Prudential Financial, Inc. (NYSE:PRU) – Investment analysts at Langen Mcalenn increased their Q3 2017 earnings per share estimates for Prudential Financial in a report released on Monday. Langen Mcalenn analyst L. Greenberg now expects that the financial services provider will earn $2.71 per share for the quarter, up from their previous estimate of $2.64. Langen Mcalenn also issued estimates for Prudential Financial’s Q4 2017 earnings at $2.50 EPS, Q1 2018 earnings at $2.86 EPS, Q2 2018 earnings at $2.81 EPS and FY2018 earnings at $11.10 EPS.
Several other research analysts have also commented on PRU. Zacks Investment Research upgraded Prudential Financial from a “hold” rating to a “buy” rating and set a $117.00 price target for the company in a research report on Tuesday, April 18th. Deutsche Bank AG lifted their price target on Prudential Financial from $114.00 to $117.00 and gave the stock a “buy” rating in a research report on Wednesday, April 19th. Credit Suisse Group reiterated a “hold” rating and issued a $121.00 price target on shares of Prudential Financial in a research report on Thursday, April 27th. Wells Fargo & Company reiterated a “hold” rating on shares of Prudential Financial in a research report on Thursday, May 4th. Finally, ValuEngine upgraded Prudential Financial from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 2nd. Nine research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $111.21.
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Prudential Financial (NYSE PRU) opened at 111.48 on Tuesday. The stock has a market capitalization of $47.94 billion, a PE ratio of 12.20 and a beta of 1.50. Prudential Financial has a 12-month low of $74.85 and a 12-month high of $115.26. The stock has a 50 day moving average price of $110.05 and a 200-day moving average price of $107.97.
Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $2.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.70 by $0.61. Prudential Financial had a return on equity of 8.98% and a net margin of 7.15%. The firm had revenue of $13.03 billion during the quarter, compared to analysts’ expectations of $12.45 billion. During the same quarter in the previous year, the company posted $1.84 earnings per share.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 14th. Stockholders of record on Tuesday, August 22nd will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 2.69%. Prudential Financial’s dividend payout ratio is presently 33.63%.
In other news, Chairman John R. Strangfeld, Jr. sold 201,585 shares of Prudential Financial stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $110.00, for a total transaction of $22,174,350.00. Following the completion of the sale, the chairman now owns 456,121 shares of the company’s stock, valued at $50,173,310. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.66% of the company’s stock.
Several hedge funds have recently bought and sold shares of the stock. BKD Wealth Advisors LLC increased its stake in Prudential Financial by 51.4% in the first quarter. BKD Wealth Advisors LLC now owns 4,030 shares of the financial services provider’s stock valued at $430,000 after buying an additional 1,369 shares in the last quarter. Westpac Banking Corp increased its stake in Prudential Financial by 103.7% in the first quarter. Westpac Banking Corp now owns 54,100 shares of the financial services provider’s stock valued at $5,100,000 after buying an additional 27,536 shares in the last quarter. Financial Counselors Inc. increased its stake in Prudential Financial by 3.4% in the first quarter. Financial Counselors Inc. now owns 72,807 shares of the financial services provider’s stock valued at $7,767,000 after buying an additional 2,365 shares in the last quarter. BLB&B Advisors LLC increased its stake in Prudential Financial by 7.3% in the first quarter. BLB&B Advisors LLC now owns 2,192 shares of the financial services provider’s stock valued at $234,000 after buying an additional 150 shares in the last quarter. Finally, Vicus Capital bought a new stake in Prudential Financial during the first quarter valued at $235,000. 63.51% of the stock is owned by hedge funds and other institutional investors.
About Prudential Financial
Prudential Financial, Inc, is a financial services company. The Company, through its subsidiaries, offers a range of financial products and services, which includes life insurance, annuities, retirement-related services, mutual funds and investment management. The Company’s operations consists of four divisions, which together encompass seven segments.
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