FY2024 Earnings Estimate for PRU Issued By Zacks Research

Prudential Financial, Inc. (NYSE:PRU) – Equities research analysts at Zacks Research lifted their FY2024 earnings per share (EPS) estimates for shares of Prudential Financial in a research report issued on Wednesday, November 20th. Zacks Research analyst T. De now expects 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.

PRU has been the topic of a number of other research reports. Barclays lifted 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. Evercore ISI upgraded Prudential Financial from an “underperform” rating to an “inline” rating and increased their price objective for the company from $117.00 to $140.00 in a report on Thursday, November 14th. Morgan Stanley dropped their target price 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. UBS Group increased their price target on Prudential Financial from $112.00 to $119.00 and gave the company a “neutral” rating in a research note on Tuesday, August 13th. Finally, Argus upgraded Prudential Financial to a “strong-buy” rating in a research note 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 issued a strong buy rating to the company. According to MarketBeat, Prudential Financial presently has an average rating of “Hold” and an average target price of $125.69.

Prudential Financial Price Performance

PRU opened at $126.26 on Friday. The firm has a market capitalization 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 debt-to-equity ratio of 0.60, a current ratio of 0.14 and a quick ratio of 0.14. The business’s 50-day moving average is $123.06 and its two-hundred day moving average is $119.61. Prudential Financial has a 1 year low of $93.99 and a 1 year high of $129.13.

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

Prudential Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 19th will be issued a dividend of $1.30 per share. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $5.20 annualized dividend and a dividend yield of 4.12%. Prudential Financial’s dividend payout ratio (DPR) is presently 46.22%.

Insider Activity at Prudential Financial

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Creekmur Asset Management LLC boosted its stake in Prudential Financial by 78.8% during the 1st quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 108 shares during the last quarter. Lynx Investment Advisory purchased a new stake in Prudential Financial during the 2nd quarter valued at about $29,000. Ashton Thomas Securities LLC acquired a new stake in Prudential Financial in the 3rd quarter valued at about $31,000. Quarry LP lifted its stake in Prudential Financial by 376.3% in the 3rd quarter. Quarry LP now owns 281 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 222 shares in the last quarter. Finally, Crewe Advisors LLC purchased a new stake in shares of Prudential Financial in the first quarter valued at approximately $33,000. 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.