Laffer Investments Has Lowered Stake in Prudential Finl (PRU) by $150.97 Million as Valuation Declined; Nj State Employees Deferred Compensation Plan Decreased Rush Enterprises (RUSHA) Holding as Market Value Rose

January 14, 2018 - By Darrin Black

Nj State Employees Deferred Compensation Plan decreased its stake in Rush Enterprises Inc (RUSHA) by 42.86% based on its latest 2017Q3 regulatory filing with the SEC. Nj State Employees Deferred Compensation Plan sold 15,000 shares as the company’s stock rose 4.19% with the market. The institutional investor held 20,000 shares of the consumer durables company at the end of 2017Q3, valued at $926,000, down from 35,000 at the end of the previous reported quarter. Nj State Employees Deferred Compensation Plan who had been investing in Rush Enterprises Inc for a number of months, seems to be less bullish one the $2.11 billion market cap company. The stock decreased 0.87% or $0.47 during the last trading session, reaching $53.57. About 246,865 shares traded or 13.58% up from the average. Rush Enterprises, Inc. (NASDAQ:RUSHA) has risen 80.92% since January 14, 2017 and is uptrending. It has outperformed by 64.22% the S&P500.

Laffer Investments decreased its stake in Prudential Finl Inc (PRU) by 6.77% based on its latest 2017Q3 regulatory filing with the SEC. Laffer Investments sold 1,420 shares as the company’s stock declined 6.41% while stock markets rallied. The institutional investor held 19,567 shares of the finance company at the end of 2017Q3, valued at $2.08 billion, down from 20,987 at the end of the previous reported quarter. Laffer Investments who had been investing in Prudential Finl Inc for a number of months, seems to be less bullish one the $52.72 billion market cap company. The stock increased 0.32% or $0.4 during the last trading session, reaching $124.12. About 1.37M shares traded. Prudential Financial, Inc. (NYSE:PRU) has risen 33.66% since January 14, 2017 and is uptrending. It has outperformed by 16.96% the S&P500.

Analysts await Prudential Financial, Inc. (NYSE:PRU) to report earnings on February, 14. They expect $2.54 EPS, up 3.25% or $0.08 from last year’s $2.46 per share. PRU’s profit will be $1.08 billion for 12.22 P/E if the $2.54 EPS becomes a reality. After $3.01 actual EPS reported by Prudential Financial, Inc. for the previous quarter, Wall Street now forecasts -15.61% negative EPS growth.

Investors sentiment decreased to 1 in 2017 Q3. Its down 0.20, from 1.2 in 2017Q2. It fall, as 43 investors sold PRU shares while 274 reduced holdings. 73 funds opened positions while 245 raised stakes. 265.93 million shares or 0.75% less from 267.93 million shares in 2017Q2 were reported. Citigroup Inc reported 473,932 shares stake. Focused Wealth reported 0.05% of its portfolio in Prudential Financial, Inc. (NYSE:PRU). Cetera Advsr Limited Liability Company holds 2,828 shares or 0.02% of its portfolio. Comerica Securities has invested 0.06% in Prudential Financial, Inc. (NYSE:PRU). Sentinel Company Lba holds 1.21% or 67,715 shares in its portfolio. Advisor Llc has 9,814 shares. Massachusetts-based Boston Private Wealth Limited Liability Com has invested 0.08% in Prudential Financial, Inc. (NYSE:PRU). Thomas White Ltd owns 0.19% invested in Prudential Financial, Inc. (NYSE:PRU) for 10,126 shares. Zacks Investment accumulated 449,743 shares. Mengis Cap Management invested 1.98% of its portfolio in Prudential Financial, Inc. (NYSE:PRU). Arrow Fincl invested in 4,452 shares or 0.11% of the stock. Massachusetts Svcs Ma stated it has 6.39M shares. Balyasny Asset Limited Company owns 1.19M shares. Evercore Wealth Management Limited Co reported 2,485 shares. Veritable Limited Partnership reported 0.04% stake.

Since August 7, 2017, it had 0 buys, and 2 insider sales for $2.10 million activity. Shares for $463,640 were sold by Pelletier Stephen on Monday, August 7.

Among 14 analysts covering Prudential Financial (NYSE:PRU), 9 have Buy rating, 0 Sell and 5 Hold. Therefore 64% are positive. Prudential Financial had 45 analyst reports since August 6, 2015 according to SRatingsIntel. Keefe Bruyette & Woods maintained it with “Buy” rating and $122.0 target in Friday, November 10 report. Deutsche Bank upgraded the stock to “Buy” rating in Monday, September 7 report. Atlantic Securities upgraded Prudential Financial, Inc. (NYSE:PRU) on Thursday, January 11 to “Overweight” rating. The firm has “Neutral” rating given on Friday, October 7 by Credit Suisse. The stock has “Neutral” rating by Bank of America on Wednesday, January 20. RBC Capital Markets maintained it with “Hold” rating and $11300 target in Monday, July 31 report. Sandler O’Neill maintained the shares of PRU in report on Wednesday, January 10 with “Buy” rating. Morgan Stanley downgraded the shares of PRU in report on Wednesday, December 14 to “Equal-Weight” rating. As per Friday, February 10, the company rating was downgraded by Atlantic Securities. The stock of Prudential Financial, Inc. (NYSE:PRU) earned “Hold” rating by RBC Capital Markets on Tuesday, September 5.

Laffer Investments, which manages about $614.32M and $378.86B US Long portfolio, upped its stake in Ishares Intermediate Credit (CIU) by 130 shares to 5,155 shares, valued at $567.87 million in 2017Q3, according to the filing. It also increased its holding in Bunge Ltd. Perpetual Conv Pfd (BGEPF) by 3,508 shares in the quarter, for a total of 18,829 shares, and has risen its stake in Ishares Iboxx Investment Grade (LQD).

Nj State Employees Deferred Compensation Plan, which manages about $551.67M US Long portfolio, upped its stake in Patrick Inds Inc (NASDAQ:PATK) by 4,000 shares to 10,000 shares, valued at $841,000 in 2017Q3, according to the filing. It also increased its holding in Seaworld Entmt Inc (NYSE:SEAS) by 36,000 shares in the quarter, for a total of 76,000 shares, and has risen its stake in Oasis Pete Inc New (NYSE:OAS).

Analysts await Rush Enterprises, Inc. (NASDAQ:RUSHA) to report earnings on February, 21. They expect $0.55 earnings per share, up 77.42% or $0.24 from last year’s $0.31 per share. RUSHA’s profit will be $21.68M for 24.35 P/E if the $0.55 EPS becomes a reality. After $0.72 actual earnings per share reported by Rush Enterprises, Inc. for the previous quarter, Wall Street now forecasts -23.61% negative EPS growth.

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