78,788 Shares in Prudential Financial, Inc. (NYSE:PRU) Purchased by Hantz Financial Services Inc.

Hantz Financial Services Inc. purchased a new position in shares of Prudential Financial, Inc. (NYSE:PRU) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 78,788 shares of the financial services provider’s stock, valued at approximately $9,233,000.

A number of other hedge funds have also bought and sold shares of PRU. Choreo LLC grew its stake in Prudential Financial by 163.5% during the fourth 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 in the last quarter. Cullinan Associates Inc. grew its stake in Prudential Financial by 2,355.0% during the first 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 in the last quarter. National Bank of Canada FI grew its stake in Prudential Financial by 44.9% during the first quarter. National Bank of Canada FI now owns 230,044 shares of the financial services provider’s stock worth $27,327,000 after buying an additional 71,274 shares in the last quarter. Greenwood Capital Associates LLC acquired a new stake in Prudential Financial during the fourth quarter worth about $1,087,000. Finally, Crestline Management LP grew its stake in Prudential Financial by 50.0% during the fourth quarter. Crestline Management LP now owns 60,000 shares of the financial services provider’s stock worth $6,223,000 after buying an additional 20,000 shares in the last quarter. 56.83% of the stock is owned by institutional investors.

Insider Activity

In related news, major shareholder Insurance Co Of Ame Prudential acquired 652,884 shares of the stock in a transaction dated Thursday, June 20th. The stock was bought at an average price of $27.57 per share, for a total transaction of $18,000,011.88. Following the purchase, the insider now directly owns 3,883,390 shares of the company’s stock, valued at approximately $107,065,062.30. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, EVP Ann M. Kappler sold 2,839 shares of Prudential Financial stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $113.43, for a total value of $322,027.77. Following the completion of the sale, the executive vice president now owns 14,535 shares in the company, valued at approximately $1,648,705.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential purchased 652,884 shares of Prudential Financial stock in a transaction that occurred on Thursday, June 20th. The stock was acquired at an average cost of $27.57 per share, with a total value of $18,000,011.88. Following the transaction, the insider now owns 3,883,390 shares in the company, valued at approximately $107,065,062.30. The disclosure for this purchase can be found here. 0.31% of the stock is currently owned by company insiders.

Prudential Financial Stock Up 1.1 %

Prudential Financial stock opened at $121.16 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.13 and a current ratio of 0.13. Prudential Financial, Inc. has a 52-week low of $87.95 and a 52-week high of $128.52. The firm has a 50 day moving average price of $118.10 and a two-hundred day moving average price of $115.22. The firm has a market cap of $43.25 billion, a price-to-earnings ratio of 20.61, a PEG ratio of 0.94 and a beta of 1.34.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Thursday, August 1st. The financial services provider reported $3.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.43 by ($0.04). Prudential Financial had a return on equity of 16.00% and a net margin of 4.86%. The firm had revenue of $13.84 billion for the quarter, compared to the consensus estimate of $13.78 billion. Equities analysts predict that Prudential Financial, Inc. will post 13.33 EPS for the current year.

Prudential Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Tuesday, August 20th will be paid a $1.30 dividend. The ex-dividend date is Tuesday, August 20th. This represents a $5.20 annualized dividend and a dividend yield of 4.29%. Prudential Financial’s dividend payout ratio is currently 88.44%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PRU. Wells Fargo & Company upgraded shares of Prudential Financial from an “underweight” rating to an “equal weight” rating and set a $113.00 price objective on the stock in a research note on Monday, August 12th. Piper Sandler reduced their price target on shares of Prudential Financial from $125.00 to $121.00 and set a “neutral” rating on the stock in a research note on Monday, May 6th. JPMorgan Chase & Co. raised their price target on shares of Prudential Financial from $118.00 to $128.00 and gave the company a “neutral” rating in a research note on Tuesday, July 2nd. Jefferies Financial Group reduced their price target on shares of Prudential Financial from $143.00 to $141.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and issued a $121.00 price target on shares of Prudential Financial in a research note on Wednesday, August 21st. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $119.33.

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.