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

Agate Pass Investment Management LLC trimmed its holdings in Prudential Financial, Inc. (NYSE:PRU) by 18.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,210 shares of the financial services provider’s stock after selling 2,120 shares during the quarter. Agate Pass Investment Management LLC’s holdings in Prudential Financial were worth $990,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PRU. Brighton Jones LLC boosted its holdings in Prudential Financial by 3.7% in the fourth quarter. Brighton Jones LLC now owns 3,681 shares of the financial services provider’s stock valued at $436,000 after purchasing an additional 133 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Prudential Financial by 1.9% in the first quarter. GAMMA Investing LLC now owns 7,771 shares of the financial services provider’s stock valued at $868,000 after acquiring an additional 145 shares during the period. Handelsbanken Fonder AB boosted its holdings in shares of Prudential Financial by 5.8% in the first quarter. Handelsbanken Fonder AB now owns 69,561 shares of the financial services provider’s stock valued at $7,769,000 after acquiring an additional 3,811 shares during the period. NorthCrest Asset Manangement LLC boosted its holdings in shares of Prudential Financial by 3.8% in the first quarter. NorthCrest Asset Manangement LLC now owns 2,738 shares of the financial services provider’s stock valued at $306,000 after acquiring an additional 101 shares during the period. Finally, Verity & Verity LLC boosted its holdings in shares of Prudential Financial by 3.6% in the first quarter. Verity & Verity LLC now owns 189,321 shares of the financial services provider’s stock valued at $21,143,000 after acquiring an additional 6,620 shares during the period. 56.83% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Ann M. Kappler sold 4,000 shares of the business’s stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $109.65, for a total value of $438,600.00. Following the completion of the transaction, the executive vice president owned 21,506 shares of the company’s stock, valued at approximately $2,358,132.90. The trade was a 15.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

PRU has been the subject of several research analyst reports. Wall Street Zen raised Prudential Financial from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. Morgan Stanley increased their price target on Prudential Financial from $117.00 to $118.00 and gave the stock an “equal weight” rating in a report on Tuesday. Barclays decreased their price target on Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating for the company in a report on Wednesday. JPMorgan Chase & Co. increased their price target on Prudential Financial from $126.00 to $136.00 and gave the stock a “neutral” rating in a report on Tuesday, July 8th. Finally, Wolfe Research initiated coverage on Prudential Financial in a report on Tuesday, September 16th. They set a “peer perform” rating for the company. One analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Prudential Financial presently has a consensus rating of “Hold” and a consensus price target of $122.27.

Prudential Financial Trading Down 3.4%

NYSE:PRU opened at $99.08 on Friday. The company has a market capitalization of $34.88 billion, a PE ratio of 21.97, a price-to-earnings-growth ratio of 0.91 and a beta of 1.04. 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, Inc. has a 52-week low of $90.38 and a 52-week high of $130.55. The stock has a fifty day simple moving average of $105.15 and a 200-day simple moving average of $104.54.

Prudential Financial (NYSE:PRU) last announced its earnings results on Wednesday, January 15th. The financial services provider reported $3.58 earnings per share for the quarter. Prudential Financial had a net margin of 2.75% and a return on equity of 15.80%. The firm had revenue of $8.35 billion during the quarter. On average, equities research analysts expect that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

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

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.