Q4 2017 EPS Estimates for Prudential Financial Inc (PRU) Lowered by Langen Mcalenn

Prudential Financial Inc (NYSE:PRU) – Equities researchers at Langen Mcalenn reduced their Q4 2017 earnings per share (EPS) estimates for Prudential Financial in a note issued to investors on Tuesday. Langen Mcalenn analyst L. Greenberg now anticipates that the financial services provider will earn $2.56 per share for the quarter, down from their previous estimate of $2.58. Langen Mcalenn also issued estimates for Prudential Financial’s FY2018 earnings at $12.05 EPS.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $3.01 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.71 by $0.30. The company had revenue of $13.36 billion during the quarter, compared to analyst estimates of $12.24 billion. Prudential Financial had a return on equity of 9.51% and a net margin of 7.71%. During the same quarter last year, the company earned $2.66 earnings per share.

Several other research firms have also issued reports on PRU. Citigroup raised Prudential Financial from a “neutral” rating to a “buy” rating and set a $103.00 price objective for the company in a research note on Tuesday, October 17th. Morgan Stanley lifted their price objective on Prudential Financial from $118.00 to $123.00 and gave the company an “equal weight” rating in a research note on Thursday, October 5th. Royal Bank of Canada reissued a “hold” rating and set a $119.00 price objective on shares of Prudential Financial in a research note on Friday, November 3rd. Keefe, Bruyette & Woods reissued a “buy” rating and set a $127.00 price objective on shares of Prudential Financial in a research note on Thursday, December 21st. Finally, Sandler O’Neill restated a “buy” rating and set a $134.00 price target on shares of Prudential Financial in a research report on Thursday, January 11th. Seven research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Prudential Financial has an average rating of “Buy” and a consensus target price of $119.35.

Shares of Prudential Financial (NYSE:PRU) opened at $122.09 on Wednesday. The stock has a market capitalization of $52,890.00, a price-to-earnings ratio of 12.31, a P/E/G ratio of 1.29 and a beta of 1.55. Prudential Financial has a 52 week low of $97.88 and a 52 week high of $125.00. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.13 and a current ratio of 0.13.

Prudential Financial declared that its board has approved a stock buyback program on Thursday, December 14th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

In other news, EVP Timothy P. Harris sold 10,527 shares of Prudential Financial stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $115.00, for a total value of $1,210,605.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Barbara Koster sold 16,801 shares of Prudential Financial stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $115.17, for a total value of $1,934,971.17. Following the completion of the transaction, the senior vice president now owns 37,327 shares in the company, valued at approximately $4,298,950.59. The disclosure for this sale can be found here. Insiders have sold 116,818 shares of company stock worth $13,154,122 in the last 90 days. Company insiders own 0.66% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fieldpoint Private Securities LLC purchased a new position in shares of Prudential Financial in the second quarter worth about $103,000. Grove Bank & Trust increased its holdings in shares of Prudential Financial by 507.0% in the third quarter. Grove Bank & Trust now owns 1,129 shares of the financial services provider’s stock worth $120,000 after buying an additional 943 shares during the period. Legacy Advisors LLC purchased a new position in shares of Prudential Financial in the third quarter worth about $129,000. Zions Bancorporation increased its holdings in shares of Prudential Financial by 44.9% in the third quarter. Zions Bancorporation now owns 1,690 shares of the financial services provider’s stock worth $180,000 after buying an additional 524 shares during the period. Finally, Advisory Services Network LLC increased its holdings in shares of Prudential Financial by 128.8% in the second quarter. Advisory Services Network LLC now owns 1,700 shares of the financial services provider’s stock worth $184,000 after buying an additional 957 shares during the period. Hedge funds and other institutional investors own 64.50% of the company’s stock.

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About Prudential Financial

Prudential Financial, Inc, is a financial services company. The Company, through its subsidiaries, offers a range of financial products and services, which includes life insurance, annuities, retirement-related services, mutual funds and investment management. The Company’s operations consists of four divisions, which together encompass seven segments.

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