Prudential Financial (NYSE:PRU) Releases Earnings Results, Beats Expectations By $0.43 EPS

Prudential Financial (NYSE:PRU) issued its earnings results on Tuesday. The financial services provider reported $3.77 EPS for the quarter, beating analysts’ consensus estimates of $3.34 by $0.43, FiscalAI reports. The firm had revenue of $13.49 billion for the quarter, compared to analyst estimates of $14.66 billion. Prudential Financial had a return on equity of 16.68% and a net margin of 6.51%.

Prudential Financial Price Performance

PRU traded up $0.51 during trading on Tuesday, reaching $118.81. The company’s stock had a trading volume of 2,646,545 shares, compared to its average volume of 2,011,135. The company has a market cap of $40.99 billion, a price-to-earnings ratio of 10.76, a PEG ratio of 1.93 and a beta of 0.85. The firm has a fifty day simple moving average of $116.83 and a two-hundred day simple moving average of $108.81. Prudential Financial has a 1 year low of $91.89 and a 1 year high of $127.72. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.62.

Prudential Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Tuesday, August 25th were issued a $1.40 dividend. The ex-dividend date was Tuesday, August 25th. This represents a $5.60 dividend on an annualized basis and a yield of 4.7%. Prudential Financial’s dividend payout ratio is presently 50.72%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PRU. JPMorgan Chase & Co. 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 research report on Thursday, October 22nd. Keefe, Bruyette & Woods reduced their price target on shares of Prudential Financial from $123.00 to $119.00 and set a “market perform” rating for the company in a research report on Friday, October 16th. BMO Capital Markets raised their price target on shares of Prudential Financial from $90.00 to $120.00 and gave the company an “underperform” rating in a research note on Friday, August 21st. Piper Sandler lowered their price objective on Prudential Financial from $128.00 to $120.00 and set a “neutral” rating on the stock in a report on Monday, October 12th. Finally, Wall Street Zen lowered Prudential Financial from a “buy” rating to a “hold” rating in a research note on Monday, September 28th. Two research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and six have given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $111.27.

Insider Activity at Prudential Financial

In related news, EVP Ann Kappler sold 7,652 shares of Prudential Financial stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $125.01, for a total transaction of $956,576.52. Following the transaction, the executive vice president owned 14,407 shares in the company, valued at approximately $1,801,019.07. This trade represents a 34.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.05% of the company’s stock.

About Prudential Financial

Prudential Financial, Inc (NYSE: PRU) is a global financial services company that provides insurance, retirement, investment management and related financial products. Founded in Newark, New Jersey, in 1875, the company serves individuals, businesses and institutional investors through a range of businesses and distribution channels.

In the United States, Prudential offers life insurance, annuities, retirement plans and employee benefits, including group life, disability and dental insurance.