OMNI 360 Wealth Inc. Takes Position in Prudential Financial, Inc. (NYSE:PRU)

OMNI 360 Wealth Inc. acquired a new stake in shares of Prudential Financial, Inc. (NYSE:PRU) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,726 shares of the financial services provider’s stock, valued at approximately $203,000.

Other hedge funds have also recently modified their holdings of the company. Choreo LLC increased its holdings in Prudential Financial by 163.5% in the 4th quarter. Choreo LLC now owns 6,940 shares of the financial services provider’s stock worth $720,000 after buying an additional 4,306 shares during the period. Cullinan Associates Inc. increased its holdings in Prudential Financial by 2,355.0% in the 1st quarter. Cullinan Associates Inc. now owns 151,598 shares of the financial services provider’s stock worth $17,798,000 after buying an additional 145,423 shares during the period. Greenwood Capital Associates LLC purchased a new stake in Prudential Financial in the 4th quarter worth approximately $1,087,000. Crestline Management LP boosted its position in Prudential Financial by 50.0% in the 4th quarter. Crestline Management LP now owns 60,000 shares of the financial services provider’s stock worth $6,223,000 after purchasing an additional 20,000 shares in the last quarter. Finally, Nomura Holdings Inc. purchased a new stake in Prudential Financial in the 4th quarter worth approximately $761,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

Insider Buying and Selling at Prudential Financial

In other Prudential Financial news, EVP Robert Falzon sold 130,092 shares of Prudential Financial stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $118.57, for a total value of $15,425,008.44. Following the completion of the transaction, the executive vice president now directly owns 202,083 shares of the company’s stock, valued at approximately $23,960,981.31. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, major shareholder Insurance Co Of Ame Prudential bought 652,884 shares of the company’s stock in a transaction on Thursday, June 20th. The stock was bought at an average cost of $27.57 per share, with a total value of $18,000,011.88. Following the transaction, the insider now directly owns 3,883,390 shares in the company, valued at approximately $107,065,062.30. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Robert Falzon sold 130,092 shares of the business’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $118.57, for a total value of $15,425,008.44. Following the transaction, the executive vice president now directly owns 202,083 shares of the company’s stock, valued at $23,960,981.31. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on PRU. Jefferies Financial Group lowered their price objective on Prudential Financial from $143.00 to $141.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. Keefe, Bruyette & Woods upped their price objective on Prudential Financial from $112.00 to $118.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 10th. JPMorgan Chase & Co. increased their target price on Prudential Financial from $118.00 to $128.00 and gave the company a “neutral” rating in a research report on Tuesday. Evercore ISI lifted their price target on shares of Prudential Financial from $115.00 to $116.00 and gave the company an “underperform” rating in a research note on Thursday, April 25th. Finally, Morgan Stanley lifted their price target on shares of Prudential Financial from $109.00 to $117.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $115.92.

Prudential Financial Trading Down 0.0 %

PRU traded down $0.04 on Wednesday, hitting $118.51. The company had a trading volume of 718,184 shares, compared to its average volume of 1,472,309. The firm has a market cap of $42.55 billion, a P/E ratio of 20.16, a PEG ratio of 0.88 and a beta of 1.34. Prudential Financial, Inc. has a 1 year low of $87.57 and a 1 year high of $121.39. The company’s fifty day moving average price is $116.63 and its 200 day moving average price is $111.15. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.67.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $3.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.16 by ($0.04). The company had revenue of $15.01 billion during the quarter, compared to analysts’ expectations of $14.50 billion. Prudential Financial had a net margin of 3.76% and a return on equity of 15.50%. The firm’s quarterly revenue was up 69.9% on a year-over-year basis. During the same quarter last year, the firm posted $2.66 earnings per share. As a group, equities analysts expect that Prudential Financial, Inc. will post 13.41 earnings per share for the current year.

Prudential Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Tuesday, May 21st were issued a $1.30 dividend. The ex-dividend date was Monday, May 20th. This represents a $5.20 annualized dividend and a yield of 4.39%. Prudential Financial’s dividend payout ratio (DPR) is currently 88.44%.

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.