Prudential Financial Inc (NYSE:PRU) – Stock analysts at Langen Mcalenn issued their Q1 2018 earnings per share (EPS) estimates for Prudential Financial in a research note issued to investors on Wednesday. Langen Mcalenn analyst L. Greenberg anticipates that the financial services provider will post earnings per share of $3.10 for the quarter. Langen Mcalenn also issued estimates for Prudential Financial’s Q2 2018 earnings at $2.98 EPS, Q3 2018 earnings at $3.18 EPS, Q4 2018 earnings at $2.82 EPS, FY2018 earnings at $11.90 EPS, Q1 2019 earnings at $3.26 EPS, Q2 2019 earnings at $3.12 EPS, Q3 2019 earnings at $3.36 EPS and FY2019 earnings at $12.60 EPS.
Several other analysts have also weighed in on the company. Zacks Investment Research raised Prudential Financial from a “hold” rating to a “buy” rating and set a $132.00 price objective on the stock in a research note on Monday, January 8th. Citigroup raised Prudential Financial from a “neutral” rating to a “buy” rating and set a $103.00 price objective on the stock in a research note on Tuesday, October 17th. Wells Fargo & Co set a $122.00 price objective on Prudential Financial and gave the company a “hold” rating in a research note on Thursday, December 14th. Keefe, Bruyette & Woods reaffirmed a “buy” rating on shares of Prudential Financial in a research note on Friday, November 10th. Finally, ValuEngine raised Prudential Financial from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 31st. Seven equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $119.14.
Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Wednesday, February 7th. The financial services provider reported $2.69 earnings per share for the quarter, beating the consensus estimate of $2.64 by $0.05. The business had revenue of $15.25 billion for the quarter, compared to analyst estimates of $12.87 billion. Prudential Financial had a return on equity of 9.29% and a net margin of 13.41%. During the same period last year, the firm posted $2.46 earnings per share.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Wednesday, February 21st will be given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.39%. This is an increase from Prudential Financial’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Tuesday, February 20th. Prudential Financial’s dividend payout ratio (DPR) is 16.80%.
Prudential Financial announced that its Board of Directors has authorized a share buyback program on Thursday, December 14th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.
In other Prudential Financial news, SVP Barbara Koster sold 16,801 shares of Prudential Financial stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $115.17, for a total value of $1,934,971.17. Following the completion of the sale, the senior vice president now directly owns 37,327 shares in the company, valued at $4,298,950.59. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Timothy P. Harris sold 10,527 shares of Prudential Financial stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $115.00, for a total value of $1,210,605.00. The disclosure for this sale can be found here. 0.66% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of the business. APG Asset Management N.V. increased its holdings in Prudential Financial by 171.8% in the third quarter. APG Asset Management N.V. now owns 2,704,719 shares of the financial services provider’s stock worth $287,566,000 after purchasing an additional 1,709,699 shares in the last quarter. Legal & General Group Plc increased its holdings in Prudential Financial by 2.3% in the third quarter. Legal & General Group Plc now owns 2,341,330 shares of the financial services provider’s stock worth $248,931,000 after purchasing an additional 52,597 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Prudential Financial by 1.7% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,994,321 shares of the financial services provider’s stock worth $229,307,000 after purchasing an additional 34,046 shares in the last quarter. Wells Fargo & Company MN increased its holdings in Prudential Financial by 0.9% in the fourth quarter. Wells Fargo & Company MN now owns 1,772,276 shares of the financial services provider’s stock worth $203,776,000 after purchasing an additional 15,896 shares in the last quarter. Finally, UBS Asset Management Americas Inc. increased its holdings in Prudential Financial by 1.7% in the fourth quarter. UBS Asset Management Americas Inc. now owns 1,702,910 shares of the financial services provider’s stock worth $195,801,000 after purchasing an additional 28,314 shares in the last quarter. Institutional investors and hedge funds own 64.35% 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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