Langen Mcalenn Research Analysts Boost Earnings Estimates for Prudential Financial, Inc. (PRU)
Prudential Financial, Inc. (NYSE:PRU) – Equities research analysts at Langen Mcalenn increased their Q3 2017 earnings estimates for Prudential Financial in a research note issued on Monday. Langen Mcalenn analyst L. Greenberg now forecasts that the financial services provider will post earnings per share of $2.71 for the quarter, up from their previous estimate of $2.64. Langen Mcalenn also issued estimates for Prudential Financial’s Q4 2017 earnings at $2.50 EPS, Q1 2018 earnings at $2.86 EPS, Q2 2018 earnings at $2.81 EPS and FY2018 earnings at $11.10 EPS.
Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $2.09 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.70 by $0.61. The company had revenue of $13.03 billion for the quarter, compared to the consensus estimate of $12.45 billion. Prudential Financial had a net margin of 7.15% and a return on equity of 8.98%. During the same quarter last year, the firm posted $1.84 earnings per share.
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Several other research analysts have also recently weighed in on the company. Wells Fargo & Company reiterated a “hold” rating on shares of Prudential Financial in a research report on Thursday, August 3rd. BidaskClub upgraded Prudential Financial from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. Royal Bank Of Canada reiterated a “hold” rating and set a $113.00 price target on shares of Prudential Financial in a research report on Tuesday, June 27th. Zacks Investment Research cut Prudential Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, June 14th. Finally, ValuEngine upgraded 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 issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $111.21.
Prudential Financial (PRU) opened at 111.69 on Tuesday. The company’s 50 day moving average price is $109.66 and its 200-day moving average price is $107.87. The company has a market capitalization of $48.03 billion, a P/E ratio of 12.23 and a beta of 1.50. Prudential Financial has a 52 week low of $73.93 and a 52 week high of $114.55.
Several hedge funds have recently modified their holdings of PRU. Honkamp Krueger Financial Services Inc. raised its stake in shares of Prudential Financial by 15.2% in the first quarter. Honkamp Krueger Financial Services Inc. now owns 3,376 shares of the financial services provider’s stock worth $360,000 after buying an additional 445 shares in the last quarter. Adirondack Trust Co. raised its stake in shares of Prudential Financial by 7.6% in the first quarter. Adirondack Trust Co. now owns 1,133 shares of the financial services provider’s stock worth $121,000 after buying an additional 80 shares in the last quarter. Regentatlantic Capital LLC raised its stake in shares of Prudential Financial by 24.8% in the first quarter. Regentatlantic Capital LLC now owns 94,271 shares of the financial services provider’s stock worth $10,057,000 after buying an additional 18,734 shares in the last quarter. Bank of Montreal Can raised its stake in shares of Prudential Financial by 53.7% in the first quarter. Bank of Montreal Can now owns 784,488 shares of the financial services provider’s stock worth $83,691,000 after buying an additional 274,006 shares in the last quarter. Finally, Univest Corp of Pennsylvania raised its stake in shares of Prudential Financial by 2.4% in the first quarter. Univest Corp of Pennsylvania now owns 3,975 shares of the financial services provider’s stock worth $424,000 after buying an additional 95 shares in the last quarter. 63.51% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Chairman John R. Strangfeld, Jr. sold 201,585 shares of Prudential Financial stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $110.00, for a total value of $22,174,350.00. Following the sale, the chairman now directly owns 456,121 shares of the company’s stock, valued at $50,173,310. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.66% of the stock is currently owned by company insiders.
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.
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