Prudential Financial (NYSE:PRU) Releases Earnings Results, Beats Estimates By $0.47 EPS

Prudential Financial (NYSE:PRUGet Rating) released its quarterly earnings results on Tuesday. The financial services provider reported $3.17 EPS for the quarter, topping the Zacks’ consensus estimate of $2.70 by $0.47, MarketWatch Earnings reports. Prudential Financial had a return on equity of 9.62% and a net margin of 12.72%. During the same quarter last year, the firm posted $4.11 EPS.

NYSE:PRU opened at $109.73 on Wednesday. Prudential Financial has a 12-month low of $94.51 and a 12-month high of $124.22. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $41.26 billion, a P/E ratio of 5.65, a P/E/G ratio of 1.05 and a beta of 1.48. The stock’s fifty day simple moving average is $113.82 and its 200-day simple moving average is $112.05.

The business also recently declared a quarterly dividend, which was paid on Friday, March 11th. Stockholders of record on Tuesday, February 15th were given a $1.20 dividend. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.15. This represents a $4.80 annualized dividend and a dividend yield of 4.37%. The ex-dividend date of this dividend was Monday, February 14th. Prudential Financial’s dividend payout ratio (DPR) is currently 24.73%.

A number of research firms recently commented on PRU. Credit Suisse Group lowered Prudential Financial from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $131.00 to $121.00 in a research report on Friday, March 25th. JPMorgan Chase & Co. increased their price target on Prudential Financial from $113.00 to $120.00 in a research report on Tuesday, April 5th. Wells Fargo & Company increased their price target on Prudential Financial from $109.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 4th. StockNews.com started coverage on Prudential Financial in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Finally, Wolfe Research started coverage on Prudential Financial in a research report on Friday, January 21st. They issued a “market perform” rating and a $131.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $114.46.

In related news, EVP Andrew F. Sullivan sold 2,231 shares of the firm’s stock in a transaction on Friday, March 4th. The stock was sold at an average price of $106.28, for a total transaction of $237,110.68. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Andrew F. Sullivan sold 18,320 shares of the firm’s stock in a transaction on Tuesday, February 8th. The stock was sold at an average price of $121.47, for a total value of $2,225,330.40. The disclosure for this sale can be found here. Insiders sold a total of 81,975 shares of company stock worth $9,821,709 over the last 90 days. 0.31% of the stock is owned by corporate insiders.

Institutional investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC acquired a new stake in Prudential Financial during the 4th quarter worth $31,000. Samalin Investment Counsel LLC raised its stake in shares of Prudential Financial by 1,672.2% in the 4th quarter. Samalin Investment Counsel LLC now owns 319 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 301 shares during the period. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Prudential Financial in the 4th quarter valued at about $70,000. Penserra Capital Management LLC raised its stake in shares of Prudential Financial by 20.7% in the 4th quarter. Penserra Capital Management LLC now owns 1,728 shares of the financial services provider’s stock valued at $187,000 after purchasing an additional 296 shares during the period. Finally, HB Wealth Management LLC acquired a new stake in shares of Prudential Financial in the 4th quarter valued at about $227,000. 56.77% of the stock is currently owned by institutional investors and hedge funds.

About Prudential Financial (Get Rating)

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 eight segments: PGIM, Retirement, Group Insurance, Individual Annuities, Individual Life, Assurance IQ, International Businesses, and Closed Block.

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Earnings History for Prudential Financial (NYSE:PRU)

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