McGlone Suttner Wealth Management Inc. Buys 433 Shares of Prudential Financial, Inc. (NYSE:PRU)

McGlone Suttner Wealth Management Inc. raised its stake in Prudential Financial, Inc. (NYSE:PRU) by 6.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,743 shares of the financial services provider’s stock after acquiring an additional 433 shares during the period. McGlone Suttner Wealth Management Inc.’s holdings in Prudential Financial were worth $799,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of PRU. Grove Bank & Trust increased its stake in Prudential Financial by 65.9% during the 4th quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 87 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of Prudential Financial during the third quarter valued at approximately $31,000. Quarry LP raised its holdings in Prudential Financial by 376.3% in the 3rd quarter. Quarry LP now owns 281 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 222 shares during the last quarter. Retirement Wealth Solutions LLC bought a new position in Prudential Financial in the 4th quarter valued at approximately $37,000. Finally, Tompkins Financial Corp boosted its stake in Prudential Financial by 61.7% during the 3rd quarter. Tompkins Financial Corp now owns 367 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 140 shares during the last quarter. 56.83% of the stock is currently owned by institutional investors.

Insider Transactions at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential acquired 537,249 shares of the company’s stock in a transaction on Monday, November 25th. The stock was bought at an average cost of $27.92 per share, with a total value of $14,999,992.08. Following the completion of the purchase, the insider now directly owns 4,780,293 shares of the company’s stock, valued at $133,465,780.56. This represents a 12.66 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.31% of the company’s stock.

Prudential Financial Stock Down 0.5 %

Shares of PRU opened at $116.75 on Friday. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.60. Prudential Financial, Inc. has a 12-month low of $100.60 and a 12-month high of $130.55. The business’s 50 day moving average is $121.68 and its 200 day moving average is $120.69. The company has a market capitalization of $41.56 billion, a PE ratio of 10.38, a price-to-earnings-growth ratio of 1.09 and a beta of 1.31.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.47 by $0.01. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. The company had revenue of $19.48 billion for the quarter, compared to the consensus estimate of $14.57 billion. During the same period in the previous year, the firm posted $3.44 EPS. Research analysts expect that Prudential Financial, Inc. will post 13.24 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, November 19th were given a dividend of $1.30 per share. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $5.20 annualized dividend and a yield of 4.45%. Prudential Financial’s dividend payout ratio (DPR) is currently 46.22%.

Wall Street Analyst Weigh In

PRU has been the topic of several recent analyst reports. Keefe, Bruyette & Woods dropped their price objective on Prudential Financial from $135.00 to $129.00 and set a “market perform” rating on the stock in a research report on Thursday, January 16th. Barclays lifted their price target on shares of Prudential Financial from $127.00 to $128.00 and gave the stock an “equal weight” rating in a research note on Thursday. Jefferies Financial Group increased their price objective on shares of Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. 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, Evercore ISI raised Prudential Financial from an “underperform” rating to an “inline” rating and lifted their price objective for the stock from $117.00 to $140.00 in a report on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $125.31.

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.