Prudential Financial (NYSE:PRU) Issues Earnings Results, Beats Expectations By $0.43 EPS

Prudential Financial (NYSE:PRU) issued its earnings results on Tuesday. The financial services provider reported $3.77 EPS for the quarter, topping the consensus estimate of $3.34 by $0.43, FiscalAI reports. The business had revenue of $13.49 billion during the quarter, compared to the consensus estimate of $14.66 billion. Prudential Financial had a return on equity of 16.68% and a net margin of 6.51%.

Prudential Financial Price Performance

PRU stock traded up $0.51 during midday trading on Tuesday, reaching $118.81. The company had a trading volume of 2,646,545 shares, compared to its average volume of 2,011,135. The company has a market capitalization of $40.99 billion, a P/E ratio of 10.76, a P/E/G ratio of 1.93 and a beta of 0.85. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.16 and a quick ratio of 0.16. Prudential Financial has a 1 year low of $91.89 and a 1 year high of $127.72. The firm has a 50-day moving average price of $116.83 and a 200-day moving average price of $108.81.

Prudential Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Tuesday, August 25th were given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 4.7%. The ex-dividend date was Tuesday, August 25th. Prudential Financial’s payout ratio is presently 50.72%.

Insider Buying and Selling at Prudential Financial

In related news, EVP Ann Kappler sold 7,652 shares of Prudential Financial stock in a transaction on Friday, August 14th. The shares were sold at an average price of $125.01, for a total value of $956,576.52. Following the transaction, the executive vice president owned 14,407 shares in the company, valued at $1,801,019.07. This trade represents a 34.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on PRU shares. Keefe, Bruyette & Woods decreased their price target on Prudential Financial from $123.00 to $119.00 and set a “market perform” rating on the stock in a research report on Friday, October 16th. Evercore cut their price objective on shares of Prudential Financial from $110.00 to $106.00 in a research report on Friday, October 9th. Weiss Ratings cut shares of Prudential Financial from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, October 14th. Zacks Research lowered shares of Prudential Financial from a “hold” rating to a “strong sell” rating in a report on Friday, October 23rd. Finally, Wall Street Zen cut shares of Prudential Financial from a “buy” rating to a “hold” rating in a research note on Monday, September 28th. Two research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and six have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $111.27.

Prudential Financial Company Profile

Prudential Financial, Inc (NYSE: PRU) is a global financial services company that provides insurance, retirement, investment management and related financial products. Founded in Newark, New Jersey, in 1875, the company serves individuals, businesses and institutional investors through a range of businesses and distribution channels.

In the United States, Prudential offers life insurance, annuities, retirement plans and employee benefits, including group life, disability and dental insurance.