Prudential Financial, Inc. $PRU Shares Sold by Agate Pass Investment Management LLC

Agate Pass Investment Management LLC cut its stake in Prudential Financial, Inc. (NYSE:PRU) by 18.7% during the 2nd quarter, Holdings Channel.com reports. The fund owned 9,210 shares of the financial services provider’s stock after selling 2,120 shares during the period. Agate Pass Investment Management LLC’s holdings in Prudential Financial were worth $990,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Meeder Asset Management Inc. boosted its position in shares of Prudential Financial by 90.2% in the first quarter. Meeder Asset Management Inc. now owns 234 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 111 shares during the last quarter. Cheviot Value Management LLC acquired a new stake in shares of Prudential Financial in the first quarter worth approximately $26,000. North Capital Inc. acquired a new stake in shares of Prudential Financial in the first quarter worth approximately $28,000. AlphaQuest LLC grew its holdings in shares of Prudential Financial by 12,250.0% during the 1st quarter. AlphaQuest LLC now owns 247 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 245 shares during the period. Finally, Opal Wealth Advisors LLC purchased a new stake in shares of Prudential Financial during the 1st quarter worth about $30,000. 56.83% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Prudential Financial news, EVP Ann M. Kappler sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $109.65, for a total value of $438,600.00. Following the transaction, the executive vice president directly owned 21,506 shares of the company’s stock, valued at $2,358,132.90. This represents a 15.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.25% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Morgan Stanley boosted their target price on Prudential Financial from $117.00 to $118.00 and gave the stock an “equal weight” rating in a report on Tuesday. Wall Street Zen upgraded Prudential Financial from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. JPMorgan Chase & Co. boosted their target price on Prudential Financial from $126.00 to $136.00 and gave the stock a “neutral” rating in a report on Tuesday, July 8th. Barclays decreased their target price on Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating for the company in a report on Wednesday. Finally, Piper Sandler decreased their price target on Prudential Financial from $109.00 to $108.00 and set a “neutral” rating for the company in a report on Wednesday, July 16th. One research analyst has rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Prudential Financial presently has an average rating of “Hold” and an average target price of $122.27.

Prudential Financial Stock Down 3.4%

NYSE PRU opened at $99.08 on Friday. The stock has a market cap of $34.88 billion, a PE ratio of 21.97, a P/E/G ratio of 0.91 and a beta of 1.04. Prudential Financial, Inc. has a fifty-two week low of $90.38 and a fifty-two week high of $130.55. The business has a 50 day moving average price of $105.15 and a two-hundred day moving average price of $104.54. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.60.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $3.58 earnings per share for the quarter. Prudential Financial had a return on equity of 15.80% and a net margin of 2.75%.The firm had revenue of $8.35 billion during the quarter. As a group, sell-side analysts predict that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 11th. Shareholders of record on Tuesday, August 19th were given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date of this dividend was Tuesday, August 19th. Prudential Financial’s dividend payout ratio is presently 119.73%.

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.