Gillespie Robinson & Grimm INC Decreased Stake in Prudential Financial INC (NYSE:PRU) by $3.86 Million as Shares Declined


Gillespie Robinson & Grimm Inc decreased its stake in Prudential Financial Inc. (NYSE:PRU) by 43.71% based on its latest 2016Q2 regulatory filing with the SEC. Gillespie Robinson & Grimm Inc sold 50,751 shares as the company’s stock declined 9.54% while stock markets rallied. The institutional investor held 65,369 shares of the finance company at the end of 2016Q2, valued at $4.97 million, down from 116,120 at the end of the previous reported quarter. Gillespie Robinson & Grimm Inc who had been investing in Prudential Financial Inc. for a number of months, seems to be less bullish one the $34.70B market cap company. The stock is down 1.12% or $0.89 after the negative news, hitting $78.85 per share. About 1.67M shares traded hands. Prudential Financial Inc (NYSE:PRU) has risen 25.91% since February 8, 2016 and is uptrending. It has outperformed by 9.42% the S&P500.

Gillespie Robinson & Grimm Inc is a Connecticut-based institutional investor with more than $954.83 million AUM in January, 2015. Taken from Gillespie Robinson & Grimm latest Adv, the fund reported to have 9 full and part-time employees. Among which 4 performing investment advisory and research functions. The institutional investor had more than 200 clients.

The institutional sentiment decreased to 1.01 in Q2 2016. Its down 0.03, from 1.04 in 2016Q1. The ratio dived, as 52 funds sold all PRU shares owned while 247 reduced positions. 58 funds bought stakes while 245 increased positions. They now own 258.74 million shares or 8.27% less from 282.08 million shares in 2016Q1.

Jones Collombin Investment Counsel Inc holds 3.71% of its portfolio in PRU for 174,589 shares. Causeway Capital Management Llc owns 2.02 million shares or 3.51% of their US portfolio. Moreover, Garland Capital Management Inc has 3% invested in the company for 52,700 shares. The Virginia-based Capital Management Corp Va has invested 2.9% in the stock. Gyroscope Capital Management Group Llc, a Florida-based fund reported 50,040 shares.

Out of 7 analysts covering Prudential Financial (NYSE:PRU), 4 rate it a “Buy”, 1 “Sell”, while 2 “Hold”. This means 57% are positive. Prudential Financial has been the topic of 12 analyst reports since November 6, 2015 according to StockzIntelligence Inc. Bank of America downgraded the stock on June 29 to “Underperform” rating.

Prudential Financial, Inc. is a financial services company. The company has a market cap of $34.70 billion. The Company, through its subsidiaries and affiliates, provides a range of financial services and products, including life insurance, annuities and investment management. It has a 7.85 P/E ratio. The Company’s divisions include U.S.

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