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

McGlone Suttner Wealth Management Inc. increased its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 6.9% in the fourth quarter, according to its most recent filing with the SEC. 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 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Grove Bank & Trust lifted its position in shares of Prudential Financial by 65.9% during the fourth quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 87 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in Prudential Financial in the 3rd quarter worth about $31,000. Quarry LP increased its position in shares of Prudential Financial by 376.3% during the third 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 period. Retirement Wealth Solutions LLC bought a new stake in shares of Prudential Financial during the fourth quarter valued at approximately $37,000. Finally, Tompkins Financial Corp boosted its holdings in shares of Prudential Financial by 61.7% in the third 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 period. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Prudential Financial Trading Down 0.5 %

Prudential Financial stock opened at $116.75 on Friday. The stock has a 50-day moving average price of $121.68 and a 200 day moving average price of $120.69. The company has a market capitalization of $41.56 billion, a price-to-earnings ratio of 10.38, a price-to-earnings-growth ratio of 1.09 and a beta of 1.31. Prudential Financial, Inc. has a 52 week low of $100.60 and a 52 week high of $130.55. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.60.

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

Prudential Financial Dividend Announcement

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

Insider Transactions at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential bought 537,249 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was purchased at an average cost of $27.92 per share, for a total transaction of $14,999,992.08. Following the purchase, the insider now directly owns 4,780,293 shares in the company, valued at approximately $133,465,780.56. This trade represents a 12.66 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PRU. Wells Fargo & Company decreased their target price on Prudential Financial from $117.00 to $115.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. Evercore ISI upgraded Prudential Financial from an “underperform” rating to an “inline” rating and lifted their price objective for the company from $117.00 to $140.00 in a report on Thursday, November 14th. Piper Sandler dropped their target price on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Keefe, Bruyette & Woods reduced their price target on shares of Prudential Financial from $135.00 to $129.00 and set a “market perform” rating for the company in a report on Thursday, January 16th. Finally, Barclays increased their price objective on shares of Prudential Financial from $127.00 to $128.00 and gave the company an “equal weight” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, eleven have given 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, the stock presently has a consensus rating of “Hold” and a consensus price target of $125.31.

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.