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 6.27% during the most recent quarter end. The investment management company now holds a total of 174,589 shares of Prudential Financial Inc which is valued at $13,226,863 after selling 11,683 shares in Prudential Financial Inc , the firm said in a disclosure report filed with the SEC on Jul 20, 2016.Prudential Financial Inc makes up approximately 3.82% of Jones Collombin Investment Counsel Inc’s portfolio.

Other Hedge Funds, Including , Legacy Private Trust added PRU to its portfolio by purchasing 5,820 company shares during the most recent quarter which is valued at $438,828. Prudential Financial Inc makes up approx 0.06% of Legacy Private Trust’s portfolio.Gillespie Robinson Grimm Inc reduced its stake in PRU by selling 11,894 shares or 18.2% in the most recent quarter. The Hedge Fund company now holds 53,475 shares of PRU which is valued at $3,909,023. Prudential Financial Inc makes up approx 0.61% of Gillespie Robinson Grimm Inc’s portfolio.

Prudential Financial Inc opened for trading at $75.61 and hit $75.66 on the upside on Wednesday, eventually ending the session at $75.54, with a gain of 0.49% or 0.37 points. The heightened volatility saw the trading volume jump to 18,36,792 shares. Company has a market cap of $33,389 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. Prudential Financial Inc was Downgraded by BofA/Merrill to ” Underperform” on Jun 29, 2016.

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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