Prudential Financial, Inc. (NYSE:PRU) to Post FY2022 Earnings of $11.50 Per Share, Jefferies Financial Group Forecasts

Prudential Financial, Inc. (NYSE:PRUGet Rating) – Jefferies Financial Group raised their FY2022 earnings per share estimates for Prudential Financial in a report issued on Sunday, June 5th. Jefferies Financial Group analyst S. Kamath now anticipates that the financial services provider will earn $11.50 per share for the year, up from their previous forecast of $11.30.

Prudential Financial (NYSE:PRUGet Rating) last posted its earnings results on Tuesday, May 3rd. The financial services provider reported $3.17 earnings per share for the quarter, beating the consensus estimate of $2.67 by $0.50. The firm had revenue of $13.66 billion during the quarter, compared to analyst estimates 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 EPS.

Other research analysts have also issued reports about the stock. Credit Suisse Group lowered shares of Prudential Financial from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $131.00 to $121.00 in a research report on Friday, March 25th. StockNews.com began coverage on Prudential Financial in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Morgan Stanley increased their price objective on shares of Prudential Financial from $114.00 to $123.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 22nd. Piper Sandler dropped their target price on Prudential Financial from $118.00 to $110.00 and set a “neutral” rating on the stock in a report on Friday, May 27th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Prudential Financial from $113.00 to $120.00 in a report on Tuesday, April 5th. 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. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $111.21.

Shares of PRU stock opened at $106.21 on Wednesday. The stock has a market capitalization of $39.83 billion, a PE ratio of 8.61, a P/E/G ratio of 1.00 and a beta of 1.49. The firm has a 50 day moving average of $109.77 and a two-hundred day moving average of $110.76. Prudential Financial has a 52 week low of $94.51 and a 52 week 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 0.44.

Several hedge funds have recently added to or reduced their stakes in the stock. Equitec Proprietary Markets LLC bought a new stake in shares of Prudential Financial in the fourth quarter worth approximately $25,000. Nvwm LLC purchased a new stake in Prudential Financial during the first quarter valued at $26,000. Rather & Kittrell Inc. purchased a new stake in Prudential Financial during the fourth quarter valued at $27,000. FSB Premier Wealth Management Inc. bought a new position in Prudential Financial during the fourth quarter valued at $29,000. Finally, Jones Financial Companies Lllp bought a new position in shares of Prudential Financial in the first quarter worth about $30,000. 56.77% of the stock is currently owned by institutional investors.

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 16th. Stockholders of record on Tuesday, May 24th will be issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 4.52%. The ex-dividend date is Monday, May 23rd. Prudential Financial’s payout ratio is 38.93%.

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.

See Also

Earnings History and Estimates for Prudential Financial (NYSE:PRU)

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