Jones Collombin Investment Counsel Inc Lowers stake in Prudential Financial Inc (PRU)

Prudential Financial Inc (PRU) : Jones Collombin Investment Counsel Inc reduced its stake in Prudential Financial Inc by 2.6% during the most recent quarter end. The investment management company now holds a total of 186,272 shares of Prudential Financial Inc which is valued at $14,462,158 after selling 4,965 shares in Prudential Financial Inc , the firm said in a disclosure report filed with the SEC on Apr 25, 2016.Prudential Financial Inc makes up approximately 3.99% of Jones Collombin Investment Counsel Inc’s portfolio.

Prudential Financial Inc opened for trading at $78.28 and hit $78.8 on the upside on Monday, eventually ending the session at $78.67, with a gain of 1.33% or 1.03 points. The heightened volatility saw the trading volume jump to 15,43,640 shares. Company has a market cap of $35,087 M.

Other Hedge Funds, Including , Grimes Company sold out all of its stake in PRU during the most recent quarter. The investment firm sold 2,653 shares of PRU which is valued $205,979. Joel Isaacson added PRU to its portfolio by purchasing 70 company shares during the most recent quarter which is valued at $5,571.Patten Patten Inctn reduced its stake in PRU by selling 5,350 shares or 26.88% in the most recent quarter. The Hedge Fund company now holds 14,555 shares of PRU which is valued at $1,106,326. Prudential Financial Inc makes up approx 0.16% of Patten Patten Inctn’s portfolio.Oregon Public Employees Retirement Fund boosted its stake in PRU in the latest quarter, The investment management firm added 549 additional shares and now holds a total of 76,928 shares of Prudential Financial Inc which is valued at $5,847,297. Prudential Financial Inc makes up approx 0.13% of Oregon Public Employees Retirement Fund’s portfolio.Oakbrook Investments reduced its stake in PRU by selling 1,200 shares or 2.84% in the most recent quarter. The Hedge Fund company now holds 41,070 shares of PRU which is valued at $3,121,731. Prudential Financial Inc makes up approx 0.20% of Oakbrook Investments’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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