Prudential Financial, Inc. (NYSE:PRU) – Stock analysts at FBR & Co increased their Q3 2017 earnings per share (EPS) estimates for shares of Prudential Financial in a research report issued to clients and investors on Tuesday. FBR & Co analyst R. Binner now forecasts that the financial services provider will earn $2.68 per share for the quarter, up from their previous forecast of $2.63. FBR & Co has a “Buy” rating and a $100.00 price target on the stock.

Other equities research analysts have also recently issued reports about the company. Keefe, Bruyette & Woods reissued a “buy” rating on shares of Prudential Financial in a report on Friday, August 11th. BidaskClub raised Prudential Financial from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. Zacks Investment Research raised Prudential Financial from a “hold” rating to a “buy” rating and set a $122.00 price target on the stock in a report on Tuesday. Morgan Stanley raised their price target on Prudential Financial from $118.00 to $123.00 and gave the company an “equal weight” rating in a report on Thursday, October 5th. Finally, Wells Fargo & Company reissued a “hold” rating on shares of Prudential Financial in a report on Thursday, August 3rd. Eight equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Prudential Financial currently has an average rating of “Buy” and an average price target of $114.30.

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Prudential Financial (NYSE:PRU) opened at 110.00 on Wednesday. The stock has a market capitalization of $46.97 billion, a PE ratio of 12.28 and a beta of 1.51. Prudential Financial has a 12-month low of $82.45 and a 12-month high of $115.26. The stock has a 50 day moving average price of $104.06 and a 200-day moving average price of $106.62.

Prudential Financial (NYSE:PRU) last announced its earnings results on Wednesday, August 2nd. The financial services provider reported $2.09 earnings per share for the quarter, missing analysts’ consensus estimates of $2.70 by ($0.61). Prudential Financial had a return on equity of 8.98% and a net margin of 7.15%. The business had revenue of $13.03 billion during the quarter, compared to the consensus estimate of $12.45 billion. During the same quarter in the prior year, the company earned $1.84 earnings per share.

The company also recently announced a quarterly dividend, which was paid on Thursday, September 14th. Stockholders of record on Tuesday, August 22nd were issued a $0.75 dividend. The ex-dividend date was Friday, August 18th. This represents a $3.00 annualized dividend and a dividend yield of 2.73%. Prudential Financial’s dividend payout ratio (DPR) 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 value 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 available at the SEC website. Also, insider Nicholas C. Silitch sold 14,897 shares of Prudential Financial stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $110.00, for a total value of $1,638,670.00. Following the completion of 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. Insiders own 0.66% of the company’s stock.

Several hedge funds have recently modified their holdings of PRU. BlackRock Inc. increased its holdings in shares of Prudential Financial by 3,296.9% in the first quarter. BlackRock Inc. now owns 32,220,957 shares of the financial services provider’s stock worth $3,437,330,000 after purchasing an additional 31,272,429 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of Prudential Financial by 1,997.1% in the second quarter. Janus Henderson Group PLC now owns 1,204,160 shares of the financial services provider’s stock worth $130,218,000 after purchasing an additional 1,146,739 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Prudential Financial by 3.3% in the first quarter. Vanguard Group Inc. now owns 30,272,486 shares of the financial services provider’s stock worth $3,229,469,000 after purchasing an additional 968,500 shares during the last quarter. AJO LP increased its holdings in shares of Prudential Financial by 42.8% in the second quarter. AJO LP now owns 2,743,406 shares of the financial services provider’s stock worth $296,672,000 after purchasing an additional 821,881 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of Prudential Financial by 48.8% in the second quarter. Arrowstreet Capital Limited Partnership now owns 2,247,204 shares of the financial services provider’s stock worth $243,013,000 after purchasing an additional 737,458 shares during 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.

Earnings History and Estimates for Prudential Financial (NYSE:PRU)

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