FY2017 EPS Estimates for Prudential Financial Inc Increased by B. Riley (PRU)

Prudential Financial Inc (NYSE:PRU) – Equities researchers at B. Riley lifted their FY2017 EPS estimates for Prudential Financial in a research note issued to investors on Thursday. B. Riley analyst R. Binner now forecasts that the financial services provider will post earnings per share of $10.43 for the year, up from their previous estimate of $10.35. B. Riley currently has a “Buy” rating on the stock. B. Riley also issued estimates for Prudential Financial’s Q4 2017 earnings at $2.54 EPS.

Prudential Financial (NYSE:PRU) last issued its earnings results on Wednesday, November 1st. The financial services provider reported $3.01 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.71 by $0.30. The business had revenue of $13.36 billion for the quarter, compared to analysts’ expectations of $12.24 billion. Prudential Financial had a return on equity of 9.51% and a net margin of 7.71%. During the same period in the previous year, the firm posted $2.66 EPS.

Other equities analysts have also recently issued reports about the company. Keefe, Bruyette & Woods restated a “buy” rating on shares of Prudential Financial in a report on Friday, November 10th. ValuEngine cut Prudential Financial from a “strong-buy” rating to a “buy” rating in a report on Friday, November 10th. Citigroup upgraded Prudential Financial from a “neutral” rating to a “buy” rating and set a $103.00 price target on the stock in a report on Tuesday, October 17th. Zacks Investment Research upgraded 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, October 10th. Finally, FBR & Co upgraded Prudential Financial from a “neutral” rating to a “buy” rating and lowered their price target for the company from $117.00 to $100.00 in a report on Tuesday, October 10th. Nine research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $117.45.

Prudential Financial (NYSE PRU) opened at $116.51 on Friday. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $48,967.76, a price-to-earnings ratio of 11.72, a P/E/G ratio of 1.25 and a beta of 1.55. Prudential Financial has a 1-year low of $97.88 and a 1-year high of $118.17.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PRU. Fieldpoint Private Securities LLC acquired a new stake in shares of Prudential Financial in the second quarter worth about $103,000. Grove Bank & Trust lifted its position in shares of Prudential Financial by 507.0% in the third quarter. Grove Bank & Trust now owns 1,129 shares of the financial services provider’s stock worth $120,000 after buying an additional 943 shares during the last quarter. Legacy Advisors LLC acquired a new stake in shares of Prudential Financial in the third quarter worth about $129,000. Zions Bancorporation lifted its position in shares of Prudential Financial by 44.9% in the third quarter. Zions Bancorporation now owns 1,690 shares of the financial services provider’s stock worth $180,000 after buying an additional 524 shares during the last quarter. Finally, Advisory Services Network LLC lifted its position in shares of Prudential Financial by 128.8% in the second quarter. Advisory Services Network LLC now owns 1,700 shares of the financial services provider’s stock worth $184,000 after buying an additional 957 shares during the last quarter. 64.46% of the stock is owned by hedge funds and other institutional investors.

In related news, insider Nicholas C. Silitch sold 44,860 shares of Prudential Financial stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $111.77, for a total transaction of $5,014,002.20. Following the completion of the sale, the insider now owns 27,927 shares of the company’s stock, valued at $3,121,400.79. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Barbara Koster sold 16,801 shares of Prudential Financial stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $115.17, for a total value of $1,934,971.17. Following the sale, the senior vice president now directly owns 37,327 shares of the company’s stock, valued at approximately $4,298,950.59. The disclosure for this sale can be found here. In the last three months, insiders have sold 116,818 shares of company stock valued at $13,154,122. Insiders own 0.66% of the company’s stock.

Prudential Financial announced that its Board of Directors has authorized a share repurchase program on Thursday, December 14th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 14th. Investors of record on Monday, November 27th were given a dividend of $0.75 per share. The ex-dividend date was Friday, November 24th. This represents a $3.00 dividend on an annualized basis and a yield of 2.57%. Prudential Financial’s payout ratio is 30.18%.

COPYRIGHT VIOLATION WARNING: “FY2017 EPS Estimates for Prudential Financial Inc Increased by B. Riley (PRU)” was published by American Banking News and is the sole property of of American Banking News. If you are accessing this news story on another site, it was copied illegally and republished in violation of United States & international copyright law. The original version of this news story can be viewed at https://www.americanbankingnews.com/2018/01/05/fy2017-eps-estimates-for-prudential-financial-inc-increased-by-b-riley-pru.html.

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.

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

Leave a Reply