Prudential Financial (NYSE:PRU) Issues Earnings Results, Beats Estimates By $1.36 EPS


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Prudential Financial (NYSE:PRU) released its earnings results on Tuesday. The financial services provider reported $4.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.75 by $1.36, MarketWatch Earnings reports. Prudential Financial had a negative net margin of 0.12% and a positive return on equity of 6.06%. During the same quarter last year, the firm posted $2.32 EPS.

PRU traded up $0.23 during midday trading on Tuesday, reaching $101.67. 1,995,468 shares of the company’s stock traded hands, compared to its average volume of 2,347,939. The firm has a fifty day moving average of $95.02 and a two-hundred day moving average of $82.62. The stock has a market capitalization of $40.20 billion, a price-to-earnings ratio of -282.42, a P/E/G ratio of 1.72 and a beta of 1.72. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.12 and a quick ratio of 0.12. Prudential Financial has a 52 week low of $48.52 and a 52 week high of $102.39.

The business also recently announced a quarterly dividend, which was paid on Thursday, March 11th. Stockholders of record on Tuesday, February 16th were paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 4.52%. The ex-dividend date of this dividend was Friday, February 12th. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.10. Prudential Financial’s payout ratio is 39.35%.

A number of analysts have recently issued reports on PRU shares. Morgan Stanley increased their price target on shares of Prudential Financial from $90.00 to $99.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 1st. Zacks Investment Research upgraded Prudential Financial from a “sell” rating to a “hold” rating and set a $94.00 target price for the company in a research report on Thursday, February 25th. Citigroup raised their price objective on Prudential Financial from $83.00 to $97.00 in a research report on Wednesday, March 31st. TheStreet cut Prudential Financial from a “b-” rating to a “c” rating in a research note on Thursday, February 4th. Finally, Credit Suisse Group raised Prudential Financial from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $79.00 to $121.00 in a research note on Thursday, April 15th. Ten analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Prudential Financial presently has an average rating of “Hold” and a consensus price target of $91.36.

In other Prudential Financial news, CFO Kenneth Tanji sold 29,285 shares of the company’s stock in a transaction that occurred on Monday, March 22nd. The stock was sold at an average price of $90.94, for a total transaction of $2,663,177.90. Following the transaction, the chief financial officer now owns 36,477 shares in the company, valued at approximately $3,317,218.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Timothy L. Schmidt sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, March 8th. The stock was sold at an average price of $94.11, for a total value of $470,550.00. The disclosure for this sale can be found here. Insiders have sold a total of 42,485 shares of company stock valued at $3,876,812 in the last ninety days. 0.33% of the stock is currently owned by corporate insiders.

About Prudential Financial

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 for Prudential Financial (NYSE:PRU)

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