Prudential Financial (NYSE:PRU) Releases Earnings Results, Misses Expectations By $0.40 EPS

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

Prudential Financial Trading Down 0.8 %

Shares of NYSE:PRU traded down $0.99 during mid-day trading on Tuesday, hitting $117.91. The company had a trading volume of 2,389,330 shares, compared to its average volume of 1,666,427. The company has a market capitalization of $41.97 billion, a PE ratio of 10.48, a price-to-earnings-growth ratio of 1.12 and a beta of 1.31. The firm has a fifty day moving average price of $120.61 and a 200 day moving average price of $120.50. 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 has a one year low of $101.72 and a one year high of $130.55.

Analyst Upgrades and Downgrades

PRU has been the topic of several research reports. BMO Capital Markets initiated coverage on Prudential Financial in a research report on Thursday, January 23rd. They set an “underperform” rating and a $101.00 price target on the stock. Bank of America upped their price target on shares of Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a report on Thursday, October 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. Piper Sandler dropped their price target on Prudential Financial from $127.00 to $124.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Finally, Keefe, Bruyette & Woods reduced their price objective on 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. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Prudential Financial currently has a consensus rating of “Hold” and a consensus target price of $125.31.

Insider Buying and Selling at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 537,249 shares of Prudential Financial stock in a transaction dated Monday, November 25th. The stock was purchased at an average price of $27.92 per share, for a total transaction of $14,999,992.08. Following the completion of the purchase, the insider now directly owns 4,780,293 shares of the company’s stock, valued at approximately $133,465,780.56. This trade represents a 12.66 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 0.34% of the stock is currently owned by company insiders.

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.