Prudential Financial, Inc. (NYSE:PRU) Shares Bought by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC lifted its holdings in Prudential Financial, Inc. (NYSE:PRU) by 66.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 225,061 shares of the financial services provider’s stock after buying an additional 89,733 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Prudential Financial were worth $26,676,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. International Assets Investment Management LLC grew its holdings in shares of Prudential Financial by 4,130.8% in the 3rd quarter. International Assets Investment Management LLC now owns 1,298,257 shares of the financial services provider’s stock worth $157,219,000 after acquiring an additional 1,267,571 shares during the period. Nordea Investment Management AB grew its holdings in Prudential Financial by 176.8% in the fourth quarter. Nordea Investment Management AB now owns 1,041,420 shares of the financial services provider’s stock valued at $123,804,000 after purchasing an additional 665,180 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Prudential Financial by 97.4% during the 2nd quarter. AQR Capital Management LLC now owns 724,244 shares of the financial services provider’s stock worth $84,874,000 after buying an additional 357,300 shares during the last quarter. FMR LLC raised its stake in shares of Prudential Financial by 31.3% during the 3rd quarter. FMR LLC now owns 1,444,288 shares of the financial services provider’s stock worth $174,903,000 after buying an additional 344,254 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in Prudential Financial by 4.1% in the 3rd quarter. Geode Capital Management LLC now owns 8,662,679 shares of the financial services provider’s stock valued at $1,047,872,000 after acquiring an additional 341,787 shares during the last quarter. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PRU. Evercore ISI raised shares of Prudential Financial from an “underperform” rating to an “inline” rating and upped their price target for the company from $117.00 to $140.00 in a report on Thursday, November 14th. Bank of America raised their price target on Prudential Financial from $109.00 to $118.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. TD Cowen upped their price objective on Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a research report on Wednesday, November 27th. Jefferies Financial Group lifted 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, Piper Sandler decreased their price target on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Eleven equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Prudential Financial currently has an average rating of “Hold” and an average price target of $127.25.

Insider Activity

In related news, major shareholder Insurance Co Of Ame Prudential bought 537,249 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were acquired at an average cost of $27.92 per share, for a total transaction of $14,999,992.08. Following the acquisition, the insider now owns 4,780,293 shares in the company, valued at $133,465,780.56. This represents a 12.66 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.34% of the company’s stock.

Prudential Financial Stock Down 2.5 %

Shares of NYSE PRU opened at $117.32 on Thursday. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $41.76 billion, a PE ratio of 10.43, a P/E/G ratio of 1.10 and a beta of 1.31. The firm has a fifty day moving average of $121.84 and a 200-day moving average of $120.71. Prudential Financial, Inc. has a 52-week low of $100.60 and a 52-week high of $130.55.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 EPS for the quarter, topping the consensus estimate of $3.47 by $0.01. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. The company had revenue of $19.48 billion during the quarter, compared to analyst estimates of $14.57 billion. During the same period in the prior year, the firm posted $3.44 earnings per share. On average, analysts anticipate that Prudential Financial, Inc. will post 13.26 EPS for the current year.

Prudential Financial Dividend Announcement

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