Nisa Investment Advisors LLC Grows Holdings in Prudential Financial, Inc. (NYSE:PRU)

Nisa Investment Advisors LLC increased its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 66.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 225,061 shares of the financial services provider’s stock after purchasing an additional 89,733 shares during the period. Nisa Investment Advisors LLC owned approximately 0.06% of Prudential Financial worth $26,676,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sheets Smith Wealth Management acquired a new stake in shares of Prudential Financial in the fourth quarter valued at $263,000. Ballentine Partners LLC grew its position in Prudential Financial by 7.9% in the 4th quarter. Ballentine Partners LLC now owns 8,191 shares of the financial services provider’s stock valued at $971,000 after acquiring an additional 598 shares in the last quarter. Pure Financial Advisors LLC increased its stake in Prudential Financial by 4.0% during the fourth quarter. Pure Financial Advisors LLC now owns 3,898 shares of the financial services provider’s stock worth $462,000 after purchasing an additional 150 shares during the period. UMB Bank n.a. boosted its stake in shares of Prudential Financial by 5.5% in the fourth quarter. UMB Bank n.a. now owns 3,861 shares of the financial services provider’s stock valued at $458,000 after purchasing an additional 201 shares during the period. Finally, Annex Advisory Services LLC grew its holdings in shares of Prudential Financial by 9.9% in the fourth quarter. Annex Advisory Services LLC now owns 2,704 shares of the financial services provider’s stock valued at $320,000 after purchasing an additional 244 shares in the last quarter. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Insider Transactions at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential purchased 537,249 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was acquired at an average price of $27.92 per share, for a total transaction of $14,999,992.08. Following the completion of the purchase, the insider now directly owns 4,780,293 shares of the company’s stock, valued at $133,465,780.56. This trade represents a 12.66 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on PRU shares. Bank of America raised their price target on shares of Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Keefe, Bruyette & Woods lowered their target price on Prudential Financial from $135.00 to $129.00 and set a “market perform” rating for the company in a research note on Thursday, January 16th. Evercore ISI raised Prudential Financial from an “underperform” rating to an “inline” rating and increased their price target for the company from $117.00 to $140.00 in a research report on Thursday, November 14th. Jefferies Financial Group boosted their price objective on Prudential Financial from $149.00 to $152.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Finally, Wells Fargo & Company reduced their target price on shares of Prudential Financial from $117.00 to $115.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. Eleven analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $127.25.

Prudential Financial Stock Down 2.5 %

PRU opened at $117.32 on Thursday. Prudential Financial, Inc. has a one year low of $100.60 and a one year high of $130.55. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.14 and a current ratio of 0.14. The stock has a market capitalization of $41.76 billion, a P/E ratio of 10.43, a price-to-earnings-growth ratio of 1.10 and a beta of 1.31. The business’s 50-day simple moving average is $121.84 and its 200-day simple moving average is $120.71.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share for the quarter, beating analysts’ consensus estimates of $3.47 by $0.01. The company had revenue of $19.48 billion during the quarter, compared to analysts’ expectations of $14.57 billion. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. During the same quarter in the previous year, the business earned $3.44 earnings per share. Analysts anticipate that Prudential Financial, Inc. will post 13.26 EPS for the current year.

Prudential Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th were issued a $1.30 dividend. The ex-dividend date was Tuesday, November 19th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.43%. Prudential Financial’s payout ratio is 46.22%.

Prudential Financial Company Profile

Prudential Financial, Inc, together with its subsidiaries, provides insurance, investment management, and other financial products and services in the United States and internationally. It operates through PGIM, Retirement Strategies, Group Insurance, Individual Life, and International Businesses segments.