Prudential Financial, Inc. (NYSE:PRU) Shares Bought by McGlone Suttner Wealth Management Inc.

McGlone Suttner Wealth Management Inc. raised its stake in Prudential Financial, Inc. (NYSE:PRU) by 9.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,983 shares of the financial services provider’s stock after acquiring an additional 432 shares during the quarter. McGlone Suttner Wealth Management Inc.’s holdings in Prudential Financial were worth $517,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. FMR LLC grew its position in shares of Prudential Financial by 2.9% in the third quarter. FMR LLC now owns 1,315,215 shares of the financial services provider’s stock valued at $124,801,000 after purchasing an additional 36,599 shares during the period. Czech National Bank grew its position in Prudential Financial by 46.8% during the third quarter. Czech National Bank now owns 63,444 shares of the financial services provider’s stock valued at $6,020,000 after acquiring an additional 20,235 shares during the period. Victory Capital Management Inc. grew its position in Prudential Financial by 14.5% during the third quarter. Victory Capital Management Inc. now owns 268,728 shares of the financial services provider’s stock valued at $25,500,000 after acquiring an additional 34,054 shares during the period. AustralianSuper Pty Ltd grew its position in Prudential Financial by 17.2% during the fourth quarter. AustralianSuper Pty Ltd now owns 868,535 shares of the financial services provider’s stock valued at $90,076,000 after acquiring an additional 127,772 shares during the period. Finally, Allen Mooney & Barnes Investment Advisors LLC purchased a new stake in Prudential Financial during the third quarter valued at about $9,507,000. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Prudential Financial Stock Up 0.3 %

NYSE PRU traded up $0.38 on Thursday, hitting $117.40. 1,169,489 shares of the stock traded hands, compared to its average volume of 1,578,307. The stock has a 50-day moving average of $108.53 and a 200 day moving average of $101.15. Prudential Financial, Inc. has a twelve month low of $77.22 and a twelve month high of $117.92. The company has a market capitalization of $42.15 billion, a P/E ratio of 17.55, a price-to-earnings-growth ratio of 0.85 and a beta of 1.36. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.65.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Tuesday, February 6th. The financial services provider reported $2.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.67 by ($0.09). Prudential Financial had a net margin of 4.89% and a return on equity of 14.52%. The firm had revenue of $13.02 billion for the quarter, compared to analyst estimates of $12.99 billion. During the same quarter in the previous year, the company earned $2.42 EPS. The company’s quarterly revenue was up 6.7% compared to the same quarter last year. As a group, analysts expect that Prudential Financial, Inc. will post 13.4 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Tuesday, February 20th were given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.43%. This is a boost from Prudential Financial’s previous quarterly dividend of $1.25. The ex-dividend date was Friday, February 16th. Prudential Financial’s dividend payout ratio is presently 77.73%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. UBS Group boosted their price target on Prudential Financial from $108.00 to $112.00 and gave the company a “neutral” rating in a research report on Monday, February 12th. Morgan Stanley upped their target price on Prudential Financial from $105.00 to $109.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 7th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $118.00 target price (down previously from $119.00) on shares of Prudential Financial in a research report on Wednesday, January 3rd. Raymond James downgraded Prudential Financial from a “strong-buy” rating to a “market perform” rating in a research report on Friday, February 9th. Finally, TheStreet raised Prudential Financial from a “c+” rating to an “a-” rating in a research report on Tuesday, February 6th. One analyst has rated the stock with a sell rating and ten have issued a hold rating to the stock. Based on data from MarketBeat.com, Prudential Financial currently has an average rating of “Hold” and a consensus target price of $105.60.

Insider Transactions at Prudential Financial

In other news, EVP Andrew F. Sullivan sold 7,685 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $111.57, for a total transaction of $857,415.45. Following the sale, the executive vice president now directly owns 13,691 shares in the company, valued at approximately $1,527,504.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Prudential Financial news, major shareholder Pgim Strategic Investments, In acquired 1,191,895 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was acquired at an average cost of $25.17 per share, with a total value of $29,999,997.15. Following the acquisition, the insider now directly owns 4,056,632 shares of the company’s stock, valued at approximately $102,105,427.44. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Andrew F. Sullivan sold 7,685 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $111.57, for a total value of $857,415.45. Following the completion of the transaction, the executive vice president now directly owns 13,691 shares of the company’s stock, valued at $1,527,504.87. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,255 shares of company stock worth $3,215,664. 0.31% of the stock is currently owned by company insiders.

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.