Prudential Financial (NYSE:PRU) announced its earnings results on Wednesday. The financial services provider reported $2.69 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.64 by $0.05, Briefing.com reports. The company had revenue of $15.25 billion during the quarter, compared to analyst estimates of $12.87 billion. Prudential Financial had a net margin of 13.41% and a return on equity of 9.55%. During the same quarter last year, the firm posted $2.46 earnings per share.
Shares of Prudential Financial (NYSE:PRU) opened at $105.28 on Friday. The firm has a market cap of $44,490.00, a P/E ratio of 5.79, a P/E/G ratio of 1.13 and a beta of 1.49. Prudential Financial has a 1-year low of $97.88 and a 1-year high of $127.14. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.34.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Wednesday, February 21st will be issued a $0.90 dividend. This is a boost from Prudential Financial’s previous quarterly dividend of $0.75. This represents a $3.60 annualized dividend and a yield of 3.42%. Prudential Financial’s dividend payout ratio (DPR) is 16.80%.
Several research analysts have recently commented on the stock. Royal Bank of Canada reissued a “hold” rating and issued 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 issued a $127.00 price objective on shares of Prudential Financial in a research note on Thursday, December 21st. Morgan Stanley raised their price objective on shares of Prudential Financial from $123.00 to $124.00 and gave the company an “equal weight” rating in a research note on Thursday, November 2nd. Goldman Sachs Group assumed coverage on shares of Prudential Financial in a research note on Wednesday, October 18th. They issued a “neutral” rating and a $114.00 price objective for the company. Finally, Citigroup raised shares of 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. Seven equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $119.06.
In related news, SVP Barbara Koster sold 16,801 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $115.17, for a total value of $1,934,971.17. Following the sale, the senior vice president now owns 37,327 shares of the company’s stock, valued at $4,298,950.59. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Timothy P. Harris sold 10,527 shares of the firm’s stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $115.00, for a total transaction of $1,210,605.00. The disclosure for this sale can be found here. 0.66% of the stock is owned by company insiders.
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Prudential Financial Company Profile
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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