FY2024 EPS Estimates for Prudential Financial, Inc. Reduced by Analyst (NYSE:PRU)

Prudential Financial, Inc. (NYSE:PRU) – Zacks Research cut their FY2024 earnings per share estimates for shares of Prudential Financial in a report issued on Tuesday, May 21st. Zacks Research analyst T. De now forecasts that the financial services provider will post earnings of $13.27 per share for the year, down from their previous forecast of $13.34. The consensus estimate for Prudential Financial’s current full-year earnings is $13.42 per share. Zacks Research also issued estimates for Prudential Financial’s Q4 2024 earnings at $3.29 EPS, Q2 2025 earnings at $3.68 EPS, Q3 2025 earnings at $3.61 EPS and FY2025 earnings at $14.23 EPS.

Other equities research analysts have also recently issued research reports about the company. Jefferies Financial Group raised Prudential Financial from a “hold” rating to a “buy” rating and lifted their price target for the company from $121.00 to $143.00 in a report on Wednesday. Morgan Stanley lifted their target price on shares of Prudential Financial from $109.00 to $117.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Evercore ISI lifted their target price on shares of Prudential Financial from $115.00 to $116.00 and gave the stock an “underperform” rating in a report on Thursday, April 25th. Raymond James downgraded shares of Prudential Financial from a “strong-buy” rating to a “market perform” rating in a report on Friday, February 9th. Finally, UBS Group boosted their price target on shares of Prudential Financial from $108.00 to $112.00 and gave the company a “neutral” rating in a research report on Monday, February 12th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $115.25.

Prudential Financial Stock Up 1.4 %

Shares of Prudential Financial stock opened at $119.49 on Thursday. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.13 and a quick ratio of 0.13. Prudential Financial has a 1-year low of $78.40 and a 1-year high of $121.39. The business has a 50-day moving average of $114.43 and a 200-day moving average of $106.85. The company has a market capitalization of $42.90 billion, a PE ratio of 20.32, a P/E/G ratio of 0.88 and a beta of 1.35.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $3.12 earnings per share for the quarter, missing analysts’ consensus estimates of $3.16 by ($0.04). The business had revenue of $15.01 billion for the quarter, compared to analysts’ expectations of $14.50 billion. Prudential Financial had a return on equity of 15.50% and a net margin of 3.76%. The company’s revenue for the quarter was up 69.9% compared to the same quarter last year. During the same period in the prior year, the company earned $2.66 EPS.

Institutional Trading of Prudential Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Cambridge Trust Co. boosted its position in Prudential Financial by 77.2% during the fourth quarter. Cambridge Trust Co. now owns 241 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 105 shares in the last quarter. Creekmur Asset Management LLC increased its position in shares of Prudential Financial by 78.8% in the first quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider’s stock valued at $29,000 after buying an additional 108 shares in the last quarter. Bruce G. Allen Investments LLC acquired a new stake in shares of Prudential Financial in the fourth quarter worth approximately $26,000. Crewe Advisors LLC acquired a new position in Prudential Financial during the first quarter worth $33,000. Finally, Headinvest LLC acquired a new position in Prudential Financial during the third quarter worth $27,000. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Insider Buying and Selling

In other news, SVP Timothy L. Schmidt sold 7,912 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $108.13, for a total transaction of $855,524.56. Following the sale, the senior vice president now owns 14,754 shares in the company, valued at approximately $1,595,350.02. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Prudential Financial news, SVP Timothy L. Schmidt sold 7,912 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $108.13, for a total value of $855,524.56. Following the completion of the transaction, the senior vice president now owns 14,754 shares of the company’s stock, valued at approximately $1,595,350.02. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Ann M. Kappler sold 7,222 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $108.39, for a total transaction of $782,792.58. Following the sale, the executive vice president now directly owns 24,381 shares of the company’s stock, valued at approximately $2,642,656.59. The disclosure for this sale can be found here. Insiders have sold a total of 164,536 shares of company stock valued at $19,245,606 over the last three months. 0.31% of the stock is owned by company insiders.

Prudential Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Tuesday, May 21st will be paid a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 4.35%. The ex-dividend date of this dividend is Monday, May 20th. Prudential Financial’s payout ratio is 88.44%.

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.