Nomura Asset Management Co. Ltd. Has $13.17 Million Holdings in Prudential Financial, Inc. (NYSE:PRU)

Nomura Asset Management Co. Ltd. lifted its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 0.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 111,117 shares of the financial services provider’s stock after buying an additional 814 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Prudential Financial were worth $13,171,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of PRU. Providence Capital Advisors LLC raised its position in shares of Prudential Financial by 0.4% during the 4th quarter. Providence Capital Advisors LLC now owns 27,782 shares of the financial services provider’s stock valued at $3,293,000 after acquiring an additional 105 shares during the last quarter. Norges Bank bought a new stake in Prudential Financial in the fourth quarter valued at about $115,878,000. Blair William & Co. IL lifted its stake in Prudential Financial by 1.7% in the fourth quarter. Blair William & Co. IL now owns 27,286 shares of the financial services provider’s stock valued at $3,234,000 after buying an additional 457 shares during the period. Loomis Sayles & Co. L P acquired a new position in shares of Prudential Financial during the 4th quarter worth about $61,000. Finally, NEOS Investment Management LLC increased its stake in shares of Prudential Financial by 31.1% in the 4th quarter. NEOS Investment Management LLC now owns 20,993 shares of the financial services provider’s stock valued at $2,488,000 after acquiring an additional 4,976 shares during the last quarter. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Prudential Financial Trading Down 3.9 %

NYSE:PRU opened at $109.94 on Monday. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.68. Prudential Financial, Inc. has a twelve month low of $104.45 and a twelve month high of $130.55. The company has a market cap of $39.36 billion, a P/E ratio of 14.72, a price-to-earnings-growth ratio of 0.98 and a beta of 1.28. The business has a 50 day moving average price of $113.09 and a two-hundred day moving average price of $118.98.

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

Prudential Financial Increases Dividend

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

Insiders Place Their Bets

In other news, EVP Andrew F. Sullivan sold 6,000 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $105.98, for a total value of $635,880.00. Following the sale, the executive vice president now directly owns 27,072 shares of the company’s stock, valued at approximately $2,869,090.56. This represents a 18.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Insurance Co Of Ame Prudential purchased 52,595 shares of Prudential Financial stock in a transaction that occurred on Tuesday, March 25th. The shares were acquired at an average price of $28.52 per share, with a total value of $1,500,009.40. Following the acquisition, the insider now directly owns 139,987 shares of the company’s stock, valued at $3,992,429.24. This trade represents a 60.18 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

PRU has been the subject of a number of analyst reports. Piper Sandler decreased their price objective on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Jefferies Financial Group upped their price objective on shares of Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. BMO Capital Markets started coverage on Prudential Financial in a report on Thursday, January 23rd. They set an “underperform” rating and a $101.00 target price on the stock. Wells Fargo & Company raised their price target on Prudential Financial from $113.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 19th. Finally, Morgan Stanley decreased their price objective on Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating for the company in a research report on Friday, February 28th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Prudential Financial currently has an average rating of “Hold” and a consensus price target 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.