OmniStar Financial Group Inc. Acquires Shares of 5,427 Prudential Financial, Inc. (NYSE:PRU)

OmniStar Financial Group Inc. purchased a new position in Prudential Financial, Inc. (NYSE:PRU - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,427 shares of the financial services provider's stock, valued at approximately $660,000.

A number of other institutional investors have also added to or reduced their stakes in PRU. Creekmur Asset Management LLC increased its stake in Prudential Financial by 78.8% in the 1st quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider's stock worth $29,000 after acquiring an additional 108 shares during the last quarter. Lynx Investment Advisory bought a new position in Prudential Financial during the second quarter valued at $29,000. Strategic Financial Concepts LLC grew its stake in shares of Prudential Financial by 1,312.4% in the 2nd quarter. Strategic Financial Concepts LLC now owns 26,934 shares of the financial services provider's stock worth $32,000 after buying an additional 25,027 shares in the last quarter. Crewe Advisors LLC bought a new stake in Prudential Financial during the first quarter worth approximately $33,000. Finally, ESL Trust Services LLC purchased a new stake in Prudential Financial during the first quarter valued at approximately $34,000. 56.83% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Prudential Financial

In related 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 sale, the executive vice president now owns 14,535 shares of the company's stock, valued at approximately $1,648,705.05. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Caroline Feeney sold 1,110 shares of the firm'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 value of $133,166.70. Following the transaction, the executive vice president now owns 10,175 shares in the company, valued at $1,220,694.75. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Ann M. Kappler sold 2,839 shares of the business's stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $113.43, for a total value of $322,027.77. Following the sale, the executive vice president now owns 14,535 shares of the company's stock, valued at $1,648,705.05. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is owned by company insiders.

Prudential Financial Stock Down 0.4 %

Shares of PRU stock traded down $0.45 during trading hours on Friday, reaching $127.37. 1,055,546 shares of the company's stock were exchanged, compared to its average volume of 1,490,606. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.65. The stock's fifty day moving average price is $118.85 and its two-hundred day moving average price is $117.49. Prudential Financial, Inc. has a 1 year low of $87.95 and a 1 year high of $128.52. The stock has a market cap of $45.47 billion, a PE ratio of 16.37, a PEG ratio of 0.98 and a beta of 1.30.

Prudential Financial (NYSE:PRU - Get Free Report) last issued its earnings results on Thursday, August 1st. The financial services provider reported $3.39 EPS for the quarter, missing analysts' consensus estimates of $3.43 by ($0.04). The company had revenue of $13.84 billion during the quarter, compared to analysts' expectations of $13.78 billion. Prudential Financial had a return on equity of 16.00% and a net margin of 4.86%. Research analysts predict that Prudential Financial, Inc. will post 13.29 EPS for the current year.

Prudential Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Tuesday, August 20th were paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 4.08%. The ex-dividend date of this dividend was Tuesday, August 20th. Prudential Financial's payout ratio is currently 66.84%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on PRU shares. Citigroup boosted their target price on Prudential Financial from $104.00 to $120.00 and gave the company a "neutral" rating in a research report on Tuesday, July 23rd. Wells Fargo & Company raised their target price on shares of Prudential Financial from $113.00 to $116.00 and gave the stock an "equal weight" rating in a report on Thursday, October 10th. Piper Sandler upped their price target on shares of Prudential Financial from $121.00 to $127.00 and gave the company a "neutral" rating in a report on Wednesday, October 2nd. Bank of America boosted their target price on shares of Prudential Financial from $109.00 to $118.00 and gave the company a "neutral" rating in a research note on Thursday, October 10th. Finally, Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $121.00 price target on shares of Prudential Financial in a research note on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $123.69.

About Prudential Financial

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.