Nisa Investment Advisors LLC Sells 85,408 Shares of Prudential Financial, Inc. (NYSE:PRU)

Nisa Investment Advisors LLC trimmed its position in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 37.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 139,653 shares of the financial services provider's stock after selling 85,408 shares during the period. Nisa Investment Advisors LLC's holdings in Prudential Financial were worth $15,596,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Prudential Financial during the fourth quarter worth $115,878,000. Northern Trust Corp lifted its stake in Prudential Financial by 23.7% in the fourth quarter. Northern Trust Corp now owns 4,686,690 shares of the financial services provider's stock valued at $555,513,000 after buying an additional 897,916 shares during the period. GAMMA Investing LLC boosted its stake in Prudential Financial by 11,280.3% during the first quarter. GAMMA Investing LLC now owns 867,865 shares of the financial services provider's stock worth $96,923,000 after acquiring an additional 860,239 shares in the last quarter. Marshall Wace LLP grew its stake in shares of Prudential Financial by 322.9% in the 4th quarter. Marshall Wace LLP now owns 711,102 shares of the financial services provider's stock valued at $84,287,000 after buying an additional 542,964 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Prudential Financial by 11.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,410,363 shares of the financial services provider's stock valued at $404,230,000 after acquiring an additional 352,335 shares in the last quarter. 56.83% of the stock is owned by institutional investors.

Insider Transactions at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential bought 1,675,978 shares of the company's stock in a transaction dated Monday, June 16th. The stock was purchased at an average cost of $28.64 per share, with a total value of $48,000,009.92. Following the transaction, the insider owned 3,168,461 shares in the company, valued at approximately $90,744,723.04. This trade represents a 112.29% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.25% of the company's stock.

Prudential Financial Trading Down 1.3%

Prudential Financial stock traded down $1.35 during trading hours on Friday, reaching $105.80. The company had a trading volume of 1,425,059 shares, compared to its average volume of 1,664,329. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.17 and a quick ratio of 0.17. Prudential Financial, Inc. has a 12-month low of $90.38 and a 12-month high of $130.55. The firm has a market cap of $37.45 billion, a price-to-earnings ratio of 16.77, a P/E/G ratio of 1.01 and a beta of 1.07. The company has a 50-day moving average price of $105.23 and a 200 day moving average price of $108.79.

Prudential Financial (NYSE:PRU - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $3.29 EPS for the quarter, beating the consensus estimate of $3.18 by $0.11. The firm had revenue of $13.61 billion during the quarter, compared to the consensus estimate of $14.76 billion. Prudential Financial had a net margin of 3.84% and a return on equity of 15.84%. The company's quarterly revenue was down 38.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.12 earnings per share. Equities analysts forecast that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Tuesday, May 20th were issued a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 5.10%. The ex-dividend date of this dividend was Tuesday, May 20th. Prudential Financial's dividend payout ratio (DPR) is currently 85.58%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on PRU shares. Morgan Stanley lifted their price objective on shares of Prudential Financial from $108.00 to $117.00 and gave the company an "equal weight" rating in a report on Monday, May 19th. Barclays upped their price objective on Prudential Financial from $109.00 to $119.00 and gave the company an "equal weight" rating in a research note on Monday, July 7th. JPMorgan Chase & Co. boosted their target price on Prudential Financial from $126.00 to $136.00 and gave the company a "neutral" rating in a research note on Tuesday, July 8th. UBS Group cut their target price on shares of Prudential Financial from $122.00 to $110.00 and set a "neutral" rating for the company in a research report on Tuesday, May 27th. Finally, Wells Fargo & Company lifted their price objective on shares of Prudential Financial from $113.00 to $116.00 and gave the company an "equal weight" rating in a research note on Thursday. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Prudential Financial presently has an average rating of "Hold" and an average target price of $122.15.

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.