Prudential Financial, Inc. (PRU) Shares Bought by Nomura Asset Management Co. Ltd.
Nomura Asset Management Co. Ltd. raised its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 2.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 65,930 shares of the financial services provider’s stock after purchasing an additional 1,473 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Prudential Financial were worth $7,010,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the company. Fieldpoint Private Securities LLC purchased a new position in Prudential Financial in the second quarter valued at about $103,000. Grove Bank & Trust boosted its holdings in Prudential Financial by 507.0% in the third quarter. Grove Bank & Trust now owns 1,129 shares of the financial services provider’s stock worth $120,000 after acquiring an additional 943 shares in the last quarter. Hudock Capital Group LLC boosted its holdings in Prudential Financial by 0.7% in the second quarter. Hudock Capital Group LLC now owns 1,144 shares of the financial services provider’s stock worth $123,000 after acquiring an additional 8 shares in the last quarter. Legacy Advisors LLC acquired a new stake in Prudential Financial in the third quarter worth about $129,000. Finally, Advisory Services Network LLC boosted its holdings in Prudential Financial by 128.8% in the second quarter. Advisory Services Network LLC now owns 1,700 shares of the financial services provider’s stock worth $184,000 after acquiring an additional 957 shares in the last quarter. Institutional investors and hedge funds own 64.65% of the company’s stock.
Prudential Financial, Inc. (NYSE PRU) traded up $0.95 during trading on Friday, hitting $116.33. The stock had a trading volume of 1,035,800 shares, compared to its average volume of 1,847,389. The stock has a market capitalization of $50,060.00, a PE ratio of 11.15, a PEG ratio of 1.30 and a beta of 1.55. Prudential Financial, Inc. has a 1-year low of $97.88 and a 1-year high of $117.99. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.13 and a quick ratio of 0.13.
Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $3.01 EPS for the quarter, beating the Zacks’ consensus estimate of $2.71 by $0.30. Prudential Financial had a return on equity of 9.51% and a net margin of 7.71%. The business had revenue of $13.36 billion during the quarter, compared to analysts’ expectations of $12.24 billion. During the same period in the previous year, the business earned $2.66 earnings per share. equities analysts forecast that Prudential Financial, Inc. will post 10.44 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Investors of record on Monday, November 27th will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 2.58%. The ex-dividend date of this dividend is Friday, November 24th. Prudential Financial’s payout ratio is 30.24%.
A number of equities research analysts recently commented on the company. Citigroup raised Prudential Financial from a “neutral” rating to a “buy” rating and set a $103.00 target price for the company in a report on Tuesday, October 17th. Morgan Stanley lifted their target price on Prudential Financial from $118.00 to $123.00 and gave the stock an “equal weight” rating in a report on Thursday, October 5th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $119.00 target price on shares of Prudential Financial in a report on Friday, November 3rd. Zacks Investment Research raised Prudential Financial from a “hold” rating to a “buy” rating and set a $122.00 price target for the company in a report on Tuesday, October 10th. Finally, ValuEngine raised Prudential Financial from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Eight investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Prudential Financial presently has an average rating of “Buy” and an average target price of $115.64.
In related news, insider Nicholas C. Silitch sold 44,860 shares of the business’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $111.77, for a total transaction of $5,014,002.20. Following the completion of the sale, the insider now directly owns 27,927 shares in the company, valued at $3,121,400.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Charles F. Lowrey sold 44,630 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $111.91, for a total value of $4,994,543.30. Following the sale, the executive vice president now owns 79,354 shares of the company’s stock, valued at $8,880,506.14. The disclosure for this sale can be found here. Insiders have sold 100,017 shares of company stock valued at $11,219,151 over the last quarter. 0.66% of the stock is owned by company insiders.
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Prudential Financial Profile
Prudential Financial, Inc, is a financial services company. The Company, through its subsidiaries, offers a range of financial products and services, which includes life insurance, annuities, retirement-related services, mutual funds and investment management. The Company’s operations consists of four divisions, which together encompass seven segments.
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