Prudential Financial, Inc. (PRU) Announces Quarterly Earnings Results, Beats Estimates By $0.30 EPS
Prudential Financial, Inc. (NYSE:PRU) released its earnings results on Wednesday. The financial services provider reported $3.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.71 by $0.30, Bloomberg Earnings reports. The business had revenue of $13.36 billion for the quarter, compared to analyst estimates of $12.24 billion. Prudential Financial had a net margin of 7.71% and a return on equity of 9.20%. During the same quarter in the previous year, the business earned $2.66 earnings per share.
Prudential Financial (PRU) traded up $1.41 during trading hours on Friday, hitting $111.99. 874,069 shares of the stock traded hands, compared to its average volume of 1,504,015. The company has a market capitalization of $48,225.38, a P/E ratio of 10.91 and a beta of 1.56.
Several equities analysts recently issued reports on PRU shares. Citigroup Inc. upgraded shares of Prudential Financial from a “neutral” rating to a “buy” rating and set a $103.00 target price on the stock in a report on Tuesday, October 17th. Goldman Sachs Group, Inc. (The) started coverage on shares of Prudential Financial in a report on Wednesday, October 18th. They issued a “neutral” rating and a $114.00 target price on the stock. Royal Bank Of Canada restated a “hold” rating and issued a $117.00 target price on shares of Prudential Financial in a report on Wednesday, September 6th. BidaskClub lowered shares of Prudential Financial from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. Finally, FBR & Co upgraded shares of Prudential Financial from a “neutral” rating to a “buy” rating and dropped their target price for the company from $117.00 to $100.00 in a report on Tuesday, October 10th. Eight research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $114.64.
In other news, insider Nicholas C. Silitch sold 14,897 shares of the business’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $110.00, for a total transaction of $1,638,670.00. Following the completion of the sale, the insider now directly owns 21,274 shares of the company’s stock, valued at $2,340,140. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Stephen Pelletier sold 4,133 shares of the business’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $112.18, for a total transaction of $463,639.94. Following the sale, the insider now directly owns 10,924 shares of the company’s stock, valued at $1,225,454.32. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.
About Prudential Financial
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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