Nissay Asset Management Corp Japan ADV Buys 1,011 Shares of Prudential Financial Inc (PRU)

Share on StockTwits

Nissay Asset Management Corp Japan ADV grew its stake in shares of Prudential Financial Inc (NYSE:PRU) by 1.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 55,926 shares of the financial services provider’s stock after purchasing an additional 1,011 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in Prudential Financial were worth $5,666,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of PRU. LSV Asset Management increased its holdings in Prudential Financial by 2.9% in the second quarter. LSV Asset Management now owns 3,513,504 shares of the financial services provider’s stock valued at $328,547,000 after buying an additional 98,792 shares during the last quarter. Schwab Charles Investment Management Inc. increased its holdings in Prudential Financial by 2.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 2,814,489 shares of the financial services provider’s stock valued at $263,183,000 after buying an additional 61,889 shares during the last quarter. Swiss National Bank increased its holdings in Prudential Financial by 2.6% in the second quarter. Swiss National Bank now owns 1,395,287 shares of the financial services provider’s stock valued at $130,473,000 after buying an additional 35,000 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Prudential Financial by 6.8% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,318,425 shares of the financial services provider’s stock valued at $123,286,000 after buying an additional 83,712 shares during the last quarter. Finally, CIBC Private Wealth Group LLC increased its holdings in Prudential Financial by 1.1% in the second quarter. CIBC Private Wealth Group LLC now owns 1,240,670 shares of the financial services provider’s stock valued at $116,015,000 after buying an additional 12,967 shares during the last quarter. Institutional investors own 63.56% of the company’s stock.

Several brokerages recently weighed in on PRU. Zacks Investment Research raised Prudential Financial from a “hold” rating to a “buy” rating and set a $117.00 price objective for the company in a report on Monday, October 8th. UBS Group boosted their price objective on Prudential Financial from $125.00 to $126.00 and gave the company a “buy” rating in a report on Monday, October 8th. B. Riley boosted their price objective on Prudential Financial from $116.00 to $124.00 and gave the company a “buy” rating in a report on Tuesday, August 7th. Royal Bank of Canada reissued a “buy” rating and issued a $122.00 price objective on shares of Prudential Financial in a report on Friday, August 3rd. Finally, ValuEngine raised Prudential Financial from a “strong sell” rating to a “sell” rating in a report on Tuesday, September 4th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $119.92.

In other news, insider Scott Sleyster sold 23,300 shares of the company’s stock in a transaction that occurred on Friday, September 28th. The stock was sold at an average price of $99.74, for a total transaction of $2,323,942.00. Following the completion of the transaction, the insider now directly owns 57,758 shares of the company’s stock, valued at $5,760,782.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Prudential Financial Inc bought 880,000 shares of the stock in a transaction dated Tuesday, October 16th. The shares were bought at an average cost of $25.00 per share, with a total value of $22,000,000.00. The disclosure for this purchase can be found here. 0.66% of the stock is currently owned by corporate insiders.

NYSE:PRU opened at $93.78 on Thursday. The company has a market cap of $38.55 billion, a PE ratio of 8.86, a P/E/G ratio of 0.84 and a beta of 1.48. Prudential Financial Inc has a 52 week low of $89.33 and a 52 week high of $127.14. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.12 and a quick ratio of 0.12.

Prudential Financial (NYSE:PRU) last posted its earnings results on Wednesday, August 1st. The financial services provider reported $3.01 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $3.08 by ($0.07). The company had revenue of $13.04 billion for the quarter, compared to the consensus estimate of $14.19 billion. Prudential Financial had a net margin of 13.16% and a return on equity of 9.98%. During the same period last year, the company posted $2.09 earnings per share. Equities research analysts anticipate that Prudential Financial Inc will post 12.21 EPS for the current year.

Prudential Financial Profile

Prudential Financial, Inc, through its subsidiaries, provides insurance, investment management, and other financial products and services in the United States and internationally. It operates through U.S. Individual Solutions, U.S. Workplace Solutions, Investment Management, and International Insurance divisions.

Featured Article: Why do companies engage in swaps?

Want to see what other hedge funds are holding PRU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Prudential Financial Inc (NYSE:PRU).

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

Receive News & Ratings for Prudential Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prudential Financial and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply