Prudential Financial (NYSE:PRU) issued its quarterly earnings results on Wednesday. The financial services provider reported $3.00 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.14 by ($0.14), Bloomberg Earnings reports. Prudential Financial had a return on equity of 10.20% and a net margin of 7.01%. The firm had revenue of $13.65 billion for the quarter, compared to the consensus estimate of $13.74 billion. During the same period last year, the company posted $3.08 EPS.
NYSE:PRU traded up $1.50 on Friday, hitting $103.34. The company had a trading volume of 58,443 shares, compared to its average volume of 2,152,534. The company has a market cap of $41.58 billion, a price-to-earnings ratio of 8.83, a PEG ratio of 0.92 and a beta of 1.48. 0.35, a current ratio of 0.14 and a quick ratio of 0.14. Prudential Financial has a 52 week low of $75.61 and a 52 week high of $106.64.
Get Prudential Financial alerts: In related news, insider Nicholas C. Silitch sold 13,000 shares of the that occurred on Thursday, March 14th. The shares were sold at an average price of $95.25, for a total value of $1,238,250.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink . Also, EVP Stephen Pelletier sold 6,532 shares of the that occurred on Friday, February 15th. The shares were sold at an average price of $94.14, for a total transaction of $614,922.48. The disclosure for this sale can be found here . In the last three months, insiders sold 45,538 shares of company stock valued at $4,298,777. 0.76% of the stock is owned by insiders.
Large investors have recently modified their holdings of the stock. Norway Savings Bank increased its position in shares of Prudential Financial by 13.6% during the fourth quarter. Norway Savings Bank now owns 958 shares of the financial services provider’s stock worth $78,000 after buying an additional 115 shares during the period. Van ECK Associates Corp increased its position in shares of Prudential Financial by 2.0% during the fourth quarter. Van ECK Associates Corp now owns 6,223 shares of the financial services provider’s stock worth $507,000 after buying an additional 120 shares during the period. Garland Capital Management Inc. increased its position in shares of Prudential Financial by 0.3% during the fourth quarter. Garland Capital Management Inc. now owns 48,625 shares of the financial services provider’s stock worth $3,965,000 after buying an additional 125 shares during the period. ACG Wealth increased its position in shares of Prudential Financial by 2.3% during the first quarter. ACG Wealth now owns 5,500 shares of the financial services provider’s stock worth $505,000 after buying an additional 126 shares during the period. Finally, Stratos Wealth Partners LTD. increased its position in shares of Prudential Financial by 2.0% during the fourth quarter. Stratos Wealth Partners LTD. now owns 7,096 shares of the financial services provider’s stock worth $579,000 after buying an additional 137 shares during the period. 65.57% of the stock is owned by institutional investors and hedge funds.
A number of analysts have recently weighed in on PRU shares. Zacks Investment Research downgraded shares of Prudential Financial from a “hold” rating to a “sell” rating in a report on Friday, February 1st. ValuEngine raised shares of Prudential Financial from a “sell” rating to a “hold” rating in a report on Wednesday. UBS Group increased their price objective on shares of Prudential Financial from $108.00 to $114.00 and gave the company a “buy” rating in a research note on Tuesday, April 9th. Deutsche Bank increased their price objective on shares of Prudential Financial from $97.00 to $104.00 and gave the company a “hold” rating in a research note on Friday, April 12th. Finally, Evercore ISI raised 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 research note on Wednesday, January 9th. Five analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Prudential Financial presently has an average rating of “Buy” and a consensus target price of $112.38.
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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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