Prudential Financial (NYSE:PRU) announced its earnings results on Wednesday. The financial services provider reported $3.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.16 by ($0.01), Briefing.com reports. The firm had revenue of $14.43 billion for the quarter, compared to analyst estimates of $13.51 billion. Prudential Financial had a return on equity of 9.98% and a net margin of 13.16%. During the same quarter last year, the business earned $3.01 EPS.

PRU traded down $3.72 during midday trading on Thursday, hitting $96.97. The company had a trading volume of 4,077,875 shares, compared to its average volume of 2,069,288. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $41.02 billion, a PE ratio of 9.17, a PEG ratio of 0.90 and a beta of 1.44. Prudential Financial has a twelve month low of $89.33 and a twelve month high of $127.14.

A number of brokerages recently issued reports on PRU. Morgan Stanley dropped their target price on shares of Prudential Financial from $122.00 to $120.00 and set an “equal weight” rating for the company in a research report on Thursday. Zacks Investment Research cut shares of Prudential Financial from a “buy” rating to a “hold” rating in a research report on Friday, August 3rd. B. Riley increased their target price on shares of Prudential Financial from $116.00 to $124.00 and gave the stock a “buy” rating in a research report on Tuesday, August 7th. ValuEngine upgraded shares of Prudential Financial from a “strong sell” rating to a “sell” rating in a research report on Tuesday, September 4th. Finally, Credit Suisse Group dropped their target price on shares of Prudential Financial from $102.00 to $98.00 and set a “neutral” rating for the company in a research report on Friday, August 17th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $119.31.

In other news, insider Scott Sleyster sold 23,300 shares of the firm’s stock in a transaction dated Friday, September 28th. The shares were sold at an average price of $99.74, for a total value of $2,323,942.00. Following the transaction, the insider now owns 57,758 shares of the company’s stock, valued at approximately $5,760,782.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Prudential Financial Inc bought 880,000 shares of Prudential Financial stock in a transaction dated Tuesday, October 16th. The stock was acquired at an average cost of $25.00 per share, for a total transaction of $22,000,000.00. The disclosure for this purchase can be found here. Company insiders own 0.66% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of PRU. IFM Investors Pty Ltd boosted its stake in shares of Prudential Financial by 44.6% in the 2nd quarter. IFM Investors Pty Ltd now owns 19,074 shares of the financial services provider’s stock valued at $1,784,000 after purchasing an additional 5,882 shares during the last quarter. Polianta Ltd boosted its stake in shares of Prudential Financial by 5.3% in the 2nd quarter. Polianta Ltd now owns 12,000 shares of the financial services provider’s stock valued at $1,122,000 after purchasing an additional 600 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of Prudential Financial by 6.8% in the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 17,258 shares of the financial services provider’s stock valued at $1,614,000 after purchasing an additional 1,100 shares during the last quarter. Hexavest Inc. bought a new position in shares of Prudential Financial in the 2nd quarter valued at about $39,045,000. Finally, Midas Management Corp boosted its stake in Prudential Financial by 5.3% during the 2nd quarter. Midas Management Corp now owns 27,900 shares of the financial services provider’s stock worth $2,609,000 after acquiring an additional 1,400 shares during the last quarter. 63.15% of the stock is currently owned by institutional investors.

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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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Earnings History for Prudential Financial (NYSE:PRU)

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