OMNI 360 Wealth Inc. Invests $203,000 in Prudential Financial, Inc. (NYSE:PRU)

OMNI 360 Wealth Inc. acquired a new position in shares of Prudential Financial, Inc. (NYSE:PRU) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,726 shares of the financial services provider’s stock, valued at approximately $203,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Choreo LLC increased its position in Prudential Financial by 163.5% during the 4th quarter. Choreo LLC now owns 6,940 shares of the financial services provider’s stock worth $720,000 after purchasing an additional 4,306 shares in the last quarter. Cullinan Associates Inc. increased its position in Prudential Financial by 2,355.0% during the 1st quarter. Cullinan Associates Inc. now owns 151,598 shares of the financial services provider’s stock worth $17,798,000 after purchasing an additional 145,423 shares in the last quarter. Greenwood Capital Associates LLC purchased a new stake in Prudential Financial during the 4th quarter worth about $1,087,000. Crestline Management LP increased its position in Prudential Financial by 50.0% during 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 during the 4th quarter worth about $761,000. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Insider Buying and Selling

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 652,884 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Prudential Financial news, SVP Timothy L. Schmidt sold 5,189 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $116.58, for a total value of $604,933.62. Following the transaction, the senior vice president now directly owns 12,236 shares of the company’s stock, valued at approximately $1,426,472.88. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Insurance Co Of Ame Prudential bought 652,884 shares of the business’s stock in a transaction on Thursday, June 20th. The stock was acquired at an average cost of $27.57 per share, for a total transaction of $18,000,011.88. Following the completion of the transaction, the insider now owns 3,883,390 shares in the company, valued at $107,065,062.30. The disclosure for this purchase can be found here. 0.34% of the stock is currently owned by corporate insiders.

Prudential Financial Trading Down 0.0 %

Shares of NYSE:PRU traded down $0.04 during trading on Wednesday, reaching $118.51. 718,184 shares of the stock were exchanged, compared to its average volume of 1,472,309. The firm’s 50-day moving average price is $116.63 and its 200 day moving average price is $111.15. The firm has a market cap of $42.55 billion, a price-to-earnings ratio of 20.16, a price-to-earnings-growth ratio of 0.88 and a beta of 1.34. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.13 and a current ratio of 0.13. Prudential Financial, Inc. has a 12-month low of $87.57 and a 12-month high of $121.39.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $3.12 EPS for the quarter, missing the consensus estimate of $3.16 by ($0.04). The company had revenue of $15.01 billion for the quarter, compared to analyst estimates of $14.50 billion. Prudential Financial had a return on equity of 15.50% and a net margin of 3.76%. The business’s revenue was up 69.9% on a year-over-year basis. During the same period last year, the firm posted $2.66 earnings per share. On average, sell-side analysts anticipate that Prudential Financial, Inc. will post 13.41 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

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

Analyst Ratings Changes

Several research firms have commented on PRU. Evercore ISI lifted their price target on Prudential Financial from $115.00 to $116.00 and gave the company an “underperform” rating in a report on Thursday, April 25th. Piper Sandler lowered their price target on Prudential Financial from $125.00 to $121.00 and set a “neutral” rating for the company in a report on Monday, May 6th. Wells Fargo & Company lifted their price target on Prudential Financial from $100.00 to $106.00 and gave the company an “underweight” rating in a report on Thursday, April 11th. Keefe, Bruyette & Woods lifted their price target on Prudential Financial from $112.00 to $118.00 and gave the company a “market perform” rating in a report on Wednesday, April 10th. Finally, Morgan Stanley lifted their price target on Prudential Financial from $109.00 to $117.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Prudential Financial has a consensus rating of “Hold” and a consensus price target of $115.92.

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.