Nomura Asset Management Co. Ltd. Buys 814 Shares of Prudential Financial, Inc. (NYSE:PRU)

Nomura Asset Management Co. Ltd. lifted its stake in Prudential Financial, Inc. (NYSE:PRU) by 0.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 111,117 shares of the financial services provider’s stock after acquiring an additional 814 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Prudential Financial were worth $13,171,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in PRU. Dynamic Technology Lab Private Ltd bought a new stake in shares of Prudential Financial during the 3rd quarter worth $283,000. FMR LLC boosted its holdings in Prudential Financial by 31.3% during the third quarter. FMR LLC now owns 1,444,288 shares of the financial services provider’s stock valued at $174,903,000 after acquiring an additional 344,254 shares during the period. Freedom Investment Management Inc. grew its position in shares of Prudential Financial by 14.0% in the third quarter. Freedom Investment Management Inc. now owns 3,478 shares of the financial services provider’s stock valued at $421,000 after purchasing an additional 427 shares during the last quarter. Glenmede Trust Co. NA increased its stake in shares of Prudential Financial by 7.4% in the third quarter. Glenmede Trust Co. NA now owns 17,968 shares of the financial services provider’s stock worth $2,176,000 after purchasing an additional 1,234 shares during the period. Finally, Fiduciary Trust Co acquired a new position in shares of Prudential Financial during the 3rd quarter worth about $252,000. Institutional investors own 56.83% of the company’s stock.

Prudential Financial Trading Down 3.9 %

Shares of PRU opened at $109.94 on Monday. The stock has a 50 day simple moving average of $113.09 and a 200-day simple moving average of $118.98. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.68. The stock has a market cap of $39.36 billion, a PE ratio of 14.72, a PEG ratio of 0.98 and a beta of 1.28. Prudential Financial, Inc. has a 1 year low of $104.45 and a 1 year high of $130.55.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.36 by ($0.40). Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. On average, sell-side analysts predict that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th were paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 4.91%. This is a boost from Prudential Financial’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Tuesday, February 18th. Prudential Financial’s dividend payout ratio is currently 72.29%.

Insider Transactions at Prudential Financial

In other Prudential Financial news, EVP Andrew F. Sullivan sold 6,000 shares of the stock in a transaction dated 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 $2,869,090.56. This represents a 18.14 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential bought 87,047 shares of the company’s stock in a transaction on Wednesday, March 12th. The stock was bought at an average cost of $28.72 per share, with a total value of $2,499,989.84. Following the completion of the purchase, the insider now owns 87,047 shares of the company’s stock, valued at approximately $2,499,989.84. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

PRU has been the topic of several recent analyst reports. Barclays lifted their price target on Prudential Financial from $128.00 to $134.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 5th. Morgan Stanley cut their target price on shares of Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating for the company in a research note on Friday, February 28th. Wells Fargo & Company boosted their price objective on shares of Prudential Financial from $113.00 to $118.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 19th. BMO Capital Markets initiated coverage on shares of Prudential Financial in a research note on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 target price for the company. Finally, Jefferies Financial Group boosted their price target on Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $126.15.

Prudential Financial 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.