FY2022 EPS Estimates for Prudential Financial, Inc. (NYSE:PRU) Cut by Analyst

Prudential Financial, Inc. (NYSE:PRUGet Rating) – Equities research analysts at Zacks Research reduced their FY2022 earnings per share (EPS) estimates for shares of Prudential Financial in a report issued on Wednesday, November 16th. Zacks Research analyst T. De now forecasts that the financial services provider will post earnings per share of $9.77 for the year, down from their prior forecast of $10.02. The consensus estimate for Prudential Financial’s current full-year earnings is $9.61 per share. Zacks Research also issued estimates for Prudential Financial’s Q1 2023 earnings at $2.72 EPS, Q2 2023 earnings at $2.80 EPS, Q3 2023 earnings at $2.84 EPS, Q4 2023 earnings at $2.66 EPS, FY2023 earnings at $11.02 EPS and Q2 2024 earnings at $2.87 EPS.

Other analysts also recently issued reports about the stock. JPMorgan Chase & Co. reduced their target price on shares of Prudential Financial from $122.00 to $118.00 and set a “neutral” rating on the stock in a research report on Friday, October 7th. Morgan Stanley upped their price objective on shares of Prudential Financial from $111.00 to $112.00 and gave the stock an “equal weight” rating in a report on Thursday. Credit Suisse Group lowered their target price on shares of Prudential Financial to $102.00 in a report on Thursday, September 29th. Barclays cut their price target on Prudential Financial from $95.00 to $94.00 and set an “equal weight” rating on the stock in a research note on Friday, October 14th. Finally, Jefferies Financial Group lifted their price objective on Prudential Financial from $78.00 to $79.00 and gave the company an “underperform” rating in a research note on Thursday, September 8th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Prudential Financial currently has a consensus rating of “Hold” and an average target price of $103.54.

Prudential Financial Price Performance

PRU opened at $107.33 on Monday. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 1.16. The company has a market cap of $39.93 billion, a price-to-earnings ratio of 149.07 and a beta of 1.43. The stock has a fifty day simple moving average of $97.45 and a two-hundred day simple moving average of $98.39. Prudential Financial has a 12-month low of $85.46 and a 12-month high of $124.22.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Fiduciary Group LLC boosted its position in Prudential Financial by 4.1% in the second quarter. Fiduciary Group LLC now owns 2,550 shares of the financial services provider’s stock worth $263,000 after purchasing an additional 100 shares during the last quarter. Kistler Tiffany Companies LLC boosted its holdings in shares of Prudential Financial by 7.3% in the third quarter. Kistler Tiffany Companies LLC now owns 1,481 shares of the financial services provider’s stock worth $127,000 after buying an additional 101 shares during the last quarter. Accurate Wealth Management LLC grew its position in Prudential Financial by 4.8% during the first quarter. Accurate Wealth Management LLC now owns 2,249 shares of the financial services provider’s stock valued at $266,000 after buying an additional 103 shares during the period. Trust Asset Management LLC increased its holdings in Prudential Financial by 2.7% during the second quarter. Trust Asset Management LLC now owns 3,956 shares of the financial services provider’s stock valued at $379,000 after buying an additional 103 shares during the last quarter. Finally, Gilbert & Cook Inc. raised its position in Prudential Financial by 1.3% in the third quarter. Gilbert & Cook Inc. now owns 8,152 shares of the financial services provider’s stock worth $858,000 after acquiring an additional 104 shares during the period. 57.74% of the stock is owned by hedge funds and other institutional investors.

Prudential Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Tuesday, November 22nd will be given a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 4.47%. The ex-dividend date is Monday, November 21st. Prudential Financial’s dividend payout ratio (DPR) is 666.67%.

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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