Q3 2024 EPS Estimates for Prudential Financial, Inc. Lifted by Analyst (NYSE:PRU)

Prudential Financial, Inc. (NYSE:PRU) – Analysts at Zacks Research lifted their Q3 2024 EPS estimates for Prudential Financial in a note issued to investors on Thursday, August 22nd. Zacks Research analyst T. De now anticipates that the financial services provider will earn $3.48 per share for the quarter, up from their prior estimate of $3.46. The consensus estimate for Prudential Financial’s current full-year earnings is $13.33 per share. Zacks Research also issued estimates for Prudential Financial’s Q4 2024 earnings at $3.31 EPS, FY2024 earnings at $13.31 EPS, Q1 2025 earnings at $3.64 EPS, Q2 2025 earnings at $3.65 EPS, Q3 2025 earnings at $3.57 EPS, Q4 2025 earnings at $3.63 EPS and FY2025 earnings at $14.49 EPS.

PRU has been the topic of several other research reports. Argus raised shares of Prudential Financial to a “strong-buy” rating in a research report on Thursday, August 8th. Jefferies Financial Group dropped their price target on shares of Prudential Financial from $143.00 to $141.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. Morgan Stanley dropped their price target on shares of Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating on the stock in a research note on Monday, August 19th. Citigroup raised their target price on shares of Prudential Financial from $104.00 to $120.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 23rd. Finally, Wells Fargo & Company upgraded shares of Prudential Financial from an “underweight” rating to an “equal weight” rating and set a $113.00 price objective on the stock in a research report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Prudential Financial currently has a consensus rating of “Hold” and a consensus price target of $119.33.

Prudential Financial Stock Up 1.9 %

Shares of PRU opened at $117.41 on Monday. The stock has a market capitalization of $42.15 billion, a PE ratio of 19.97, a P/E/G ratio of 0.89 and a beta of 1.34. Prudential Financial has a 1 year low of $87.95 and a 1 year high of $128.52. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.13 and a current ratio of 0.13. The company’s 50-day simple moving average is $117.80 and its 200-day simple moving average is $114.91.

Prudential Financial (NYSE:PRU) last announced its earnings results on Thursday, August 1st. The financial services provider reported $3.39 earnings per share for the quarter, missing the consensus estimate of $3.43 by ($0.04). The company had revenue of $13.84 billion for the quarter, compared to analysts’ expectations of $13.78 billion. Prudential Financial had a return on equity of 16.00% and a net margin of 4.86%.

Prudential Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Tuesday, August 20th will be paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 4.43%. The ex-dividend date is Tuesday, August 20th. Prudential Financial’s dividend payout ratio (DPR) is presently 88.44%.

Insider Transactions at Prudential Financial

In related news, EVP Ann M. Kappler sold 2,839 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $113.43, for a total value of $322,027.77. Following the completion of the transaction, the executive vice president now owns 14,535 shares of the company’s stock, valued at approximately $1,648,705.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, major shareholder Insurance Co Of Ame Prudential bought 652,884 shares of the firm’s stock in a transaction dated Thursday, June 20th. The stock was acquired at an average price of $27.57 per share, for a total transaction of $18,000,011.88. Following the acquisition, the insider now owns 3,883,390 shares of the company’s stock, valued at $107,065,062.30. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Ann M. Kappler sold 2,839 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $113.43, for a total value of $322,027.77. Following the sale, the executive vice president now owns 14,535 shares of the company’s stock, valued at approximately $1,648,705.05. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Prudential Financial

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of Prudential Financial by 13.9% in the 4th quarter. Vanguard Group Inc. now owns 42,292,853 shares of the financial services provider’s stock valued at $4,386,192,000 after purchasing an additional 5,154,865 shares in the last quarter. Norges Bank bought a new position in shares of Prudential Financial in the fourth quarter worth $113,478,000. Dimensional Fund Advisors LP boosted its stake in Prudential Financial by 10.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,000,665 shares of the financial services provider’s stock valued at $414,926,000 after buying an additional 388,363 shares in the last quarter. AQR Capital Management LLC boosted its stake in Prudential Financial by 97.4% during the second quarter. AQR Capital Management LLC now owns 724,244 shares of the financial services provider’s stock valued at $84,874,000 after buying an additional 357,300 shares in the last quarter. Finally, Swedbank AB purchased a new stake in shares of Prudential Financial during the first quarter valued at $35,855,000. Hedge funds and other institutional investors own 56.83% of the company’s stock.

About Prudential Financial

Prudential Financial, Inc, together with its subsidiaries, provides insurance, investment management, and other financial products and services in the United States and internationally. It operates through PGIM, Retirement Strategies, Group Insurance, Individual Life, and International Businesses segments.