Prudential Financial (NYSE:PRU) Releases Quarterly Earnings Results, Misses Expectations By $0.08 EPS

Prudential Financial (NYSE:PRU) issued its quarterly earnings data on Wednesday. The financial services provider reported $3.14 EPS for the quarter, missing the consensus estimate of $3.22 by ($0.08), Briefing.com reports. The company had revenue of $14.11 billion during the quarter, compared to analysts’ expectations of $13.63 billion. Prudential Financial had a return on equity of 9.77% and a net margin of 6.92%. During the same period last year, the company earned $3.01 earnings per share.

Shares of PRU stock traded down $2.53 during trading on Friday, hitting $88.56. The company’s stock had a trading volume of 4,275,485 shares, compared to its average volume of 1,366,226. The company has a market cap of $41.13 billion, a P/E ratio of 7.58, a PEG ratio of 0.89 and a beta of 1.49. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.33. The business’s fifty day moving average is $100.68. Prudential Financial has a 52 week low of $75.61 and a 52 week high of $106.64.

Several brokerages have recently commented on PRU. Wells Fargo & Co set a $115.00 price objective on Prudential Financial and gave the stock a “buy” rating in a research note on Wednesday. UBS Group downgraded Prudential Financial from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $116.00 to $112.00 in a research note on Monday, May 13th. Citigroup set a $112.00 target price on Prudential Financial and gave the company a “buy” rating in a report on Thursday, May 23rd. ValuEngine lowered Prudential Financial from a “sell” rating to a “strong sell” rating in a report on Thursday. Finally, Deutsche Bank upped their target price on Prudential Financial from $97.00 to $104.00 and gave the company a “hold” rating in a report on Friday, April 12th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $108.59.

Hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. grew its holdings in Prudential Financial by 6.5% during the first quarter. BlackRock Inc. now owns 29,555,017 shares of the financial services provider’s stock valued at $2,715,518,000 after purchasing an additional 1,810,818 shares during the period. Geode Capital Management LLC grew its holdings in Prudential Financial by 6.8% during the fourth quarter. Geode Capital Management LLC now owns 5,129,191 shares of the financial services provider’s stock valued at $417,519,000 after purchasing an additional 326,075 shares during the period. Acadian Asset Management LLC grew its holdings in Prudential Financial by 23.3% during the first quarter. Acadian Asset Management LLC now owns 1,346,823 shares of the financial services provider’s stock valued at $123,741,000 after purchasing an additional 254,633 shares during the period. Toronto Dominion Bank grew its holdings in Prudential Financial by 101.1% during the first quarter. Toronto Dominion Bank now owns 460,179 shares of the financial services provider’s stock valued at $42,276,000 after purchasing an additional 231,402 shares during the period. Finally, Amundi Pioneer Asset Management Inc. grew its holdings in Prudential Financial by 5.6% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 2,487,379 shares of the financial services provider’s stock valued at $228,541,000 after purchasing an additional 131,406 shares during the period. 63.04% of the stock is owned by institutional investors.

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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Earnings History for Prudential Financial (NYSE:PRU)

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