Prudential Public (NYSE:PUK) Releases Quarterly Earnings Results, Misses Expectations By $0.70 EPS

Prudential Public (NYSE:PUK) posted its earnings results on Wednesday. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.28 by ($0.70), FiscalAI reports. The company had revenue of $3.90 billion during the quarter.

Prudential Public Price Performance

NYSE PUK traded down $0.08 during trading hours on Wednesday, hitting $28.35. 808,044 shares of the company were exchanged, compared to its average volume of 1,014,386. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.04 and a quick ratio of 0.04. The company has a 50 day moving average of $28.10 and a two-hundred day moving average of $29.17. Prudential Public has a 52-week low of $24.61 and a 52-week high of $34.03.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PUK. Zacks Research lowered shares of Prudential Public from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 19th. Weiss Ratings reissued a “hold (c+)” rating on shares of Prudential Public in a research note on Monday, July 6th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Prudential Public in a research note on Friday, May 15th. Four analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Prudential Public presently has a consensus rating of “Hold”.

Hedge Funds Weigh In On Prudential Public

A number of institutional investors and hedge funds have recently made changes to their positions in PUK. Morgan Stanley increased its stake in shares of Prudential Public by 79.2% during the fourth quarter. Morgan Stanley now owns 4,866,383 shares of the financial services provider’s stock worth $151,442,000 after buying an additional 2,150,074 shares during the period. Bank of America Corp DE lifted its stake in Prudential Public by 241.5% in the third quarter. Bank of America Corp DE now owns 2,998,803 shares of the financial services provider’s stock worth $83,936,000 after acquiring an additional 2,120,580 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Prudential Public by 63.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,585,685 shares of the financial services provider’s stock worth $80,499,000 after acquiring an additional 1,007,961 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in Prudential Public by 99.9% during the 2nd quarter. BNP Paribas Financial Markets now owns 819,518 shares of the financial services provider’s stock worth $20,504,000 after acquiring an additional 409,517 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its position in shares of Prudential Public by 725.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 385,917 shares of the financial services provider’s stock valued at $9,656,000 after purchasing an additional 339,188 shares during the last quarter. 1.90% of the stock is owned by institutional investors and hedge funds.

Prudential Public Company Profile

Prudential Public (NYSE: PUK) is the New York listing for Prudential plc, a London?headquartered international life insurance and financial services group. The company provides a range of long?term savings, retirement and protection products designed for individual and institutional customers. Its core offerings include life insurance, pensions and annuities, group protection, and wealth and asset management services delivered through both proprietary and third?party distribution channels.

Prudential operates across multiple regions, with significant focus on fast?growing markets in Asia and Africa alongside its established businesses in Europe and other international markets.