Prudential Financial (PRU) Announces Quarterly Earnings Results

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%.

Prudential Financial announced that its Board of Directors has authorized a stock buyback plan on Thursday, December 14th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

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.

Earnings History for Prudential Financial (NYSE:PRU)

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