Norges Bank buys $1,547,362,735 stake in Prudential Financial Inc (PRU)

Prudential Financial Inc (PRU) : Norges Bank scooped up 394,790 additional shares in Prudential Financial Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 12, 2016. The investment management firm now holds a total of 20,489,443 shares of Prudential Financial Inc which is valued at $1,547,362,735.Prudential Financial Inc makes up approximately 0.72% of Norges Bank’s portfolio.

Other Hedge Funds, Including , Laurion Capital Management Lp reduced its stake in PRU by selling 79,507 shares or 77.05% in the most recent quarter. The Hedge Fund company now holds 23,678 shares of PRU which is valued at $1,788,163. Prudential Financial Inc makes up approx 0.11% of Laurion Capital Management Lp’s portfolio. Monroe Bank Trustmi sold out all of its stake in PRU during the most recent quarter. The investment firm sold 400 shares of PRU which is valued $30,208. Moisand Fitzgerald Tamayo sold out all of its stake in PRU during the most recent quarter. The investment firm sold 33 shares of PRU which is valued $2,513.Nippon Life Insurance Co reduced its stake in PRU by selling 2,963 shares or 0.11% in the most recent quarter. The Hedge Fund company now holds 2,582,028 shares of PRU which is valued at $196,621,432. Prudential Financial Inc makes up approx 4.75% of Nippon Life Insurance Co’s portfolio.

Prudential Financial Inc opened for trading at $77.77 and hit $79.05 on the upside on Monday, eventually ending the session at $78.61, with a gain of 1.34% or 1.04 points. The heightened volatility saw the trading volume jump to 16,25,592 shares. Company has a market cap of $34,353 M.

On the company’s financial health, Prudential Financial Inc reported $1.84 EPS for the quarter, missing the analyst consensus estimate by $ -0.66 based on the information available during the earnings call on Aug 3, 2016. Analyst had a consensus of $2.50.Analysts expectations of $ 11730.58.During the same quarter in the previous year, the company posted $2.91 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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