Prudential Financial (NYSE:PRU) Posts Quarterly Earnings Results, Misses Estimates By $0.40 EPS

Prudential Financial (NYSE:PRU) posted its quarterly earnings data on Tuesday. The financial services provider reported $2.96 earnings per share for the quarter, missing the consensus estimate of $3.36 by ($0.40), Zacks reports. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%.

Prudential Financial Price Performance

Shares of PRU opened at $117.91 on Wednesday. The firm has a market cap of $41.97 billion, a PE ratio of 10.48, a PEG ratio of 1.12 and a beta of 1.31. The firm’s 50 day moving average price is $120.38 and its 200 day moving average price is $120.46. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.14 and a current ratio of 0.14. Prudential Financial has a twelve month low of $101.72 and a twelve month high of $130.55.

Insider Activity at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential acquired 537,249 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were purchased at an average price of $27.92 per share, with a total value of $14,999,992.08. Following the completion of the transaction, the insider now owns 4,780,293 shares in the company, valued at $133,465,780.56. The trade was a 12.66 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on PRU shares. Evercore ISI upgraded shares of Prudential Financial from an “underperform” rating to an “inline” rating and raised their price objective for the company from $117.00 to $140.00 in a research report on Thursday, November 14th. BMO Capital Markets initiated coverage on shares of Prudential Financial in a report on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 target price for the company. TD Cowen raised their target price on shares of Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a report on Wednesday, November 27th. Piper Sandler decreased their target price on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Finally, Keefe, Bruyette & Woods decreased their target price on shares of Prudential Financial from $135.00 to $129.00 and set a “market perform” rating for the company in a report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $125.31.

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 PGIM, Retirement Strategies, Group Insurance, Individual Life, and International Businesses segments.