Prudential Financial (NYSE:PRU) Releases Quarterly Earnings Results, Misses Estimates By $0.04 EPS

Prudential Financial (NYSE:PRU) released its quarterly earnings results on Tuesday. The financial services provider reported $3.12 EPS for the quarter, missing the consensus estimate of $3.16 by ($0.04), Briefing.com reports. Prudential Financial had a return on equity of 15.54% and a net margin of 3.76%. The business had revenue of $15.01 billion during the quarter, compared to analyst estimates of $14.50 billion. During the same quarter last year, the firm posted $2.66 EPS. The company’s revenue was up 69.9% compared to the same quarter last year.

Prudential Financial Price Performance

Shares of NYSE:PRU opened at $112.30 on Thursday. The business has a 50 day moving average price of $112.00 and a 200 day moving average price of $104.16. Prudential Financial has a twelve month low of $77.22 and a twelve month high of $118.69. The company has a market cap of $40.32 billion, a price-to-earnings ratio of 19.10, a PEG ratio of 0.75 and a beta of 1.35. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.65.

Prudential Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Tuesday, February 20th were paid a dividend of $1.30 per share. This is an increase from Prudential Financial’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend was Friday, February 16th. This represents a $5.20 annualized dividend and a yield of 4.63%. Prudential Financial’s dividend payout ratio is presently 88.44%.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Piper Sandler boosted their price target on Prudential Financial from $114.00 to $125.00 and gave the stock a “neutral” rating in a research note on Friday, April 5th. Raymond James lowered Prudential Financial from a “strong-buy” rating to a “market perform” rating in a report on Friday, February 9th. UBS Group boosted their price objective on Prudential Financial from $108.00 to $112.00 and gave the company a “neutral” rating in a report on Monday, February 12th. Morgan Stanley boosted their price objective on Prudential Financial from $109.00 to $117.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $118.00 price objective (down from $119.00) on shares of Prudential Financial in a report on Wednesday, January 3rd. Two research analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company. According to data from MarketBeat, Prudential Financial has an average rating of “Hold” and a consensus target price of $111.42.

Insiders Place Their Bets

In other Prudential Financial news, SVP Robert Axel sold 6,436 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $111.86, for a total value of $719,930.96. Following the completion of the sale, the senior vice president now owns 7,901 shares in the company, valued at approximately $883,805.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Prudential Financial news, SVP Robert Axel sold 6,436 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $111.86, for a total value of $719,930.96. Following the completion of the sale, the senior vice president now owns 7,901 shares in the company, valued at approximately $883,805.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Andrew F. Sullivan sold 7,685 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $111.57, for a total value of $857,415.45. Following the completion of the transaction, the executive vice president now directly owns 13,691 shares of the company’s stock, valued at $1,527,504.87. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,255 shares of company stock worth $3,215,664. 0.31% of the stock is currently owned by company insiders.

About Prudential Financial

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.