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.

COPYRIGHT VIOLATION WARNING: “Research Analysts Offer Predictions for Prudential Financial, Inc.’s Q3 2017 Earnings (PRU)” was first posted by American Banking News and is the property of of American Banking News. If you are accessing this piece of content on another domain, it was stolen and reposted in violation of United States and international trademark & copyright law. The legal version of this piece of content can be read at https://www.americanbankingnews.com/2017/10/11/research-analysts-offer-predictions-for-prudential-financial-inc-s-q3-2017-earnings-pru.html.

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.

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

Receive News & Ratings for Prudential Financial Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prudential Financial Inc. and related companies with MarketBeat.com's FREE daily email newsletter.