Agate Pass Investment Management LLC Has $1.27 Million Stock Holdings in Prudential Financial, Inc. (NYSE:PRU)

Agate Pass Investment Management LLC grew its stake in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 68.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,330 shares of the financial services provider's stock after buying an additional 4,600 shares during the quarter. Agate Pass Investment Management LLC's holdings in Prudential Financial were worth $1,265,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Prudential Financial by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 41,850,558 shares of the financial services provider's stock valued at $4,960,547,000 after purchasing an additional 220,671 shares during the period. Geode Capital Management LLC lifted its position in shares of Prudential Financial by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 8,856,360 shares of the financial services provider's stock worth $1,050,635,000 after purchasing an additional 193,681 shares in the last quarter. Northern Trust Corp lifted its position in shares of Prudential Financial by 23.7% in the fourth quarter. Northern Trust Corp now owns 4,686,690 shares of the financial services provider's stock worth $555,513,000 after purchasing an additional 897,916 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Prudential Financial by 11.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,410,363 shares of the financial services provider's stock worth $404,230,000 after purchasing an additional 352,335 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Prudential Financial by 0.3% in the fourth quarter. Bank of New York Mellon Corp now owns 2,454,278 shares of the financial services provider's stock worth $290,906,000 after purchasing an additional 6,938 shares in the last quarter. Institutional investors and hedge funds own 56.83% of the company's stock.

Prudential Financial Stock Performance

Shares of PRU stock traded down $0.49 on Monday, hitting $103.40. The company's stock had a trading volume of 712,977 shares, compared to its average volume of 1,859,498. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.16 and a current ratio of 0.16. The stock's 50 day moving average is $103.48 and its 200-day moving average is $112.52. Prudential Financial, Inc. has a fifty-two week low of $90.38 and a fifty-two week high of $130.55. The company has a market capitalization of $36.60 billion, a PE ratio of 13.84, a PEG ratio of 0.98 and a beta of 1.07.

Prudential Financial (NYSE:PRU - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $3.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.18 by $0.11. The business had revenue of $13.61 billion during the quarter, compared to analysts' expectations of $14.76 billion. Prudential Financial had a return on equity of 15.86% and a net margin of 4.01%. The firm's revenue for the quarter was down 38.2% compared to the same quarter last year. During the same period in the previous year, the company posted $3.12 earnings per share. Equities research analysts expect that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Tuesday, May 20th will be paid a dividend of $1.35 per share. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $5.40 dividend on an annualized basis and a yield of 5.22%. Prudential Financial's payout ratio is 85.58%.

Insiders Place Their Bets

In other news, EVP Andrew F. Sullivan sold 6,000 shares of the company's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $105.98, for a total transaction of $635,880.00. Following the completion of the transaction, the executive vice president now directly owns 27,072 shares in the company, valued at approximately $2,869,090.56. This represents a 18.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Insurance Co Of Ame Prudential purchased 52,595 shares of the stock in a transaction dated Tuesday, March 25th. The shares were bought at an average price of $28.52 per share, with a total value of $1,500,009.40. Following the completion of the acquisition, the insider now directly owns 139,987 shares of the company's stock, valued at approximately $3,992,429.24. This represents a 60.18% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.25% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on PRU shares. Wells Fargo & Company boosted their price objective on shares of Prudential Financial from $108.00 to $113.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 6th. Wall Street Zen raised shares of Prudential Financial from a "sell" rating to a "hold" rating in a research report on Saturday. Barclays dropped their price target on shares of Prudential Financial from $134.00 to $106.00 and set an "equal weight" rating on the stock in a research report on Friday, April 11th. Piper Sandler dropped their price target on shares of Prudential Financial from $110.00 to $109.00 and set a "neutral" rating on the stock in a research report on Friday, May 2nd. Finally, Keefe, Bruyette & Woods dropped their price target on shares of Prudential Financial from $120.00 to $117.00 and set a "market perform" rating on the stock in a research report on Wednesday, May 7th. 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 issued a strong buy rating to the stock. According to MarketBeat, Prudential Financial currently has an average rating of "Hold" and a consensus target price of $120.15.

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.