Research Analysts Offer Predictions for Prudential Financial, Inc.’s Q3 2017 Earnings (PRU)
Prudential Financial, Inc. (NYSE:PRU) – Equities researchers at Langen Mcalenn increased their Q3 2017 EPS estimates for Prudential Financial in a report issued on Monday. Langen Mcalenn analyst L. Greenberg now forecasts that the financial services provider will earn $2.72 per share for the quarter, up from their prior estimate of $2.71.
A number of other research firms have also issued reports on PRU. Morgan Stanley increased their price target on shares of Prudential Financial from $118.00 to $123.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 5th. Wells Fargo & Company reissued a “hold” rating on shares of Prudential Financial in a research report on Thursday, August 3rd. BidaskClub raised shares of Prudential Financial from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. Royal Bank Of Canada reissued a “hold” rating and issued a $117.00 price target on shares of Prudential Financial in a research report on Wednesday, September 6th. Finally, Zacks Investment Research raised shares of Prudential Financial from a “hold” rating to a “buy” rating and set a $122.00 price target for the company in a research report on Tuesday. Eight 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 stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $114.30.
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Shares of Prudential Financial (NYSE PRU) opened at 110.00 on Wednesday. The company has a 50-day moving average of $104.06 and a 200-day moving average of $106.62. Prudential Financial has a 12-month low of $82.45 and a 12-month high of $115.26. The stock has a market capitalization of $46.97 billion, a P/E ratio of 12.28 and a beta of 1.51.
Prudential Financial (NYSE:PRU) last released its earnings results on Wednesday, August 2nd. The financial services provider reported $2.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $12.45 billion. During the same quarter in the previous year, the firm posted $1.84 earnings per share.
A number of large investors have recently added to or reduced their stakes in the stock. Eqis Capital Management Inc. acquired a new position in Prudential Financial in the third quarter worth approximately $535,000. Intl Fcstone Inc. acquired a new position in Prudential Financial in the second quarter worth approximately $247,000. Achmea Investment Management B.V. increased its holdings in Prudential Financial by 22.4% in the second quarter. Achmea Investment Management B.V. now owns 69,821 shares of the financial services provider’s stock worth $7,548,000 after buying an additional 12,759 shares during the last quarter. USA Financial Portformulas Corp increased its holdings in Prudential Financial by 10.0% in the second quarter. USA Financial Portformulas Corp now owns 27,895 shares of the financial services provider’s stock worth $3,017,000 after buying an additional 2,547 shares during the last quarter. Finally, Toronto Dominion Bank increased its holdings in Prudential Financial by 24.7% in the second quarter. Toronto Dominion Bank now owns 147,705 shares of the financial services provider’s stock worth $15,971,000 after buying an additional 29,303 shares during the last quarter. Hedge funds and other institutional investors own 64.45% of the company’s stock.
In related news, insider Nicholas C. Silitch sold 14,897 shares of the stock in a transaction that occurred on 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 transaction, the insider now owns 21,274 shares in the company, valued at $2,340,140. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Stephen Pelletier sold 4,133 shares of the stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $112.18, for a total value of $463,639.94. Following the completion of the transaction, the insider now owns 10,924 shares in the company, valued at approximately $1,225,454.32. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 14th. Investors 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 dividend on an annualized basis and a yield of 2.73%. Prudential Financial’s dividend payout ratio is currently 33.63%.
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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