Nisa Investment Advisors LLC Has $20.15 Million Position in Prudential Financial Inc (PRU)

Nisa Investment Advisors LLC trimmed its stake in shares of Prudential Financial Inc (NYSE:PRU) by 5.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 175,256 shares of the financial services provider’s stock after selling 10,072 shares during the period. Nisa Investment Advisors LLC’s holdings in Prudential Financial were worth $20,151,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of PRU. Fieldpoint Private Securities LLC acquired a new stake in Prudential Financial in the second quarter valued at approximately $103,000. Grove Bank & Trust grew 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 valued at $120,000 after purchasing an additional 943 shares during the period. Legacy Advisors LLC acquired a new stake in Prudential Financial in the third quarter valued at approximately $129,000. Zions Bancorporation grew its holdings in Prudential Financial by 44.9% in the third quarter. Zions Bancorporation now owns 1,690 shares of the financial services provider’s stock valued at $180,000 after purchasing an additional 524 shares during the period. Finally, Advisory Services Network LLC grew 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 valued at $184,000 after purchasing an additional 957 shares during the period. 64.46% of the stock is currently owned by hedge funds and other institutional investors.

In related news, EVP Timothy P. Harris sold 10,527 shares of Prudential Financial stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $115.00, for a total transaction of $1,210,605.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Barbara Koster sold 16,801 shares of Prudential Financial stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $115.17, for a total value of $1,934,971.17. Following the transaction, the senior vice president now owns 37,327 shares in the company, valued at approximately $4,298,950.59. The disclosure for this sale can be found here. In the last 90 days, insiders sold 116,818 shares of company stock worth $13,154,122. Company insiders own 0.66% of the company’s stock.

Several brokerages have commented on PRU. Sandler O’Neill reissued a “buy” rating and issued a $134.00 price objective on shares of Prudential Financial in a report on Thursday. Atlantic Securities raised Prudential Financial from a “neutral” rating to an “overweight” rating in a report on Thursday. Zacks Investment Research raised Prudential Financial from a “hold” rating to a “buy” rating and set a $132.00 price objective on the stock in a report on Monday, January 8th. Deutsche Bank began coverage on Prudential Financial in a report on Tuesday, January 2nd. They issued a “hold” rating and a $124.00 price objective on the stock. Finally, ValuEngine raised Prudential Financial from a “buy” rating to a “strong-buy” rating in a report on Sunday, December 31st. Seven analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Prudential Financial presently has an average rating of “Buy” and a consensus price target of $119.35.

Prudential Financial Inc (PRU) opened at $124.12 on Friday. The firm has a market capitalization of $52,457.28, a P/E ratio of 12.49, a PEG ratio of 1.29 and a beta of 1.55. Prudential Financial Inc has a 1 year low of $97.88 and a 1 year high of $125.00. 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 released its earnings results on Wednesday, November 1st. The financial services provider reported $3.01 earnings per share for the quarter, beating the consensus estimate of $2.71 by $0.30. The business had revenue of $13.36 billion for the quarter, compared to the consensus estimate of $12.24 billion. Prudential Financial had a return on equity of 9.51% and a net margin of 7.71%. During the same quarter last year, the business posted $2.66 earnings per share. sell-side analysts expect that Prudential Financial Inc will post 10.49 EPS for the current year.

Prudential Financial declared that its Board of Directors has approved a share buyback program on Thursday, December 14th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its stock is undervalued.

The company also recently announced a quarterly dividend, which was paid on Thursday, December 14th. Stockholders of record on Monday, November 27th were given a $0.75 dividend. The ex-dividend date was Friday, November 24th. This represents a $3.00 annualized dividend and a dividend yield of 2.42%. Prudential Financial’s dividend payout ratio (DPR) is presently 30.18%.

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About Prudential Financial

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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Institutional Ownership by Quarter for Prudential Financial (NYSE:PRU)

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