Jefferies Financial Group Analysts Reduce Earnings Estimates for Prudential Financial, Inc. (NYSE:PRU)

Prudential Financial, Inc. (NYSE:PRUGet Rating) – Equities researchers at Jefferies Financial Group dropped their Q2 2022 earnings per share (EPS) estimates for shares of Prudential Financial in a research report issued to clients and investors on Sunday, June 5th. Jefferies Financial Group analyst S. Kamath now expects that the financial services provider will earn $2.80 per share for the quarter, down from their prior forecast of $2.90. Jefferies Financial Group also issued estimates for Prudential Financial’s Q3 2022 earnings at $2.83 EPS, Q4 2022 earnings at $2.69 EPS, Q1 2023 earnings at $3.03 EPS, Q2 2023 earnings at $3.12 EPS, Q3 2023 earnings at $3.14 EPS, Q4 2023 earnings at $3.01 EPS, FY2023 earnings at $12.30 EPS, FY2024 earnings at $13.10 EPS, FY2025 earnings at $13.85 EPS and FY2026 earnings at $14.65 EPS.

Prudential Financial (NYSE:PRUGet Rating) last released its quarterly earnings data on Tuesday, May 3rd. The financial services provider reported $3.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.67 by $0.50. The company had revenue of $13.66 billion during the quarter, compared to the consensus estimate of $13.93 billion. Prudential Financial had a net margin of 8.09% and a return on equity of 9.35%. During the same period in the previous year, the firm earned $4.11 earnings per share.

PRU has been the subject of several other reports. Credit Suisse Group downgraded shares of Prudential Financial from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $131.00 to $121.00 in a research note on Friday, March 25th. StockNews.com began coverage on shares of Prudential Financial in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Piper Sandler decreased their target price on shares of Prudential Financial from $118.00 to $110.00 and set a “neutral” rating for the company in a research note on Friday, May 27th. Morgan Stanley increased their price objective on shares of Prudential Financial from $114.00 to $123.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 22nd. Finally, The Goldman Sachs Group reduced their price objective on shares of Prudential Financial from $116.00 to $99.00 and set a “neutral” rating on the stock in a research note on Monday. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $111.21.

Shares of PRU stock opened at $105.33 on Tuesday. The company has a market capitalization of $39.50 billion, a PE ratio of 8.54, a price-to-earnings-growth ratio of 0.99 and a beta of 1.49. The firm has a fifty day simple moving average of $110.07 and a 200-day simple moving average of $110.79. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.44. Prudential Financial has a twelve month low of $94.51 and a twelve month high of $124.22.

Several hedge funds have recently added to or reduced their stakes in PRU. Norges Bank acquired a new stake in shares of Prudential Financial in the 4th quarter worth about $283,466,000. First Trust Advisors LP increased its holdings in shares of Prudential Financial by 318.2% in the 1st quarter. First Trust Advisors LP now owns 2,375,383 shares of the financial services provider’s stock worth $280,699,000 after acquiring an additional 1,807,375 shares during the period. Cowa LLC increased its holdings in shares of Prudential Financial by 9,930.2% in the 1st quarter. Cowa LLC now owns 771,824 shares of the financial services provider’s stock worth $912,000 after acquiring an additional 764,129 shares during the period. Mariner LLC increased its holdings in shares of Prudential Financial by 2,197.4% in the 1st quarter. Mariner LLC now owns 690,184 shares of the financial services provider’s stock worth $81,560,000 after acquiring an additional 660,142 shares during the period. Finally, Invesco Ltd. increased its holdings in shares of Prudential Financial by 24.1% in the 3rd quarter. Invesco Ltd. now owns 3,081,505 shares of the financial services provider’s stock worth $324,174,000 after acquiring an additional 597,615 shares during the period. 56.77% of the stock is currently owned by institutional investors and hedge funds.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 16th. Shareholders of record on Tuesday, May 24th will be issued a dividend of $1.20 per share. The ex-dividend date is Monday, May 23rd. This represents a $4.80 dividend on an annualized basis and a dividend yield of 4.56%. Prudential Financial’s dividend payout ratio (DPR) is 38.93%.

Prudential Financial Company Profile (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 and Estimates for Prudential Financial (NYSE:PRU)

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