Prudential Financial, Inc. (NYSE:PRU) Expected to Earn Q4 2018 Earnings of $2.58 Per Share
Prudential Financial, Inc. (NYSE:PRU) – Equities researchers at Langen Mcalenn boosted their Q4 2018 earnings per share (EPS) estimates for Prudential Financial in a research report issued to clients and investors on Wednesday. Langen Mcalenn analyst L. Greenberg now forecasts that the financial services provider will post earnings per share of $2.58 for the quarter, up from their previous forecast of $2.57.
Several other equities research analysts have also recently commented on the stock. Zacks Investment Research raised shares of Prudential Financial from a “hold” rating to a “buy” rating and set a $117.00 target price for the company in a research report on Tuesday, April 18th. Deutsche Bank AG raised their target price on shares of Prudential Financial from $114.00 to $117.00 and gave the stock a “buy” rating in a research report on Wednesday, April 19th. BidaskClub cut shares of Prudential Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, June 27th. Credit Suisse Group dropped their target price on shares of Prudential Financial from $121.00 to $120.00 and set a “neutral” rating for the company in a research report on Tuesday, May 23rd. Finally, ValuEngine raised shares of Prudential Financial from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 2nd. Nine investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $111.21.
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Shares of Prudential Financial (PRU) opened at 112.49 on Monday. Prudential Financial has a 1-year low of $73.93 and a 1-year high of $114.55. The firm has a 50-day moving average of $109.66 and a 200 day moving average of $107.87. The company has a market capitalization of $48.37 billion, a P/E ratio of 12.32 and a beta of 1.50.
Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $2.09 earnings per share for the quarter, missing the 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 company had revenue of $13.03 billion during the quarter, compared to the consensus estimate of $12.45 billion. During the same period last year, the firm posted $1.84 earnings per share.
In related news, Chairman John R. Strangfeld, Jr. sold 201,585 shares of the stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $110.00, for a total value of $22,174,350.00. Following the completion of the transaction, the chairman now directly owns 456,121 shares in the company, valued at approximately $50,173,310. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.66% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the stock. BKD Wealth Advisors LLC raised 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 worth $430,000 after buying an additional 1,369 shares in the last quarter. Westpac Banking Corp raised 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 worth $5,100,000 after buying an additional 27,536 shares in the last quarter. Financial Counselors Inc. raised 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 worth $7,767,000 after buying an additional 2,365 shares in the last quarter. BLB&B Advisors LLC raised 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 worth $234,000 after buying an additional 150 shares in the last quarter. Finally, Vicus Capital purchased a new stake in Prudential Financial during the first quarter worth $235,000. Institutional investors and hedge funds own 63.51% of the company’s stock.
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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