The Prudential Financial, Inc. (PRU) Announces Earnings Results

The Prudential Financial, Inc. (PRU) Announces  Earnings Results

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

Prudential Financial, Inc. (NYSE:PRU) posted its quarterly earnings data on Wednesday. The financial services provider reported $2.09 earnings per share for the quarter, missing the Zacks’ 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 quarter in the prior year, the firm posted $1.84 EPS.

PRU has been the topic of a number of analyst reports. Zacks Investment Research upgraded shares of Prudential Financial from a “hold” rating to a “buy” rating and set a $117.00 price objective on the stock in a research report on Tuesday, April 18th. Credit Suisse Group reiterated a “hold” rating and set a $121.00 price objective on shares of Prudential Financial in a research report on Thursday, April 27th. ValuEngine upgraded shares of Prudential Financial from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 2nd. BidaskClub cut shares of Prudential Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Finally, Royal Bank Of Canada reiterated a “hold” rating and set a $113.00 price objective on shares of Prudential Financial in a research report on Tuesday, June 27th. Nine 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. The company presently has an average rating of “Buy” and an average price target of $111.21.

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

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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