Prudential Financial (NYSE:PRU) Releases Quarterly Earnings Results, Misses Estimates By $0.08 EPS

Prudential Financial (NYSE:PRU) released its quarterly earnings results on Wednesday. The financial services provider reported $3.14 earnings per share for the quarter, missing the consensus estimate of $3.22 by ($0.08), Briefing.com reports. The firm had revenue of $14.11 billion for the quarter, compared to the consensus estimate of $13.63 billion. Prudential Financial had a net margin of 6.92% and a return on equity of 9.77%. During the same period in the previous year, the company earned $3.01 earnings per share.

Shares of NYSE:PRU traded down $2.53 during midday trading on Friday, hitting $88.56. The company had a trading volume of 4,275,485 shares, compared to its average volume of 1,366,226. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.11 and a current ratio of 0.11. The firm has a market cap of $41.13 billion, a P/E ratio of 7.58, a price-to-earnings-growth ratio of 0.89 and a beta of 1.49. Prudential Financial has a 12-month low of $75.61 and a 12-month high of $106.64. The business has a fifty day simple moving average of $100.68.

PRU has been the topic of several research analyst reports. Wells Fargo & Co set a $115.00 price target on Prudential Financial and gave the company a “buy” rating in a report on Wednesday. Zacks Investment Research raised Prudential Financial from a “hold” rating to a “buy” rating and set a $113.00 price target on the stock in a report on Wednesday, May 8th. Citigroup set a $112.00 price target on Prudential Financial and gave the company a “buy” rating in a report on Thursday, May 23rd. UBS Group cut Prudential Financial from a “buy” rating to a “neutral” rating and lowered their price target for the company from $116.00 to $112.00 in a report on Monday, May 13th. Finally, Deutsche Bank increased their price target on Prudential Financial from $97.00 to $104.00 and gave the company a “hold” rating in a report on Friday, April 12th. One analyst has rated the stock with a sell rating, five have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Prudential Financial has a consensus rating of “Buy” and a consensus target price of $108.59.

Several large investors have recently bought and sold shares of the company. BlackRock Inc. increased its stake in Prudential Financial by 6.5% in the 1st quarter. BlackRock Inc. now owns 29,555,017 shares of the financial services provider’s stock worth $2,715,518,000 after buying an additional 1,810,818 shares in the last quarter. Geode Capital Management LLC increased its stake in Prudential Financial by 6.8% in the 4th quarter. Geode Capital Management LLC now owns 5,129,191 shares of the financial services provider’s stock worth $417,519,000 after buying an additional 326,075 shares in the last quarter. Amundi Pioneer Asset Management Inc. increased its stake in Prudential Financial by 5.6% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 2,487,379 shares of the financial services provider’s stock worth $228,541,000 after buying an additional 131,406 shares in the last quarter. Bank of Montreal Can increased its stake in Prudential Financial by 2.2% in the 1st quarter. Bank of Montreal Can now owns 1,767,172 shares of the financial services provider’s stock worth $162,367,000 after buying an additional 38,365 shares in the last quarter. Finally, OppenheimerFunds Inc. increased its stake in Prudential Financial by 0.5% in the 1st quarter. OppenheimerFunds Inc. now owns 1,554,721 shares of the financial services provider’s stock worth $142,848,000 after buying an additional 7,894 shares in the last quarter. Hedge funds and other institutional investors own 63.04% of the company’s stock.

About Prudential Financial

Prudential Financial, Inc, through its subsidiaries, provides insurance, investment management, and other financial products and services. It operates through PGIM, U.S. Workplace Solutions, U.S. Individual Solutions, and International Insurance divisions. The PGIM division offers an array of asset management and advisory services related to public and private fixed income, public equity and real estate, commercial mortgage origination and servicing, and mutual funds and other retail services to institutional, private, and sub-advisory clients, as well as to insurance company separate accounts, government sponsored entities, and the general account.

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Earnings History for Prudential Financial (NYSE:PRU)

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