FY2024 Earnings Estimate for PRU Issued By Zacks Research

Prudential Financial, Inc. (NYSE:PRU) – Zacks Research boosted their FY2024 earnings per share estimates for Prudential Financial in a report issued on Wednesday, November 20th. Zacks Research analyst T. De now forecasts that the financial services provider will post earnings of $13.33 per share for the year, up from their prior forecast 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.

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

Other equities research analysts have also issued research reports about the company. Morgan Stanley decreased their price target on Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating on the stock in a research note on Monday, August 19th. Argus upgraded Prudential Financial to a “strong-buy” rating in a research report on Thursday, August 8th. Bank of America raised their price target on Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Barclays boosted 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. Finally, Piper Sandler raised their target price on shares of Prudential Financial from $121.00 to $127.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Eleven investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Prudential Financial has a consensus rating of “Hold” and a consensus price target of $125.69.

Prudential Financial Trading Up 1.3 %

Shares of PRU opened at $127.89 on Friday. Prudential Financial has a twelve month low of $94.92 and a twelve month high of $129.13. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $45.53 billion, a P/E ratio of 11.37, a PEG ratio of 0.90 and a beta of 1.29. The firm’s 50-day moving average is $123.30 and its two-hundred day moving average is $119.72.

Prudential Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th will be issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 4.07%. The ex-dividend date is Tuesday, November 19th. Prudential Financial’s dividend payout ratio (DPR) is 46.22%.

Insider Activity

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

Institutional Trading of Prudential Financial

Institutional investors and hedge funds have recently bought and sold shares of the business. First Horizon Advisors Inc. grew its stake in 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 buying an additional 6,641 shares during the period. ORG Partners LLC acquired a new position in shares of Prudential Financial during the second quarter worth about $156,000. PGGM Investments boosted its position in shares of Prudential Financial by 98.0% in the second quarter. PGGM Investments now owns 64,277 shares of the financial services provider’s stock worth $7,533,000 after buying an additional 31,807 shares during the period. Janus Henderson Group PLC grew its stake in shares of Prudential Financial by 49.5% in the first 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 in the last quarter. Finally, Deerfield Management Company L.P. Series C purchased a new stake in shares of Prudential Financial during the 2nd quarter valued at about $530,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

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.