Washington Trust Bank Lowers stake in Prudential Financial Inc (PRU)

Prudential Financial Inc (PRU) : Washington Trust Bank reduced its stake in Prudential Financial Inc by 2.27% during the most recent quarter end. The investment management company now holds a total of 32,311 shares of Prudential Financial Inc which is valued at $2,739,650 after selling 751 shares in Prudential Financial Inc , the firm said in a disclosure report filed with the SEC on Oct 4, 2016.Prudential Financial Inc makes up approximately 0.66% of Washington Trust Bank’s portfolio.

Other Hedge Funds, Including , West Oak Capital added PRU to its portfolio by purchasing 100 company shares during the most recent quarter which is valued at $8,479. Prudential Financial Inc makes up approx 0.01% of West Oak Capital’s portfolio.Beacon Financial Group boosted its stake in PRU in the latest quarter, The investment management firm added 700 additional shares and now holds a total of 9,831 shares of Prudential Financial Inc which is valued at $833,570. Prudential Financial Inc makes up approx 0.18% of Beacon Financial Group’s portfolio.Harbour Capital Advisors reduced its stake in PRU by selling 300 shares or 7.69% in the most recent quarter. The Hedge Fund company now holds 3,601 shares of PRU which is valued at $305,329. Prudential Financial Inc makes up approx 0.16% of Harbour Capital Advisors’s portfolio.

Prudential Financial Inc opened for trading at $81.6 and hit $82.78 on the upside on Tuesday, eventually ending the session at $82.59, with a gain of 1.42% or 1.16 points. The heightened volatility saw the trading volume jump to 29,80,603 shares. Company has a market cap of $36,092 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 Upgraded by Goldman to ” Buy” on Sep 23, 2016. Prudential Financial Inc was Resumed by Wells Fargo to “Market Perform” on Sep 23, 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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