Agate Pass Investment Management LLC Invests $798,000 in Prudential Financial, Inc. (NYSE:PRU)

Agate Pass Investment Management LLC purchased a new stake in Prudential Financial, Inc. (NYSE:PRU - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 6,730 shares of the financial services provider's stock, valued at approximately $798,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Avidian Wealth Enterprises LLC lifted its position in shares of Prudential Financial by 1.2% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 7,357 shares of the financial services provider's stock worth $891,000 after purchasing an additional 89 shares during the period. Daymark Wealth Partners LLC grew its stake in shares of Prudential Financial by 3.9% in the 3rd quarter. Daymark Wealth Partners LLC now owns 2,616 shares of the financial services provider's stock worth $317,000 after buying an additional 97 shares during the last quarter. UMB Bank n.a. boosted its stake in Prudential Financial by 2.7% in the 3rd quarter. UMB Bank n.a. now owns 3,660 shares of the financial services provider's stock worth $443,000 after purchasing an additional 97 shares in the last quarter. Pure Financial Advisors LLC lifted its stake in shares of Prudential Financial by 2.7% in the third quarter. Pure Financial Advisors LLC now owns 3,748 shares of the financial services provider's stock worth $454,000 after buying an additional 97 shares in the last quarter. Finally, Hardy Reed LLC increased its position in shares of Prudential Financial by 1.6% during the third quarter. Hardy Reed LLC now owns 6,202 shares of the financial services provider's stock valued at $751,000 after acquiring an additional 98 shares in the last quarter. Institutional investors and hedge funds own 56.83% of the company's stock.

Prudential Financial Trading Up 1.7 %

NYSE:PRU traded up $1.94 during mid-day trading on Monday, hitting $116.47. 1,239,973 shares of the stock traded hands, compared to its average volume of 1,316,696. The stock has a market capitalization of $41.46 billion, a price-to-earnings ratio of 10.35, a PEG ratio of 0.87 and a beta of 1.31. The firm's 50 day moving average is $122.52 and its two-hundred day moving average is $120.67. 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 - Get Free Report) last released its earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share for the quarter, topping the consensus estimate of $3.47 by $0.01. The business had revenue of $19.48 billion during the quarter, compared to the consensus estimate of $14.57 billion. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. During the same period last year, the company earned $3.44 earnings per share. On average, equities research analysts predict that Prudential Financial, Inc. will post 13.35 earnings per share for the current year.

Prudential Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, November 19th were issued a dividend of $1.30 per share. The ex-dividend date was Tuesday, November 19th. This represents a $5.20 annualized dividend and a yield of 4.46%. Prudential Financial's dividend payout ratio (DPR) is 46.22%.

Insider Buying and Selling

In other Prudential Financial 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 price of $27.92 per share, for a total transaction of $14,999,992.08. Following the completion of the purchase, the insider now directly owns 4,780,293 shares in the company, valued at $133,465,780.56. This trade represents a 12.66 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.31% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Barclays raised their price target on shares of Prudential Financial from $119.00 to $129.00 and gave the company an "equal weight" rating in a report on Monday, January 6th. Evercore ISI raised Prudential Financial from an "underperform" rating to an "inline" rating and raised their target price for the stock from $117.00 to $140.00 in a research report on Thursday, November 14th. Jefferies Financial Group boosted their target price on shares of Prudential Financial from $149.00 to $152.00 and gave the company a "buy" rating in a research report on Tuesday, December 10th. Piper Sandler lifted their price target on shares of Prudential Financial from $121.00 to $127.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 2nd. Finally, Bank of America lifted their price objective on Prudential Financial from $109.00 to $118.00 and gave the company a "neutral" rating in a research report on Thursday, October 10th. Eleven investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Prudential Financial currently has an average rating of "Hold" and an average target price of $127.17.

Prudential Financial Company 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.