Equities Analysts Offer Predictions for Prudential Financial, Inc.’s Q1 2023 Earnings (NYSE:PRU)

Prudential Financial, Inc. (NYSE:PRUGet Rating) – Investment analysts at Jefferies Financial Group boosted their Q1 2023 EPS estimates for Prudential Financial in a report issued on Tuesday, January 17th. Jefferies Financial Group analyst S. Kamath now anticipates that the financial services provider will earn $2.98 per share for the quarter, up from their previous estimate of $2.94. The consensus estimate for Prudential Financial’s current full-year earnings is $10.31 per share. Jefferies Financial Group also issued estimates for Prudential Financial’s Q2 2023 earnings at $3.01 EPS, Q3 2023 earnings at $3.05 EPS, FY2023 earnings at $11.90 EPS, Q1 2024 earnings at $3.09 EPS, Q2 2024 earnings at $3.13 EPS, Q3 2024 earnings at $3.18 EPS and FY2024 earnings at $12.40 EPS.

PRU has been the topic of a number of other research reports. JPMorgan Chase & Co. lowered their price target on Prudential Financial from $122.00 to $118.00 and set a “neutral” rating on the stock in a research report on Friday, October 7th. Raymond James cut Prudential Financial from a “strong-buy” rating to a “market perform” rating in a report on Wednesday, November 23rd. Royal Bank of Canada upped their target price on Prudential Financial from $102.00 to $110.00 and gave the stock a “sector perform” rating in a research note on Thursday, November 3rd. Citigroup lifted their price target on shares of Prudential Financial from $98.00 to $105.00 in a research note on Wednesday, November 16th. Finally, The Goldman Sachs Group cut shares of Prudential Financial from a “neutral” rating to a “sell” rating and cut their price objective for the company from $98.00 to $96.00 in a research note on Monday, January 9th. Four equities research analysts have rated the stock with a sell rating and ten have assigned a hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $105.23.

Prudential Financial Price Performance

Shares of NYSE:PRU opened at $96.94 on Thursday. Prudential Financial has a one year low of $85.46 and a one year high of $124.22. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.07 and a quick ratio of 0.07. The firm has a market capitalization of $36.06 billion, a price-to-earnings ratio of 134.64 and a beta of 1.41. The company’s fifty day moving average price is $102.55 and its 200-day moving average price is $98.88.

Prudential Financial (NYSE:PRUGet Rating) last announced its earnings results on Tuesday, November 1st. The financial services provider reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.21 by ($0.08). Prudential Financial had a net margin of 0.52% and a return on equity of 10.20%. The company had revenue of $21.61 billion during the quarter, compared to analysts’ expectations of $12.76 billion.

Hedge Funds Weigh In On Prudential Financial

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Octavia Wealth Advisors LLC raised its stake in Prudential Financial by 1.8% during the fourth quarter. Octavia Wealth Advisors LLC now owns 14,719 shares of the financial services provider’s stock valued at $1,464,000 after buying an additional 255 shares during the last quarter. Quent Capital LLC raised its position in shares of Prudential Financial by 6.3% in the 4th quarter. Quent Capital LLC now owns 2,690 shares of the financial services provider’s stock worth $268,000 after purchasing an additional 159 shares during the last quarter. Pendal Group Ltd bought a new position in Prudential Financial in the 4th quarter worth about $283,000. Ellsworth Advisors LLC grew its position in Prudential Financial by 2.9% during the 4th quarter. Ellsworth Advisors LLC now owns 37,132 shares of the financial services provider’s stock valued at $3,660,000 after purchasing an additional 1,064 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC bought a new stake in Prudential Financial during the 4th quarter valued at about $97,000. Institutional investors own 56.33% of the company’s stock.

Insider Activity at Prudential Financial

In other Prudential Financial news, SVP Timothy L. Schmidt sold 2,000 shares of the company’s stock in a transaction on Wednesday, December 14th. The shares were sold at an average price of $103.55, for a total value of $207,100.00. Following the completion of the transaction, the senior vice president now directly owns 16,198 shares in the company, valued at approximately $1,677,302.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Timothy L. Schmidt sold 2,000 shares of the stock in a transaction that occurred on Wednesday, December 14th. The stock was sold at an average price of $103.55, for a total value of $207,100.00. Following the completion of the transaction, the senior vice president now owns 16,198 shares of the company’s stock, valued at approximately $1,677,302.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Ann M. Kappler sold 3,609 shares of the company’s stock in a transaction on Tuesday, November 22nd. The stock was sold at an average price of $108.62, for a total value of $392,009.58. Following the completion of the sale, the executive vice president now directly owns 9,779 shares in the company, valued at $1,062,194.98. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by company insiders.

Prudential Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 15th. Investors of record on Tuesday, November 22nd were paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 4.95%. The ex-dividend date of this dividend was Monday, November 21st. Prudential Financial’s payout ratio is 666.67%.

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 and Estimates for Prudential Financial (NYSE:PRU)

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