Prudential Financial Inc (NYSE:PRU) – Stock analysts at B. Riley upped their FY2019 EPS estimates for shares of Prudential Financial in a report issued on Thursday, June 6th, Zacks Investment Research reports. B. Riley analyst R. Binner now forecasts that the financial services provider will post earnings per share of $12.80 for the year, up from their prior estimate of $12.75. B. Riley currently has a “Buy” rating and a $122.00 target price on the stock. B. Riley also issued estimates for Prudential Financial’s Q2 2020 earnings at $3.60 EPS and Q4 2020 earnings at $3.42 EPS.
A number of other brokerages also recently commented on PRU. ValuEngine upgraded Prudential Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, May 1st. UBS Group lifted their price objective on Prudential Financial from $108.00 to $114.00 and gave the stock a “buy” rating in a research report on Tuesday, April 9th. Deutsche Bank lifted their price objective on Prudential Financial from $97.00 to $104.00 and gave the stock a “hold” rating in a research report on Friday, April 12th. Zacks Investment Research upgraded Prudential Financial from a “hold” rating to a “buy” rating and set a $113.00 price objective on the stock in a research report on Wednesday, May 8th. Finally, Citigroup set a $112.00 price objective on Prudential Financial and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Five equities research 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’s stock. Prudential Financial presently has an average rating of “Buy” and an average price target of $112.21.
Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Wednesday, May 1st. The financial services provider reported $3.00 earnings per share for the quarter, missing analysts’ consensus estimates of $3.14 by ($0.14). The firm had revenue of $13.65 billion during the quarter, compared to analyst estimates of $13.74 billion. Prudential Financial had a net margin of 6.18% and a return on equity of 9.87%. During the same period in the prior year, the company posted $3.08 earnings per share.
Large investors have recently bought and sold shares of the business. Oregon Public Employees Retirement Fund lifted its holdings in shares of Prudential Financial by 8,297.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 11,932,559 shares of the financial services provider’s stock valued at $146,000 after purchasing an additional 11,790,464 shares during the last quarter. Norges Bank acquired a new stake in shares of Prudential Financial during the 4th quarter valued at $632,295,000. BlackRock Inc. boosted its stake in shares of Prudential Financial by 6.5% during the 1st quarter. BlackRock Inc. now owns 29,555,017 shares of the financial services provider’s stock valued at $2,715,518,000 after buying an additional 1,810,818 shares during the period. Bessemer Group Inc. boosted its stake in shares of Prudential Financial by 15,678.7% during the 4th quarter. Bessemer Group Inc. now owns 1,143,482 shares of the financial services provider’s stock valued at $93,251,000 after buying an additional 1,136,235 shares during the period. Finally, Alps Advisors Inc. lifted its stake in shares of Prudential Financial by 2,198.0% in the 4th quarter. Alps Advisors Inc. now owns 475,874 shares of the financial services provider’s stock valued at $38,808,000 after purchasing an additional 455,166 shares during the last quarter. Institutional investors own 63.24% of the company’s stock.
The firm also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Tuesday, May 28th were given a $1.00 dividend. The ex-dividend date was Friday, May 24th. This represents a $4.00 dividend on an annualized basis and a yield of 3.96%. Prudential Financial’s dividend payout ratio is currently 34.22%.
Prudential Financial Company Profile
Prudential Financial, Inc, through its subsidiaries, provides insurance, investment management, and other financial products and services. It operates through PGIM, U.S. Workplace Solutions, U.S. Individual Solutions, and International Insurance divisions. The PGIM division offers an array of asset management and advisory services related to public and private fixed income, public equity and real estate, commercial mortgage origination and servicing, and mutual funds and other retail services to institutional, private, and sub-advisory clients, as well as to insurance company separate accounts, government sponsored entities, and the general account.
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