Prudential Financial, Inc. (PRU) Posts Earnings Results, Beats Expectations By $0.30 EPS
Prudential Financial, Inc. (NYSE:PRU) announced its earnings results on Wednesday. The financial services provider reported $3.01 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.71 by $0.30, Bloomberg Earnings reports. Prudential Financial had a return on equity of 8.98% and a net margin of 7.15%. During the same period last year, the firm earned $2.66 earnings per share.
A number of brokerages have recently weighed in on PRU. Wells Fargo & Company restated a “hold” rating on shares of Prudential Financial in a research note on Thursday, August 3rd. BidaskClub upgraded Prudential Financial from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. Citigroup Inc. upgraded Prudential Financial from a “neutral” rating to a “buy” rating and set a $103.00 price objective for the company in a research report on Tuesday, October 17th. Keefe, Bruyette & Woods restated a “buy” rating and set a $121.00 target price on shares of Prudential Financial in a research report on Monday, October 16th. Finally, FBR & Co upgraded Prudential Financial from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $117.00 to $100.00 in a research report on Tuesday, October 10th. Eight research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $114.56.
In other Prudential Financial news, 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 transaction of $1,638,670.00. Following the completion of the sale, the insider now owns 21,274 shares of the company’s stock, valued at $2,340,140. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 approximately $1,225,454.32. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.
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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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