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