Zacks Research Has Positive Outlook of PRU FY2024 Earnings

Prudential Financial, Inc. (NYSE:PRU) – Equities researchers at Zacks Research lifted their FY2024 earnings per share (EPS) estimates for Prudential Financial in a note issued to investors on Wednesday, November 20th. Zacks Research analyst T. De now forecasts that the financial services provider will earn $13.33 per share for the year, up from their prior estimate of $13.31. The consensus estimate for Prudential Financial’s current full-year earnings is $13.33 per share. Zacks Research also issued estimates for Prudential Financial’s Q4 2024 earnings at $3.34 EPS, Q4 2025 earnings at $3.65 EPS, FY2025 earnings at $14.64 EPS, Q2 2026 earnings at $3.92 EPS and Q3 2026 earnings at $3.89 EPS.

A number of other equities analysts have also recently weighed in on PRU. Barclays increased their price objective on shares of Prudential Financial from $118.00 to $119.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. Wells Fargo & Company raised their price target on Prudential Financial from $116.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 5th. UBS Group increased their target price on Prudential Financial from $112.00 to $119.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. Evercore ISI raised Prudential Financial from an “underperform” rating to an “inline” rating and lifted their target price for the company from $117.00 to $140.00 in a research report on Thursday, November 14th. Finally, Argus raised shares of Prudential Financial to a “strong-buy” rating in a research report on Thursday, August 8th. Eleven equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $125.69.

Prudential Financial Trading Up 1.7 %

Shares of PRU stock opened at $126.26 on Friday. Prudential Financial has a 1-year low of $93.99 and a 1-year high of $129.13. The firm has a market cap of $44.95 billion, a PE ratio of 11.22, a price-to-earnings-growth ratio of 0.89 and a beta of 1.29. The company has a 50-day moving average of $123.06 and a two-hundred day moving average of $119.61. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.14 and a quick ratio of 0.14.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 EPS for the quarter, beating the consensus estimate of $3.47 by $0.01. The business had revenue of $19.48 billion for the quarter, compared to analyst estimates of $14.57 billion. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. During the same quarter in the prior year, the company posted $3.44 EPS.

Prudential Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 19th will be paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date is Tuesday, November 19th. Prudential Financial’s dividend payout ratio is presently 46.22%.

Insider Transactions at Prudential Financial

In related news, EVP Caroline Feeney sold 1,110 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total transaction of $133,166.70. Following the transaction, the executive vice president now owns 10,175 shares in the company, valued at $1,220,694.75. This trade represents a 9.84 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Insurance Co Of Ame Prudential acquired 261,059 shares of the firm’s stock in a transaction dated Tuesday, October 8th. The stock was purchased at an average cost of $27.58 per share, with a total value of $7,200,007.22. Following the completion of the acquisition, the insider now directly owns 4,208,549 shares of the company’s stock, valued at approximately $116,071,781.42. This trade represents a 6.61 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. ORG Partners LLC acquired a new position in Prudential Financial in the 2nd quarter valued at about $156,000. PGGM Investments raised its stake in shares of Prudential Financial by 98.0% during the second quarter. PGGM Investments now owns 64,277 shares of the financial services provider’s stock worth $7,533,000 after purchasing an additional 31,807 shares during the last quarter. First Horizon Advisors Inc. lifted its holdings in shares of Prudential Financial by 4.3% during the third quarter. First Horizon Advisors Inc. now owns 162,685 shares of the financial services provider’s stock worth $19,701,000 after purchasing an additional 6,641 shares during the period. Janus Henderson Group PLC increased its stake in Prudential Financial by 49.5% in the 1st quarter. Janus Henderson Group PLC now owns 80,148 shares of the financial services provider’s stock valued at $9,409,000 after buying an additional 26,520 shares during the period. Finally, Deerfield Management Company L.P. Series C purchased a new position in Prudential Financial during the 2nd quarter worth $530,000. 56.83% of the stock is owned by hedge funds and other institutional investors.

Prudential Financial Company Profile

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.