Prudential Financial (NYSE:PRU) Posts Earnings Results, Beats Expectations By $0.01 EPS

Prudential Financial (NYSE:PRU) posted its earnings results on Wednesday. The financial services provider reported $3.48 earnings per share for the quarter, beating the consensus estimate of $3.47 by $0.01, Briefing.com reports. The firm had revenue of $19.48 billion during the quarter, compared to analyst estimates of $14.57 billion. Prudential Financial had a net margin of 6.03% and a return on equity of 15.66%. During the same period in the previous year, the firm earned $3.44 EPS.

Prudential Financial Price Performance

PRU stock traded down $1.20 during mid-day trading on Friday, reaching $121.28. The company’s stock had a trading volume of 1,965,517 shares, compared to its average volume of 1,482,911. The stock has a market cap of $43.30 billion, a PE ratio of 10.78, a P/E/G ratio of 0.97 and a beta of 1.30. The company’s 50 day moving average is $121.10 and its two-hundred day moving average is $118.25. Prudential Financial has a fifty-two week low of $89.90 and a fifty-two week high of $128.52. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.65.

Prudential Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Tuesday, August 20th were paid a dividend of $1.30 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $5.20 annualized dividend and a yield of 4.29%. Prudential Financial’s dividend payout ratio is presently 46.22%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PRU. Citigroup upped their price objective on shares of Prudential Financial from $104.00 to $120.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 23rd. Barclays raised their price objective on Prudential Financial from $118.00 to $119.00 and gave the company an “equal weight” rating in a report on Friday. Argus raised Prudential Financial to a “strong-buy” rating in a research note on Thursday, August 8th. Morgan Stanley dropped their price target on shares of Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating on the stock in a research note on Monday, August 19th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and set a $121.00 price objective on shares of Prudential Financial in a research report on Wednesday, August 21st. One analyst has rated the stock with a sell rating, eleven have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $123.77.

Insider Activity

In related news, major shareholder Insurance Co Of Ame Prudential acquired 261,059 shares of Prudential Financial stock in a transaction that occurred on Tuesday, October 8th. The shares were purchased at an average price of $27.58 per share, for a total transaction of $7,200,007.22. Following the completion of the transaction, the insider now owns 4,208,549 shares in the company, valued at $116,071,781.42. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, major shareholder Insurance Co Of Ame Prudential acquired 261,059 shares of the business’s stock in a transaction that occurred on Tuesday, October 8th. The stock was purchased at an average cost of $27.58 per share, for a total transaction of $7,200,007.22. Following the completion of the transaction, the insider now owns 4,208,549 shares in the company, valued at approximately $116,071,781.42. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Caroline Feeney sold 1,110 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total transaction of $133,166.70. Following the completion of the transaction, the executive vice president now owns 10,175 shares in the company, valued at $1,220,694.75. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.

Prudential Financial Company 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.