Prudential Financial Has 16% LinkedIn Stake

Monday, 12 Dec 2011 05:29 PM

 

  Comment  |
   Contact  |
  Print  
|  A   A  
  Copy Shortlink
Prudential Financial Inc., the second-largest U.S. life insurer, reported a 15.9 percent stake in LinkedIn Corp., the largest professional-networking website.

“Shares were acquired in the ordinary course of business, and not with the purpose or effect of changing or influencing control” of LinkedIn, according to a regulatory filing Monday. The document shows Prudential has more than 3 million shares,

Prudential had about $871 billion of assets under management as of Sept. 30, including holdings backing policies and client funds with the Newark, New Jersey-based insurer. T. Rowe Price Group Inc. has more than 5 million shares of Mountain View, California-based LinkedIn, according to data compiled by Bloomberg.

LinkedIn sold shares to the public in May at $45 each and held an additional offering last month when investors paid $71 each. The stock slipped 60 cents Monday to $71.29 at 4:15 p.m. in New York.

© Copyright 2014 Bloomberg News. All rights reserved.

  Comment  |
   Contact  |
  Print  
  Copy Shortlink
Around the Web

Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 

You May Also Like
Around the Web

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved