Prudential Financial Inc (NYSE:PRU) – Research analysts at B. Riley dropped their Q2 2019 earnings per share (EPS) estimates for shares of Prudential Financial in a report issued on Wednesday, June 26th, according to Zacks Investment Research. B. Riley analyst R. Binner now expects that the financial services provider will earn $3.25 per share for the quarter, down from their previous forecast of $3.35. 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 FY2021 earnings at $15.00 EPS.
A number of other research analysts have also weighed in on the company. Deutsche Bank boosted their target price on Prudential Financial from $97.00 to $104.00 and gave the stock a “hold” rating in a report on Friday, April 12th. Zacks Investment Research lowered Haynes International from a “hold” rating to a “sell” rating in a report on Wednesday, May 8th. Wells Fargo & Co set a $29.00 target price on Amphastar Pharmaceuticals and gave the stock a “buy” rating in a report on Thursday, June 6th. Citigroup lowered Barrick Gold to a “neutral” rating in a report on Thursday, May 23rd. Finally, UBS Group set a $15.00 target price on Hain Celestial Group and gave the stock a “sell” rating in a report on Monday, May 13th. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $110.59.
Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Wednesday, May 1st. The financial services provider reported $3.00 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $3.14 by ($0.14). The company had revenue of $13.65 billion for the quarter, compared to analyst estimates of $13.74 billion. Prudential Financial had a return on equity of 9.87% and a net margin of 6.18%. During the same period last year, the firm earned $3.08 EPS.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Advisory Alpha LLC purchased a new position in Prudential Financial during the first quarter valued at approximately $32,000. Berman Capital Advisors LLC grew its stake in Prudential Financial by 68.0% during the first quarter. Berman Capital Advisors LLC now owns 346 shares of the financial services provider’s stock worth $31,000 after buying an additional 140 shares during the period. Somerset Trust Co grew its stake in Prudential Financial by 276.4% during the first quarter. Somerset Trust Co now owns 414 shares of the financial services provider’s stock worth $38,000 after buying an additional 304 shares during the period. Semmax Financial Advisors Inc. purchased a new stake in Prudential Financial during the fourth quarter worth approximately $35,000. Finally, Rational Advisors LLC grew its stake in Prudential Financial by 469.6% during the first quarter. Rational Advisors LLC now owns 450 shares of the financial services provider’s stock worth $41,000 after buying an additional 371 shares during the period. 63.25% of the stock is currently owned by hedge funds and other institutional investors.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Tuesday, May 28th were issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 3.96%. The ex-dividend date was Friday, May 24th. Prudential Financial’s dividend payout ratio is 34.22%.
About Prudential Financial
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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