Langen Mcalenn Weighs in on Prudential Financial Inc’s Q3 2019 Earnings (PRU)

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Prudential Financial Inc (NYSE:PRU) – Equities researchers at Langen Mcalenn reduced their Q3 2019 EPS estimates for Prudential Financial in a research report issued on Wednesday, February 6th. Langen Mcalenn analyst L. Greenberg now forecasts that the financial services provider will post earnings of $3.36 per share for the quarter, down from their prior forecast of $3.38. Langen Mcalenn also issued estimates for Prudential Financial’s Q4 2019 earnings at $3.15 EPS.

Other research analysts have also recently issued reports about the stock. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $113.00 target price on shares of Prudential Financial in a report on Wednesday, January 9th. Morgan Stanley dropped their target price on shares of Prudential Financial from $122.00 to $120.00 and set an “equal weight” rating for the company in a report on Thursday, November 8th. Zacks Investment Research cut shares of Prudential Financial from a “buy” rating to a “hold” rating in a report on Wednesday, November 14th. Wells Fargo & Co started coverage on shares of Prudential Financial in a report on Tuesday, January 8th. They issued an “outperform” rating and a $105.00 target price for the company. Finally, Evercore ISI raised shares of Prudential Financial from an “in-line” rating to an “outperform” rating and set a $85.50 target price for the company in a report on Wednesday, January 9th. Two analysts have rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Prudential Financial has a consensus rating of “Buy” and a consensus target price of $114.19.

Shares of Prudential Financial stock opened at $91.50 on Monday. Prudential Financial has a 12-month low of $75.61 and a 12-month high of $113.03. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.11 and a quick ratio of 0.11. The stock has a market capitalization of $37.85 billion, a price-to-earnings ratio of 7.83, a P/E/G ratio of 0.79 and a beta of 1.41.

Prudential Financial (NYSE:PRU) last issued its earnings results on Wednesday, February 6th. The financial services provider reported $2.44 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.88 by ($0.44). Prudential Financial had a net margin of 7.01% and a return on equity of 10.20%. The company had revenue of $17.78 billion during the quarter, compared to analysts’ expectations of $14.03 billion. During the same period last year, the business posted $2.69 earnings per share.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 14th. Stockholders of record on Wednesday, February 20th will be paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 4.37%. This is a boost from Prudential Financial’s previous quarterly dividend of $0.90. The ex-dividend date is Tuesday, February 19th. Prudential Financial’s dividend payout ratio (DPR) is 30.80%.

Several institutional investors and hedge funds have recently modified their holdings of PRU. Old North State Trust LLC increased its stake in shares of Prudential Financial by 46.5% during the 4th quarter. Old North State Trust LLC now owns 438 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 139 shares in the last quarter. Baldwin Brothers Inc. MA increased its stake in shares of Prudential Financial by 146.7% during the 4th quarter. Baldwin Brothers Inc. MA now owns 454 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 270 shares in the last quarter. Enlightenment Research LLC purchased a new position in shares of Prudential Financial during the 4th quarter worth approximately $41,000. Citizens Financial Group Inc RI purchased a new position in shares of Prudential Financial during the 4th quarter worth approximately $46,000. Finally, TCI Wealth Advisors Inc. increased its stake in shares of Prudential Financial by 39.7% during the 4th quarter. TCI Wealth Advisors Inc. now owns 676 shares of the financial services provider’s stock worth $55,000 after purchasing an additional 192 shares in the last quarter. 66.23% of the stock is owned by institutional investors and hedge funds.

About Prudential Financial

Prudential Financial, Inc, through its subsidiaries, provides insurance, investment management, and other financial products and services in the United States and internationally. It operates through U.S. Individual Solutions, U.S. Workplace Solutions, Investment Management, and International Insurance divisions.

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