Prudential Financial, Inc. (NYSE:PRU) – Investment analysts at Langen Mcalenn lifted their FY2017 earnings estimates for shares of Prudential Financial in a note issued to investors on Monday. Langen Mcalenn analyst L. Greenberg now forecasts that the financial services provider will earn $10.20 per share for the year, up from their prior forecast of $10.15.
PRU has been the subject of a number of other research reports. Royal Bank Of Canada restated a “hold” rating and set a $117.00 price objective on shares of Prudential Financial in a research report on Wednesday, September 6th. BidaskClub lowered Prudential Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Morgan Stanley boosted their price objective on Prudential Financial from $118.00 to $123.00 and gave the company an “equal weight” rating in a research report on Thursday, October 5th. FBR & Co upgraded Prudential Financial from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $117.00 to $100.00 in a research report on Tuesday. Finally, Wells Fargo & Company restated a “hold” rating on shares of Prudential Financial in a research report on Thursday, August 3rd. Eight investment analysts have rated the stock with a hold rating, eight have assigned 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 $114.30.
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Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $2.09 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.70 by ($0.61). Prudential Financial had a return on equity of 8.98% and a net margin of 7.15%. The company had revenue of $13.03 billion for the quarter, compared to analysts’ expectations of $12.45 billion. During the same quarter last year, the company earned $1.84 EPS.
Institutional investors have recently made changes to their positions in the business. Fieldpoint Private Securities LLC bought a new stake in Prudential Financial during the 2nd quarter valued at $103,000. Hudock Capital Group LLC raised its stake in Prudential Financial by 0.7% during the 2nd quarter. Hudock Capital Group LLC now owns 1,144 shares of the financial services provider’s stock valued at $123,000 after acquiring an additional 8 shares in the last quarter. Guardian Life Insurance Co. of America raised its stake in Prudential Financial by 0.3% during the 1st quarter. Guardian Life Insurance Co. of America now owns 1,658 shares of the financial services provider’s stock valued at $177,000 after acquiring an additional 5 shares in the last quarter. Accurate Investment Solutions Inc. raised its stake in Prudential Financial by 2.3% during the 2nd quarter. Accurate Investment Solutions Inc. now owns 1,664 shares of the financial services provider’s stock valued at $180,000 after acquiring an additional 38 shares in the last quarter. Finally, Advisory Services Network LLC raised its stake in Prudential Financial by 128.8% during the 2nd quarter. Advisory Services Network LLC now owns 1,700 shares of the financial services provider’s stock valued at $184,000 after acquiring an additional 957 shares in the last quarter. 64.45% of the stock is currently owned by hedge funds and other institutional investors.
In other Prudential Financial news, insider Stephen Pelletier sold 4,133 shares of Prudential Financial stock in a transaction on Monday, August 7th. The stock was sold at an average price of $112.18, for a total transaction of $463,639.94. Following the sale, the insider now owns 10,924 shares of the company’s stock, valued at approximately $1,225,454.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Nicholas C. Silitch sold 14,897 shares of Prudential Financial stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $110.00, for a total value of $1,638,670.00. Following the sale, the insider now directly owns 21,274 shares in the company, valued at approximately $2,340,140. The disclosure for this sale can be found here. 0.66% of the stock is owned by insiders.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 14th. Shareholders of record on Tuesday, August 22nd were paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 2.74%. The ex-dividend date was Friday, August 18th. Prudential Financial’s payout ratio is currently 33.63%.
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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