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.
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%.
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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