FY2017 Earnings Estimate for Prudential Financial, Inc. Issued By Langen Mcalenn (PRU)
Prudential Financial, Inc. (NYSE:PRU) – Investment analysts at Langen Mcalenn lifted their FY2017 earnings per share estimates for Prudential Financial in a research report issued on Monday. Langen Mcalenn analyst L. Greenberg now expects that the financial services provider will post earnings per share of $10.20 for the year, up from their prior estimate of $10.15.
Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $2.09 EPS for the quarter, missing the Zacks’ consensus estimate of $2.70 by ($0.61). Prudential Financial had a net margin of 7.15% and a return on equity of 8.98%. The firm had revenue of $13.03 billion during the quarter, compared to the consensus estimate of $12.45 billion. During the same period in the prior year, the business earned $1.84 EPS.
Several other analysts have also weighed in on PRU. BidaskClub lowered Prudential Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $117.00 price objective on shares of Prudential Financial in a research note on Wednesday, September 6th. Zacks Investment Research raised Prudential Financial from a “hold” rating to a “buy” rating and set a $122.00 price objective on the stock in a research note on Tuesday. Wells Fargo & Company reaffirmed a “hold” rating on shares of Prudential Financial in a research note on Thursday, August 3rd. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating on shares of Prudential Financial in a research note on Friday, August 11th. Eight 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 company. The company currently has a consensus rating of “Buy” and an average target price of $114.30.
Prudential Financial (NYSE PRU) opened at 109.11 on Thursday. Prudential Financial has a 52-week low of $82.45 and a 52-week high of $115.26. The stock has a 50 day moving average of $104.74 and a 200-day moving average of $106.69. The company has a market cap of $46.59 billion, a price-to-earnings ratio of 12.18 and a beta of 1.51.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 14th. Stockholders of record on Tuesday, August 22nd were paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date of this dividend was Friday, August 18th. Prudential Financial’s payout ratio is 33.63%.
In other news, insider Stephen Pelletier sold 4,133 shares of Prudential Financial stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $112.18, for a total transaction of $463,639.94. Following the sale, the insider now directly owns 10,924 shares of the company’s stock, valued at $1,225,454.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nicholas C. Silitch sold 14,897 shares of Prudential Financial stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $110.00, for a total value of $1,638,670.00. Following the sale, the insider now directly owns 21,274 shares in the company, valued at $2,340,140. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.
Several hedge funds have recently made changes to their positions in PRU. Fieldpoint Private Securities LLC acquired a new stake in shares of Prudential Financial during the second quarter valued at about $103,000. Hudock Capital Group LLC boosted its stake in shares of Prudential Financial by 0.7% during the second quarter. Hudock Capital Group LLC now owns 1,144 shares of the financial services provider’s stock valued at $123,000 after purchasing an additional 8 shares in the last quarter. Guardian Life Insurance Co. of America boosted its stake in shares of Prudential Financial by 0.3% during the first quarter. Guardian Life Insurance Co. of America now owns 1,658 shares of the financial services provider’s stock valued at $177,000 after purchasing an additional 5 shares in the last quarter. Accurate Investment Solutions Inc. boosted its stake in shares of Prudential Financial by 2.3% during the second quarter. Accurate Investment Solutions Inc. now owns 1,664 shares of the financial services provider’s stock valued at $180,000 after purchasing an additional 38 shares in the last quarter. Finally, Advisory Services Network LLC boosted its stake in shares of Prudential Financial by 128.8% during the second quarter. Advisory Services Network LLC now owns 1,700 shares of the financial services provider’s stock valued at $184,000 after purchasing an additional 957 shares in the last quarter. 64.45% of the stock is currently owned by hedge funds and other institutional investors.
Prudential Financial Company Profile
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.
Receive News & Stock Ratings for Prudential Financial Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prudential Financial Inc. and related stocks with our FREE daily email newsletter.