Nissay Asset Management Corp Japan ADV Cuts 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 its most recent 13F filing with the Securities and Exchange Commission. 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.

Other large investors also recently modified their holdings of the company. Savant Capital LLC increased its stake in Prudential Financial by 0.6% in the 4th quarter. Savant Capital LLC now owns 14,382 shares of the financial services provider’s stock worth $1,705,000 after buying an additional 83 shares in the last quarter. Grove Bank & Trust boosted its stake 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 worth $26,000 after acquiring an additional 87 shares during the period. HBK Sorce Advisory LLC grew its position in shares of Prudential Financial by 1.0% during the fourth quarter. HBK Sorce Advisory LLC now owns 9,417 shares of the financial services provider’s stock worth $1,116,000 after purchasing an additional 91 shares in the last quarter. Asset Dedication LLC raised its stake in Prudential Financial by 28.4% during the 4th quarter. Asset Dedication LLC now owns 420 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 93 shares during the period. Finally, Altman Advisors Inc. lifted its holdings in Prudential Financial by 0.6% in the 4th quarter. Altman Advisors Inc. now owns 16,087 shares of the financial services provider’s stock worth $1,907,000 after purchasing an additional 94 shares in the last quarter. 56.83% of the stock is owned by hedge funds and other institutional investors.

Prudential Financial Trading Up 0.6%

Shares of PRU stock opened at $106.95 on Friday. The company has a market cap of $37.86 billion, a PE ratio of 14.32, a price-to-earnings-growth ratio of 0.98 and a beta of 1.07. Prudential Financial, Inc. has a 1 year low of $90.38 and a 1 year high of $130.55. The stock’s 50 day simple moving average is $104.68 and its two-hundred day simple moving average is $114.19. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.16 and a quick ratio of 0.16.

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

Prudential Financial Announces Dividend

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

Wall Street Analyst Weigh In

PRU has been the subject of a number of research analyst reports. Piper Sandler cut their price objective on shares of Prudential Financial from $110.00 to $109.00 and set a “neutral” rating for the company in a report on Friday, May 2nd. JPMorgan Chase & Co. reduced their price target on shares of Prudential Financial from $128.00 to $126.00 and set a “neutral” rating on the stock in a report on Wednesday, April 2nd. UBS Group dropped their price objective on shares of Prudential Financial from $130.00 to $122.00 and set a “neutral” rating for the company in a report on Wednesday, April 2nd. Morgan Stanley reduced their target price on Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating on the stock in a report on Friday, February 28th. Finally, Barclays cut their price target on Prudential Financial from $134.00 to $106.00 and set an “equal weight” rating for the company in a report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $121.92.

Insider Buying and Selling

In related news, EVP Andrew F. Sullivan sold 6,000 shares of Prudential Financial 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 completion of the sale, the executive vice president now owns 27,072 shares in the company, valued at $2,869,090.56. This trade represents a 18.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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 price of $28.72 per share, for a total transaction of $2,499,989.84. Following the completion of the purchase, the insider now directly owns 87,047 shares in the company, valued at approximately $2,499,989.84. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.25% of the stock is currently owned by corporate insiders.

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.