Jefferies Financial Group Brokers Raise Earnings Estimates for Prudential Financial, Inc. (NYSE:PRU)

Prudential Financial, Inc. (NYSE:PRUGet Rating) – Stock analysts at Jefferies Financial Group boosted their FY2022 earnings estimates for shares of Prudential Financial in a research note issued on Monday, November 21st. Jefferies Financial Group analyst S. Kamath now anticipates that the financial services provider will earn $9.80 per share for the year, up from their prior forecast of $9.05. Jefferies Financial Group has a “Underperform” rating and a $79.00 price target on the stock. The consensus estimate for Prudential Financial’s current full-year earnings is $9.61 per share. Jefferies Financial Group also issued estimates for Prudential Financial’s Q4 2022 earnings at $2.76 EPS, Q1 2023 earnings at $2.94 EPS, Q2 2023 earnings at $2.98 EPS, Q3 2023 earnings at $3.02 EPS, Q4 2023 earnings at $2.85 EPS, FY2023 earnings at $11.80 EPS, FY2024 earnings at $12.35 EPS, FY2025 earnings at $13.05 EPS and FY2026 earnings at $13.80 EPS.

Other equities analysts have also issued reports about the stock. Wells Fargo & Company reduced their target price on shares of Prudential Financial from $101.00 to $91.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 12th. Citigroup raised their target price on shares of Prudential Financial from $98.00 to $105.00 in a research report on Wednesday, November 16th. Raymond James lowered shares of Prudential Financial from a “strong-buy” rating to a “market perform” rating in a research report on Wednesday. Barclays reduced their target price on shares of Prudential Financial from $95.00 to $94.00 and set an “equal weight” rating on the stock in a research report on Friday, October 14th. Finally, Evercore ISI reduced their target price on shares of Prudential Financial to $90.00 in a research report on Tuesday, August 9th. Two equities research analysts have rated the stock with a sell rating and twelve have issued a hold rating to the company. According to MarketBeat.com, Prudential Financial currently has a consensus rating of “Hold” and a consensus price target of $103.54.

Prudential Financial Stock Performance

Prudential Financial stock opened at $107.06 on Thursday. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.07 and a quick ratio of 0.07. Prudential Financial has a 1-year low of $85.46 and a 1-year high of $124.22. The firm has a market capitalization of $39.83 billion, a P/E ratio of 148.69 and a beta of 1.43. The company’s 50-day moving average is $98.10 and its 200 day moving average is $98.46.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Total Clarity Wealth Management Inc. purchased a new position in Prudential Financial in the second quarter valued at $25,000. Nvwm LLC purchased a new position in Prudential Financial in the first quarter valued at $26,000. Wagner Wealth Management LLC purchased a new position in Prudential Financial in the second quarter valued at $26,000. San Luis Wealth Advisors LLC purchased a new position in Prudential Financial in the first quarter valued at $31,000. Finally, Pacific Center for Financial Services purchased a new position in Prudential Financial in the second quarter valued at $31,000. Hedge funds and other institutional investors own 57.74% of the company’s stock.

Insider Transactions at Prudential Financial

In related news, major shareholder Prudential Financial Inc acquired 285,715 shares of the stock in a transaction dated Thursday, November 17th. The stock was acquired at an average cost of $35.00 per share, for a total transaction of $10,000,025.00. Following the completion of the purchase, the insider now owns 285,715 shares of the company’s stock, valued at approximately $10,000,025. The purchase was disclosed in a document filed with the SEC, which is available through this link. In other Prudential Financial news, major shareholder Prudential Financial Inc bought 285,715 shares of Prudential Financial stock in a transaction that occurred on Thursday, November 17th. The stock was purchased at an average price of $35.00 per share, with a total value of $10,000,025.00. Following the completion of the acquisition, the insider now directly owns 285,715 shares in the company, valued at approximately $10,000,025. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ann M. Kappler sold 3,609 shares of the firm’s stock in a transaction on Tuesday, November 22nd. The stock was sold at an average price of $108.62, for a total transaction of $392,009.58. Following the transaction, the executive vice president now directly owns 9,779 shares of the company’s stock, valued at approximately $1,062,194.98. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Prudential Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Tuesday, November 22nd will be paid a dividend of $1.20 per share. The ex-dividend date is Monday, November 21st. This represents a $4.80 annualized dividend and a dividend yield of 4.48%. Prudential Financial’s payout ratio is currently 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.

Further Reading

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

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