Prudential Financial (NYSE:PRU) issued its quarterly earnings results on Wednesday. The financial services provider reported $2.69 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.64 by $0.05, reports. The firm had revenue of $15.25 billion for the quarter, compared to analyst estimates of $12.87 billion. Prudential Financial had a net margin of 7.71% and a return on equity of 9.51%. During the same period last year, the company posted $2.46 EPS.

Prudential Financial (NYSE:PRU) traded down $6.64 on Thursday, reaching $104.53. 3,550,920 shares of the company’s stock were exchanged, compared to its average volume of 2,110,193. The stock has a market cap of $46,390.00, a price-to-earnings ratio of 10.67, a price-to-earnings-growth ratio of 1.13 and a beta of 1.49. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.13 and a quick ratio of 0.13. Prudential Financial has a twelve month low of $97.88 and a twelve month high of $127.14.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Wednesday, February 21st will be paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 3.44%. This is a positive change from Prudential Financial’s previous quarterly dividend of $0.75. Prudential Financial’s dividend payout ratio (DPR) is 30.24%.

Prudential Financial declared that its board has authorized a share buyback program on Thursday, December 14th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the financial services provider to purchase shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

In other news, EVP Timothy P. Harris sold 10,527 shares of the firm’s stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $115.00, for a total transaction of $1,210,605.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Barbara Koster sold 16,801 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $115.17, for a total transaction of $1,934,971.17. Following the sale, the senior vice president now owns 37,327 shares of the company’s stock, valued at approximately $4,298,950.59. The disclosure for this sale can be found here. 0.66% of the stock is owned by company insiders.

PRU has been the topic of a number of research reports. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $121.00 price target on shares of Prudential Financial in a research note on Monday, October 16th. Citigroup raised shares of Prudential Financial from a “neutral” rating to a “buy” rating and set a $103.00 target price on the stock in a research note on Tuesday, October 17th. Goldman Sachs Group began coverage on shares of Prudential Financial in a research note on Wednesday, October 18th. They issued a “neutral” rating and a $114.00 target price on the stock. Morgan Stanley raised their target price on shares of Prudential Financial from $123.00 to $124.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 2nd. Finally, Royal Bank of Canada reissued a “hold” rating and issued a $119.00 target price on shares of Prudential Financial in a research note on Friday, November 3rd. Seven research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Prudential Financial presently has an average rating of “Buy” and an average price target of $119.85.

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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.

Earnings History for Prudential Financial (NYSE:PRU)

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