Prudential Financial (NYSE:PRU) Announces Earnings Results

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

Prudential Financial Stock Down 0.8 %

Shares of NYSE PRU traded down $0.99 during midday trading on Tuesday, reaching $117.91. 2,389,942 shares of the company’s stock traded hands, compared to its average volume of 1,666,427. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.60. The stock’s 50 day simple moving average is $120.61 and its 200-day simple moving average is $120.50. Prudential Financial has a one year low of $101.72 and a one year high of $130.55. The company has a market cap of $41.97 billion, a price-to-earnings ratio of 10.48, a P/E/G ratio of 1.12 and a beta of 1.31.

Analyst Upgrades and Downgrades

PRU has been the topic of a number of research reports. Jefferies Financial Group boosted 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. Evercore ISI upgraded shares of Prudential Financial from an “underperform” rating to an “inline” rating and boosted their target price for the stock from $117.00 to $140.00 in a report on Thursday, November 14th. Barclays boosted their target price on shares of Prudential Financial from $127.00 to $128.00 and gave the stock an “equal weight” rating in a report on Thursday, January 23rd. Keefe, Bruyette & Woods dropped their price target on shares of Prudential Financial from $135.00 to $129.00 and set a “market perform” rating for the company in a research note on Thursday, January 16th. Finally, Piper Sandler dropped their price target on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Prudential Financial currently has an average rating of “Hold” and an average price target of $125.31.

Insider Activity

In other news, major shareholder Insurance Co Of Ame Prudential bought 537,249 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was bought at an average price of $27.92 per share, with a total value of $14,999,992.08. Following the completion of the transaction, the insider now directly owns 4,780,293 shares of the company’s stock, valued at approximately $133,465,780.56. The trade was a 12.66 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.34% of the company’s stock.

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.