Prudential Financial (NYSE:PRU) Posts Earnings Results, Misses Expectations By $0.40 EPS

Prudential Financial (NYSE:PRU) posted its quarterly earnings results on Tuesday. The financial services provider reported $2.96 EPS for the quarter, missing analysts’ consensus estimates of $3.36 by ($0.40), Zacks reports. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%.

Prudential Financial Price Performance

Shares of PRU stock traded down $0.99 on Tuesday, hitting $117.91. 2,389,942 shares of the stock traded hands, compared to its average volume of 1,666,427. The firm has a market cap of $41.97 billion, a price-to-earnings ratio of 10.48, a PEG ratio of 1.12 and a beta of 1.31. Prudential Financial has a 52 week low of $101.72 and a 52 week high of $130.55. The firm has a 50 day simple moving average of $120.61 and a two-hundred day simple moving average of $120.50. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.14 and a quick ratio of 0.14.

Insider Activity

In other news, major shareholder Insurance Co Of Ame Prudential acquired 537,249 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were purchased at an average cost of $27.92 per share, for a total transaction of $14,999,992.08. Following the transaction, the insider now directly owns 4,780,293 shares of the company’s stock, valued at approximately $133,465,780.56. This trade represents a 12.66 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on PRU shares. Bank of America increased their price target on shares of Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. TD Cowen increased their price target on shares of Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a report on Wednesday, November 27th. Evercore ISI upgraded shares of Prudential Financial from an “underperform” rating to an “inline” rating and increased their price target for the company from $117.00 to $140.00 in a report on Thursday, November 14th. Piper Sandler dropped their target price on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Finally, Jefferies Financial Group raised their target price on shares of Prudential Financial from $149.00 to $152.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $125.31.

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.