Nomura Asset Management Co. Ltd. Buys 4,469 Shares of Prudential Financial, Inc. (NYSE:PRU)

Nomura Asset Management Co. Ltd. boosted its holdings in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 4.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 110,303 shares of the financial services provider's stock after acquiring an additional 4,469 shares during the quarter. Nomura Asset Management Co. Ltd.'s holdings in Prudential Financial were worth $13,358,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PRU. Y Intercept Hong Kong Ltd acquired a new stake in shares of Prudential Financial in the third quarter valued at about $486,000. Raab & Moskowitz Asset Management LLC increased its position in Prudential Financial by 17.4% during the 3rd quarter. Raab & Moskowitz Asset Management LLC now owns 7,448 shares of the financial services provider's stock valued at $902,000 after purchasing an additional 1,104 shares during the period. MML Investors Services LLC raised its holdings in Prudential Financial by 3.0% during the 3rd quarter. MML Investors Services LLC now owns 139,671 shares of the financial services provider's stock worth $16,914,000 after purchasing an additional 4,066 shares during the last quarter. Zacks Investment Management boosted its stake in shares of Prudential Financial by 10.4% in the 3rd quarter. Zacks Investment Management now owns 921,726 shares of the financial services provider's stock valued at $111,621,000 after purchasing an additional 86,604 shares during the last quarter. Finally, National Bank of Canada FI increased its position in shares of Prudential Financial by 53.6% during the third quarter. National Bank of Canada FI now owns 234,224 shares of the financial services provider's stock worth $28,365,000 after buying an additional 81,730 shares during the period. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Prudential Financial Stock Up 0.4 %

Shares of NYSE PRU traded up $0.54 during mid-day trading on Thursday, reaching $120.61. 1,567,506 shares of the company's stock traded hands, compared to its average volume of 1,497,050. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.14 and a quick ratio of 0.14. Prudential Financial, Inc. has a 1-year low of $100.60 and a 1-year high of $130.55. The stock has a market cap of $42.94 billion, a P/E ratio of 10.67, a PEG ratio of 0.91 and a beta of 1.29. The business has a 50-day simple moving average of $125.01 and a 200 day simple moving average of $120.44.

Prudential Financial (NYSE:PRU - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $3.48 EPS for the quarter, topping analysts' consensus estimates of $3.47 by $0.01. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. The firm had revenue of $19.48 billion during the quarter, compared to analyst estimates of $14.57 billion. During the same period in the previous year, the company posted $3.44 EPS. On average, analysts expect that Prudential Financial, Inc. will post 13.35 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 19th will be paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 4.31%. The ex-dividend date is Tuesday, November 19th. Prudential Financial's dividend payout ratio (DPR) is presently 46.22%.

Insiders Place Their Bets

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 537,249 shares of Prudential Financial stock in a transaction dated Monday, November 25th. The stock was bought at an average cost of $27.92 per share, with a total value of $14,999,992.08. Following the completion of the acquisition, the insider now directly owns 4,780,293 shares in the company, valued at approximately $133,465,780.56. The trade was a 12.66 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.34% of the company's stock.

Analyst Ratings Changes

A number of analysts have commented on the stock. Evercore ISI raised shares of Prudential Financial from an "underperform" rating to an "inline" rating and upped their price target for the company from $117.00 to $140.00 in a research report on Thursday, November 14th. Barclays raised their target price on Prudential Financial from $118.00 to $119.00 and gave the stock an "equal weight" rating in a research note on Friday, November 1st. TD Cowen boosted their price target on Prudential Financial from $130.00 to $133.00 and gave the company a "hold" rating in a research note on Wednesday, November 27th. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $121.00 price objective on shares of Prudential Financial in a research report on Wednesday, August 21st. Finally, Piper Sandler boosted their target price on shares of Prudential Financial from $121.00 to $127.00 and gave the company a "neutral" rating in a research report on Wednesday, October 2nd. Eleven investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $126.33.

Prudential Financial Company 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.