$2.79 EPS Expected for Prudential Financial, Inc. (NYSE:PRU) This Quarter

Wall Street analysts predict that Prudential Financial, Inc. (NYSE:PRUGet Rating) will post earnings per share of $2.79 for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Prudential Financial’s earnings, with estimates ranging from $2.62 to $2.90. Prudential Financial reported earnings of $3.79 per share in the same quarter last year, which would suggest a negative year over year growth rate of 26.4%. The company is expected to report its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Prudential Financial will report full-year earnings of $11.70 per share for the current year, with EPS estimates ranging from $11.30 to $12.06. For the next fiscal year, analysts expect that the firm will post earnings of $13.00 per share, with EPS estimates ranging from $12.50 to $13.64. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for Prudential Financial.

Prudential Financial (NYSE:PRUGet Rating) last announced its earnings results on Tuesday, May 3rd. The financial services provider reported $3.17 earnings per share for the quarter, beating analysts’ consensus estimates of $2.67 by $0.50. Prudential Financial had a net margin of 8.09% and a return on equity of 9.35%. The business had revenue of $13.66 billion during the quarter, compared to the consensus estimate of $13.93 billion. During the same quarter last year, the firm earned $4.11 earnings per share.

Several brokerages have recently weighed in on PRU. Citigroup started coverage on Prudential Financial in a report on Monday, May 23rd. They set a “neutral” rating and a $100.00 price target for the company. StockNews.com assumed coverage on shares of Prudential Financial in a research note on Thursday, March 31st. They set a “hold” rating for the company. Morgan Stanley upped their target price 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. JPMorgan Chase & Co. raised their price target on shares of Prudential Financial from $113.00 to $120.00 in a research report on Tuesday, April 5th. Finally, Piper Sandler lowered their price target on Prudential Financial from $118.00 to $110.00 and set a “neutral” rating on the stock in a report on Friday. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $112.36.

PRU stock opened at $106.27 on Friday. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.44. The business has a 50 day moving average of $111.65 and a 200 day moving average of $110.96. Prudential Financial has a twelve month low of $94.51 and a twelve month high of $124.22. The firm has a market cap of $39.85 billion, a PE ratio of 8.62, a price-to-earnings-growth ratio of 0.95 and a beta of 1.48.

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

In related news, EVP Andrew F. Sullivan sold 2,231 shares of the business’s stock in a transaction that occurred 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Nicholas C. Silitch sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 3rd. The stock was sold at an average price of $109.74, for a total transaction of $219,480.00. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. Kestra Private Wealth Services LLC boosted its stake in shares of Prudential Financial by 5.2% in the first quarter. Kestra Private Wealth Services LLC now owns 4,026 shares of the financial services provider’s stock worth $476,000 after acquiring an additional 199 shares during the period. Fortitude Advisory Group L.L.C. grew its holdings in Prudential Financial by 12.9% during the 1st quarter. Fortitude Advisory Group L.L.C. now owns 980 shares of the financial services provider’s stock valued at $116,000 after buying an additional 112 shares in the last quarter. M Holdings Securities Inc. bought a new stake in shares of Prudential Financial during the first quarter valued at approximately $2,363,000. Advisory Services Network LLC lifted its holdings in shares of Prudential Financial by 29.4% in the first quarter. Advisory Services Network LLC now owns 38,550 shares of the financial services provider’s stock worth $4,555,000 after buying an additional 8,748 shares in the last quarter. Finally, Neuberger Berman Group LLC boosted its position in shares of Prudential Financial by 30.8% during the first quarter. Neuberger Berman Group LLC now owns 90,808 shares of the financial services provider’s stock worth $10,754,000 after acquiring an additional 21,386 shares during the last quarter. Institutional investors and hedge funds own 56.77% of the company’s stock.

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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