Prudential Financial Inc (NYSE:PRU) – Stock analysts at B. Riley cut their FY2019 EPS estimates for shares of Prudential Financial in a research note issued to investors on Monday, February 11th. B. Riley analyst R. Binner now anticipates that the financial services provider will earn $12.75 per share for the year, down from their prior estimate of $13.00. B. Riley also issued estimates for Prudential Financial’s FY2020 earnings at $13.85 EPS.
Several other research analysts have also commented on the stock. Morgan Stanley decreased their price objective on shares of Prudential Financial from $122.00 to $120.00 and set an “equal weight” rating for the company in a report on Thursday, November 8th. ValuEngine lowered shares of Prudential Financial from a “sell” rating to a “strong sell” rating in a report on Friday, November 16th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $113.00 price objective on shares of Prudential Financial in a report on Wednesday, January 9th. Zacks Investment Research lowered shares of Prudential Financial from a “hold” rating to a “sell” rating in a report on Monday, January 7th. Finally, Evercore ISI upgraded shares of Prudential Financial from an “in-line” rating to an “outperform” rating and set a $85.50 price objective for the company in a report on Wednesday, January 9th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Prudential Financial currently has an average rating of “Buy” and a consensus price target of $114.19.
Shares of NYSE PRU opened at $91.50 on Tuesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.11 and a quick ratio of 0.11. Prudential Financial has a 12 month low of $75.61 and a 12 month high of $113.03. The firm has a market capitalization of $37.85 billion, a price-to-earnings ratio of 7.83, a P/E/G ratio of 0.79 and a beta of 1.41.
Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Wednesday, February 6th. The financial services provider reported $2.44 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.88 by ($0.44). Prudential Financial had a return on equity of 10.20% and a net margin of 7.01%. The company had revenue of $17.78 billion during the quarter, compared to the consensus estimate of $14.03 billion. During the same quarter last year, the company posted $2.69 earnings per share.
Several institutional investors have recently modified their holdings of PRU. Oregon Public Employees Retirement Fund increased its stake in shares of Prudential Financial by 8,297.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 11,932,559 shares of the financial services provider’s stock worth $146,000 after acquiring an additional 11,790,464 shares in the last quarter. TIAA CREF Investment Management LLC increased its stake in shares of Prudential Financial by 31.9% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 3,468,515 shares of the financial services provider’s stock worth $351,430,000 after acquiring an additional 839,309 shares in the last quarter. CIBC World Markets Inc. increased its stake in shares of Prudential Financial by 985.8% in the 3rd quarter. CIBC World Markets Inc. now owns 688,124 shares of the financial services provider’s stock worth $69,721,000 after acquiring an additional 624,750 shares in the last quarter. Rothschild & Co. Asset Management US Inc. bought a new position in shares of Prudential Financial in the 3rd quarter worth about $63,195,000. Finally, Teachers Advisors LLC increased its stake in shares of Prudential Financial by 52.5% in the 3rd quarter. Teachers Advisors LLC now owns 1,453,338 shares of the financial services provider’s stock worth $147,252,000 after acquiring an additional 500,185 shares in the last quarter. Institutional investors own 66.23% of the company’s stock.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 14th. Investors of record on Wednesday, February 20th will be paid a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 4.37%. This is a positive change from Prudential Financial’s previous quarterly dividend of $0.90. The ex-dividend date is Tuesday, February 19th. Prudential Financial’s dividend payout ratio (DPR) is presently 30.80%.
About Prudential Financial
Prudential Financial, Inc, through its subsidiaries, provides insurance, investment management, and other financial products and services in the United States and internationally. It operates through U.S. Individual Solutions, U.S. Workplace Solutions, Investment Management, and International Insurance divisions.
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