Nissay Asset Management Corp Japan ADV Lowers Stock Position in Prudential Financial, Inc. (NYSE:PRU)

Nissay Asset Management Corp Japan ADV cut its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 2.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 44,310 shares of the financial services provider’s stock after selling 898 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in Prudential Financial were worth $5,276,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Grove Bank & Trust grew its holdings in shares of Prudential Financial by 65.9% in the fourth quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 87 shares in the last quarter. Centricity Wealth Management LLC purchased a new position in Prudential Financial in the fourth quarter worth $29,000. CGC Financial Services LLC grew its stake in Prudential Financial by 82.1% in the 4th quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 124 shares during the period. Wingate Wealth Advisors Inc. bought a new stake in shares of Prudential Financial during the 4th quarter worth $33,000. Finally, Hopwood Financial Services Inc. purchased a new position in shares of Prudential Financial in the 4th quarter worth about $34,000. 56.83% of the stock is owned by institutional investors.

Prudential Financial Stock Up 0.6%

Shares of NYSE PRU opened at $106.95 on Friday. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.68. The company has a market cap of $37.86 billion, a P/E ratio of 14.32, a P/E/G ratio of 0.98 and a beta of 1.07. Prudential Financial, Inc. has a 52 week low of $90.38 and a 52 week high of $130.55. The business has a 50-day simple moving average of $104.68 and a two-hundred day simple moving average of $114.19.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $3.29 EPS for the quarter, beating analysts’ consensus estimates of $3.18 by $0.11. The company had revenue of $13.61 billion during the quarter, compared to analyst estimates of $14.76 billion. Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. Prudential Financial’s revenue was down 38.2% compared to the same quarter last year. During the same period last year, the business earned $3.12 earnings per share. Research analysts anticipate that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Tuesday, May 20th will be issued a $1.35 dividend. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $5.40 annualized dividend and a dividend yield of 5.05%. Prudential Financial’s payout ratio is currently 85.58%.

Analyst Ratings Changes

A number of research firms recently issued reports on PRU. JPMorgan Chase & Co. decreased their price objective on shares of Prudential Financial from $128.00 to $126.00 and set a “neutral” rating for the company in a report on Wednesday, April 2nd. Wells Fargo & Company lifted their price target on shares of Prudential Financial from $108.00 to $113.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 6th. BMO Capital Markets assumed coverage on Prudential Financial in a research note on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 price objective on the stock. UBS Group decreased their target price on Prudential Financial from $130.00 to $122.00 and set a “neutral” rating for the company in a research report on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods dropped their price target on Prudential Financial from $120.00 to $117.00 and set a “market perform” rating on the stock in a research report on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Prudential Financial presently has a consensus rating of “Hold” and an average price target of $121.92.

Insider Buying and Selling

In related news, major shareholder Insurance Co Of Ame Prudential acquired 52,595 shares of the firm’s stock in a transaction that occurred on Tuesday, March 25th. The shares were bought at an average cost of $28.52 per share, for a total transaction of $1,500,009.40. Following the completion of the transaction, the insider now owns 139,987 shares in the company, valued at approximately $3,992,429.24. This trade represents a 60.18% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Andrew F. Sullivan sold 6,000 shares of Prudential Financial stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $105.98, for a total transaction of $635,880.00. Following the sale, the executive vice president now owns 27,072 shares of the company’s stock, valued at approximately $2,869,090.56. The trade was a 18.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by company insiders.

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.