NewSquare Capital LLC Has $7.85 Million Stake in Prudential Financial, Inc. (NYSE:PRU)

NewSquare Capital LLC grew its stake in Prudential Financial, Inc. (NYSE:PRU) by 2.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 76,691 shares of the financial services provider’s stock after purchasing an additional 1,551 shares during the period. NewSquare Capital LLC’s holdings in Prudential Financial were worth $7,854,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. First Financial Corp IN grew its position in Prudential Financial by 13.7% in the 4th quarter. First Financial Corp IN now owns 848 shares of the financial services provider’s stock worth $88,000 after purchasing an additional 102 shares during the last quarter. Cambridge Trust Co. raised its stake in shares of Prudential Financial by 77.2% in the fourth quarter. Cambridge Trust Co. now owns 241 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 105 shares during the last quarter. Patron Partners LLC raised its stake in shares of Prudential Financial by 2.4% in the third quarter. Patron Partners LLC now owns 5,086 shares of the financial services provider’s stock worth $483,000 after acquiring an additional 119 shares during the last quarter. Janiczek Wealth Management LLC grew its position in shares of Prudential Financial by 49.6% during the 4th quarter. Janiczek Wealth Management LLC now owns 374 shares of the financial services provider’s stock worth $39,000 after buying an additional 124 shares during the period. Finally, Knights of Columbus Asset Advisors LLC grew its position in shares of Prudential Financial by 0.3% during the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 50,718 shares of the financial services provider’s stock worth $4,813,000 after buying an additional 128 shares during the period. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Prudential Financial Stock Up 0.5 %

Shares of PRU stock traded up $0.58 during trading on Tuesday, reaching $112.05. The company’s stock had a trading volume of 1,367,823 shares, compared to its average volume of 1,519,587. The business has a fifty day moving average price of $111.38 and a 200-day moving average price of $103.36. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.65. The company has a market cap of $40.23 billion, a price-to-earnings ratio of 16.66, a price-to-earnings-growth ratio of 0.75 and a beta of 1.37. Prudential Financial, Inc. has a one year low of $77.22 and a one year high of $118.69.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Tuesday, February 6th. The financial services provider reported $2.58 EPS for the quarter, missing analysts’ consensus estimates of $2.67 by ($0.09). The business had revenue of $13.02 billion during the quarter, compared to the consensus estimate of $12.99 billion. Prudential Financial had a return on equity of 14.52% and a net margin of 4.89%. The business’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.42 EPS. Analysts anticipate that Prudential Financial, Inc. will post 13.38 earnings per share for the current year.

Prudential Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Tuesday, February 20th were given a dividend of $1.30 per share. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.25. This represents a $5.20 annualized dividend and a yield of 4.64%. The ex-dividend date was Friday, February 16th. Prudential Financial’s dividend payout ratio is 77.73%.

Insiders Place Their Bets

In other Prudential Financial news, SVP Timothy L. Schmidt sold 7,912 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $108.13, for a total transaction of $855,524.56. Following the sale, the senior vice president now directly owns 14,754 shares of the company’s stock, valued at $1,595,350.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Prudential Financial news, EVP Ann M. Kappler sold 7,222 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $108.39, for a total value of $782,792.58. Following the transaction, the executive vice president now directly owns 24,381 shares in the company, valued at $2,642,656.59. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Timothy L. Schmidt sold 7,912 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $108.13, for a total transaction of $855,524.56. Following the completion of the transaction, the senior vice president now owns 14,754 shares in the company, valued at $1,595,350.02. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,255 shares of company stock valued at $3,215,664. 0.34% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

PRU has been the subject of several analyst reports. Piper Sandler lifted their price target on shares of Prudential Financial from $114.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday, April 5th. Wells Fargo & Company boosted their price objective on shares of Prudential Financial from $100.00 to $106.00 and gave the company an “underweight” rating in a report on Thursday, April 11th. Evercore ISI boosted their price objective on shares of Prudential Financial from $104.00 to $115.00 and gave the company an “underperform” rating in a report on Thursday, April 11th. JPMorgan Chase & Co. restated a “neutral” rating and set a $118.00 price objective (down previously from $119.00) on shares of Prudential Financial in a report on Wednesday, January 3rd. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Prudential Financial from $112.00 to $118.00 and gave the company a “market perform” rating in a report on Wednesday, April 10th. Two analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the stock. According to MarketBeat.com, Prudential Financial has a consensus rating of “Hold” and an average target price of $111.33.

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.