Norges Bank buys $1,544,904,002 stake in Prudential Financial Inc (PRU)

Prudential Financial Inc (PRU) : Norges Bank scooped up 289,435 additional shares in Prudential Financial Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 10, 2016. The investment management firm now holds a total of 20,489,443 shares of Prudential Financial Inc which is valued at $1,544,904,002.Prudential Financial Inc makes up approximately 0.77% of Norges Bank’s portfolio.

Other Hedge Funds, Including , Moors Cabot boosted its stake in PRU in the latest quarter, The investment management firm added 431 additional shares and now holds a total of 4,450 shares of Prudential Financial Inc which is valued at $335,530. Prudential Financial Inc makes up approx 0.06% of Moors Cabot’s portfolio.Commonwealth Of Pennsylvania Public School Empls Retrmt Sys boosted its stake in PRU in the latest quarter, The investment management firm added 3,761 additional shares and now holds a total of 33,097 shares of Prudential Financial Inc which is valued at $2,495,514. Prudential Financial Inc makes up approx 0.05% of Commonwealth Of Pennsylvania Public School Empls Retrmt Sys’s portfolio.Tiaa Cref Investment Management reduced its stake in PRU by selling 777,172 shares or 23.45% in the most recent quarter. The Hedge Fund company now holds 2,537,122 shares of PRU which is valued at $192,948,128. Prudential Financial Inc makes up approx 0.15% of Tiaa Cref Investment Management’s portfolio. Ironwood Financial sold out all of its stake in PRU during the most recent quarter. The investment firm sold 31 shares of PRU which is valued $2,358.

Prudential Financial Inc opened for trading at $75.66 and hit $76.43 on the upside on Monday, eventually ending the session at $75.95, with a gain of 0.73% or 0.55 points. The heightened volatility saw the trading volume jump to 17,36,452 shares. Company has a market cap of $33,570 M.

On the company’s financial health, Prudential Financial Inc reported $2.18 EPS for the quarter, missing the analyst consensus estimate by $ -0.18 based on the information available during the earnings call on May 4, 2016. Analyst had a consensus of $2.36. The company had revenue of $11929.00 million for the quarter, compared to analysts expectations of $11225.08 million. The company’s revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.79 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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