The Prudential Financial, Inc. (NYSE:PRU) Posts Quarterly Earnings Results, Misses Estimates By $0.62 EPS

The Prudential Financial, Inc. (NYSE:PRU) Posts Quarterly  Earnings Results, Misses Estimates By $0.62 EPS

Prudential Financial (NYSE PRU) traded up 0.73% on Wednesday, reaching $115.23. The company’s stock had a trading volume of 1,984,094 shares. The company has a market capitalization of $49.43 billion, a price-to-earnings ratio of 11.69 and a beta of 1.50. Prudential Financial has a 52 week low of $72.25 and a 52 week high of $115.26. The firm’s 50 day moving average price is $109.66 and its 200-day moving average price is $107.87.

Prudential Financial, Inc. (NYSE:PRU) announced its quarterly earnings data on Wednesday. The financial services provider reported $2.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.71 by $0.62, Briefing.com reports. Prudential Financial had a net margin of 7.78% and a return on equity of 8.52%. During the same period in the previous year, the firm posted $1.84 earnings per share.

In other Prudential Financial news, Chairman John R. Strangfeld, Jr. sold 201,585 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $110.00, for a total transaction of $22,174,350.00. Following the completion of the sale, the chairman now owns 456,121 shares in the company, valued at approximately $50,173,310. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Charles F. Lowrey sold 222,857 shares of the firm’s stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $108.04, for a total value of $24,077,470.28. Following the sale, the insider now owns 151,418 shares of the company’s stock, valued at approximately $16,359,200.72. The disclosure for this sale can be found here. 0.66% of the stock is owned by company insiders.

PRU has been the subject of several recent research reports. Deutsche Bank AG lifted their price objective on Prudential Financial from $114.00 to $117.00 and gave the company a “buy” rating in a research note on Wednesday, April 19th. BidaskClub upgraded Prudential Financial from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. ValuEngine upgraded Prudential Financial from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 2nd. Zacks Investment Research cut Prudential Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, June 14th. Finally, Wells Fargo & Company reiterated a “hold” rating on shares of Prudential Financial in a research note on Thursday, May 4th. Nine research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Prudential Financial presently has a consensus rating of “Buy” and an average price target of $111.21.

Prudential Financial Company Profile

Prudential Financial, Inc, is a financial services company. The Company, through its subsidiaries, offers a range of financial products and services, which includes life insurance, annuities, retirement-related services, mutual funds and investment management. The Company’s operations consists of four divisions, which together encompass seven segments.

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