Nisa Investment Advisors LLC Purchases 1,204 Shares of Prudential Financial, Inc. $PRU

Nisa Investment Advisors LLC increased its stake in Prudential Financial, Inc. (NYSE:PRU) by 0.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 140,857 shares of the financial services provider’s stock after purchasing an additional 1,204 shares during the period. Nisa Investment Advisors LLC’s holdings in Prudential Financial were worth $15,134,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Invesco Ltd. increased its position in shares of Prudential Financial by 2.7% in the first quarter. Invesco Ltd. now owns 4,440,003 shares of the financial services provider’s stock worth $495,859,000 after purchasing an additional 116,079 shares during the period. Goldman Sachs Group Inc. grew its position in Prudential Financial by 19.2% in the first quarter. Goldman Sachs Group Inc. now owns 4,206,453 shares of the financial services provider’s stock valued at $469,777,000 after acquiring an additional 678,028 shares during the last quarter. Ameriprise Financial Inc. grew its position in Prudential Financial by 5.6% in the first quarter. Ameriprise Financial Inc. now owns 1,801,551 shares of the financial services provider’s stock valued at $201,201,000 after acquiring an additional 95,021 shares during the last quarter. Amundi grew its position in Prudential Financial by 14.1% in the first quarter. Amundi now owns 1,751,633 shares of the financial services provider’s stock valued at $183,571,000 after acquiring an additional 216,119 shares during the last quarter. Finally, Nordea Investment Management AB grew its position in Prudential Financial by 49.2% in the second quarter. Nordea Investment Management AB now owns 1,720,781 shares of the financial services provider’s stock valued at $184,192,000 after acquiring an additional 567,571 shares during the last quarter. Institutional investors own 56.83% of the company’s stock.

Prudential Financial Stock Performance

NYSE:PRU opened at $102.23 on Monday. The stock has a market cap of $35.99 billion, a P/E ratio of 22.67, a price-to-earnings-growth ratio of 0.89 and a beta of 1.04. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.60. The stock’s 50-day moving average is $104.68 and its 200-day moving average is $104.27. Prudential Financial, Inc. has a 1-year low of $90.38 and a 1-year high of $130.55.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $3.58 EPS for the quarter. The company had revenue of $8.35 billion for the quarter. Prudential Financial had a return on equity of 15.80% and a net margin of 2.75%. Equities research analysts anticipate that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 11th. Investors of record on Tuesday, August 19th were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date of this dividend was Tuesday, August 19th. Prudential Financial’s payout ratio is currently 119.73%.

Wall Street Analysts Forecast Growth

PRU has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lifted their target price on Prudential Financial from $126.00 to $136.00 and gave the company a “neutral” rating in a research report on Tuesday, July 8th. Barclays decreased their target price on Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 8th. Wall Street Zen upgraded Prudential Financial from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Wells Fargo & Company cut their price target on Prudential Financial from $116.00 to $113.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 16th. Finally, Wolfe Research assumed coverage on Prudential Financial in a report on Tuesday, September 16th. They set a “peer perform” rating on the stock. One equities research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $122.27.

Insider Activity at Prudential Financial

In related news, EVP Ann M. Kappler sold 4,000 shares of Prudential Financial stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $109.65, for a total value of $438,600.00. Following the transaction, the executive vice president directly owned 21,506 shares of the company’s stock, valued at $2,358,132.90. The trade was a 15.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.25% of the stock is currently owned by corporate insiders.

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.