Prudential Financial, Inc. $PRU Holdings Raised by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. increased its stake in Prudential Financial, Inc. (NYSE:PRU) by 4.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 121,216 shares of the financial services provider’s stock after purchasing an additional 5,183 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Prudential Financial were worth $13,023,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Brighton Jones LLC increased its stake in shares of Prudential Financial by 3.7% during the fourth quarter. Brighton Jones LLC now owns 3,681 shares of the financial services provider’s stock valued at $436,000 after acquiring an additional 133 shares during the period. OneAscent Financial Services LLC boosted its stake in Prudential Financial by 98.1% during the 1st quarter. OneAscent Financial Services LLC now owns 3,704 shares of the financial services provider’s stock valued at $414,000 after purchasing an additional 1,834 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its position in shares of Prudential Financial by 4.1% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 27,511 shares of the financial services provider’s stock valued at $3,072,000 after purchasing an additional 1,092 shares during the period. Ignite Planners LLC raised its stake in shares of Prudential Financial by 15.4% in the 1st quarter. Ignite Planners LLC now owns 2,332 shares of the financial services provider’s stock worth $237,000 after buying an additional 311 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in shares of Prudential Financial by 11.0% in the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 241,591 shares of the financial services provider’s stock valued at $26,981,000 after buying an additional 23,956 shares during the period. 56.83% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Chairman Charles F. Lowrey sold 48,164 shares of the stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $107.39, for a total value of $5,172,331.96. Following the completion of the sale, the chairman directly owned 165,564 shares of the company’s stock, valued at $17,779,917.96. This represents a 22.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ann M. Kappler sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $109.65, for a total transaction of $438,600.00. Following the sale, the executive vice president owned 21,506 shares of the company’s stock, valued at approximately $2,358,132.90. This represents a 15.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.25% of the stock is currently owned by corporate insiders.

Prudential Financial Stock Up 0.9%

PRU stock opened at $103.55 on Thursday. The company’s 50 day simple moving average is $103.55 and its 200-day simple moving average is $104.70. Prudential Financial, Inc. has a 52-week low of $90.38 and a 52-week high of $130.55. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.16 and a quick ratio of 0.16. The firm has a market capitalization of $36.24 billion, a P/E ratio of 14.22, a P/E/G ratio of 0.88 and a beta of 1.05.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $3.58 earnings per share for the quarter. The firm had revenue of $8.35 billion for the quarter. Prudential Financial had a net margin of 4.65% and a return on equity of 16.98%. As a group, equities research analysts anticipate that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 11th. Investors of record on Tuesday, November 18th will be given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 5.2%. The ex-dividend date of this dividend is Tuesday, November 18th. Prudential Financial’s payout ratio is presently 74.18%.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Wall Street Zen upgraded shares of Prudential Financial from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Wolfe Research began coverage on shares of Prudential Financial in a research note on Tuesday, September 16th. They issued a “peer perform” rating on the stock. Barclays cut their target price on shares of Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 8th. Morgan Stanley lifted their price target on shares of Prudential Financial from $117.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 7th. Finally, Keefe, Bruyette & Woods increased their price objective on Prudential Financial from $117.00 to $118.00 and gave the company a “market perform” rating in a research report on Monday, November 3rd. One equities research analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Prudential Financial currently has an average rating of “Hold” and a consensus price target of $120.73.

About Prudential Financial

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.