Redhawk Wealth Advisors Inc. Acquires 724 Shares of Prudential Financial, Inc. (NYSE:PRU)

Redhawk Wealth Advisors Inc. lifted its holdings in Prudential Financial, Inc. (NYSE:PRU) by 8.4% in the third quarter, HoldingsChannel reports. The fund owned 9,321 shares of the financial services provider’s stock after buying an additional 724 shares during the period. Redhawk Wealth Advisors Inc.’s holdings in Prudential Financial were worth $1,129,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Cullinan Associates Inc. grew 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 acquiring an additional 145,423 shares during the last quarter. National Bank of Canada FI grew its holdings in shares of Prudential Financial by 44.9% in 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 purchasing an additional 71,274 shares during the last quarter. Nomura Holdings Inc. purchased a new position in shares of Prudential Financial in the fourth quarter worth $761,000. Brookstone Capital Management raised its holdings in Prudential Financial by 1,635.0% during the 1st quarter. Brookstone Capital Management now owns 87,201 shares of the financial services provider’s stock valued at $10,237,000 after buying an additional 82,175 shares during the last quarter. Finally, ORG Partners LLC purchased a new stake in Prudential Financial in the second quarter worth about $156,000. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Morgan Stanley decreased their target price on Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating for the company in a research report on Monday, August 19th. Barclays started coverage on Prudential Financial in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $118.00 price objective for the company. Piper Sandler increased their price target on shares of Prudential Financial from $121.00 to $127.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Jefferies Financial Group dropped their price objective 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, Wells Fargo & Company raised their target price 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, October 10th. One research 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. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $123.69.

Insider Activity

In related news, major shareholder Insurance Co Of Ame Prudential bought 261,059 shares of the business’s stock in a transaction on Tuesday, October 8th. The stock was acquired at an average price of $27.58 per share, with a total value of $7,200,007.22. Following the transaction, the insider now owns 4,208,549 shares in the company, valued at approximately $116,071,781.42. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. In related news, EVP Caroline Feeney sold 1,110 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total transaction of $133,166.70. Following the completion of the transaction, the executive vice president now directly owns 10,175 shares in the company, valued at approximately $1,220,694.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Insurance Co Of Ame Prudential bought 261,059 shares of the firm’s stock in a transaction on Tuesday, October 8th. The shares were purchased at an average price of $27.58 per share, for a total transaction of $7,200,007.22. Following the purchase, the insider now owns 4,208,549 shares in the company, valued at $116,071,781.42. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 0.31% of the stock is owned by corporate insiders.

Prudential Financial Price Performance

Shares of NYSE PRU opened at $125.17 on Tuesday. The company has a 50 day moving average of $117.33 and a 200 day moving average of $117.21. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.65. Prudential Financial, Inc. has a twelve month low of $87.95 and a twelve month high of $128.52. The firm has a market cap of $44.94 billion, a P/E ratio of 21.29, a PEG ratio of 0.97 and a beta of 1.30.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Thursday, August 1st. The financial services provider reported $3.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.43 by ($0.04). Prudential Financial had a net margin of 4.86% and a return on equity of 16.00%. The business had revenue of $13.84 billion for the quarter, compared to the consensus estimate of $13.78 billion. As a group, research analysts expect that Prudential Financial, Inc. will post 13.28 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Tuesday, August 20th were paid a $1.30 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.15%. Prudential Financial’s dividend payout ratio is presently 88.44%.

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.