Prudential Financial (PRU) to Release Quarterly Earnings on Wednesday

Prudential Financial (NYSE:PRU) is scheduled to be issuing its quarterly earnings data after the market closes on Wednesday, October 30th. Analysts expect the company to announce earnings of $3.49 per share for the quarter. Investors interested in registering for the company’s conference call can do so using this link.

Prudential Financial (NYSE:PRU) last released its earnings results on Thursday, August 1st. The financial services provider reported $3.39 earnings per share for the quarter, missing analysts’ consensus estimates of $3.43 by ($0.04). The company had revenue of $13.84 billion during the quarter, compared to analysts’ expectations of $13.78 billion. Prudential Financial had a net margin of 4.86% and a return on equity of 16.00%. On average, analysts expect Prudential Financial to post $13 EPS for the current fiscal year and $15 EPS for the next fiscal year.

Prudential Financial Price Performance

Prudential Financial stock opened at $125.63 on Wednesday. The business’s 50 day simple moving average is $119.51 and its 200 day simple moving average is $117.64. Prudential Financial has a 12 month low of $87.95 and a 12 month high of $128.52. The company has a market cap of $44.85 billion, a price-to-earnings ratio of 16.15, a PEG ratio of 0.97 and a beta of 1.30. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.65.

Prudential Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Tuesday, August 20th were issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 4.14%. The ex-dividend date of this dividend was Tuesday, August 20th. Prudential Financial’s dividend payout ratio (DPR) is presently 66.84%.

Insider Activity at Prudential Financial

In related news, EVP Caroline Feeney sold 1,110 shares of Prudential Financial stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total value of $133,166.70. Following the transaction, the executive vice president now owns 10,175 shares in the company, valued at $1,220,694.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Prudential Financial news, EVP Caroline Feeney sold 1,110 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total transaction of $133,166.70. Following the completion of the sale, the executive vice president now owns 10,175 shares of the company’s stock, valued at $1,220,694.75. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Insurance Co Of Ame Prudential acquired 261,059 shares of the firm’s stock in a transaction on Tuesday, October 8th. The stock was purchased at an average price of $27.58 per share, for a total transaction of $7,200,007.22. Following the transaction, the insider now directly owns 4,208,549 shares of the company’s stock, valued at approximately $116,071,781.42. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 0.31% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Prudential Financial from $118.00 to $128.00 and gave the company a “neutral” rating in a research note on Tuesday, July 2nd. Bank of America raised their target price on Prudential Financial from $109.00 to $118.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Jefferies Financial Group lowered their price target on shares of Prudential Financial from $143.00 to $141.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Piper Sandler upped their target price on shares of Prudential Financial from $121.00 to $127.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Finally, Barclays assumed coverage on shares of Prudential Financial in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $118.00 price target for the company. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Prudential Financial currently has an average rating of “Hold” and a consensus target price of $123.69.

Prudential Financial Company Profile

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.