Prudential Financial (NYSE:PRU) Issues Quarterly Earnings Results, Misses Estimates By $0.05 EPS

Prudential Financial (NYSE:PRU) released its earnings results on Tuesday. The financial services provider reported $3.30 earnings per share for the quarter, missing analysts’ consensus estimates of $3.35 by ($0.05), Zacks reports. Prudential Financial had a net margin of 4.65% and a return on equity of 16.60%. The company had revenue of $14.52 billion during the quarter, compared to analysts’ expectations of $14.48 billion.

Prudential Financial Stock Down 4.2%

Shares of Prudential Financial stock traded down $4.68 during midday trading on Tuesday, hitting $107.04. The company had a trading volume of 4,569,332 shares, compared to its average volume of 1,970,807. Prudential Financial has a 52-week low of $90.38 and a 52-week high of $119.76. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.16 and a current ratio of 0.16. The stock has a market capitalization of $37.46 billion, a P/E ratio of 14.70, a P/E/G ratio of 1.23 and a beta of 0.97. The company has a 50 day moving average of $112.86 and a 200 day moving average of $107.45.

Insider Buying and Selling

In related news, Chairman Charles F. Lowrey sold 48,164 shares of the business’s stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $107.39, for a total value of $5,172,331.96. Following the completion of the transaction, the chairman directly owned 165,564 shares in the company, valued at $17,779,917.96. The trade was a 22.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Timothy L. Schmidt sold 8,000 shares of Prudential Financial stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $107.69, for a total value of $861,520.00. Following the completion of the sale, the senior vice president directly owned 11,535 shares of the company’s stock, valued at approximately $1,242,204.15. The trade was a 40.95% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 62,719 shares of company stock worth $6,796,067 in the last 90 days. 0.25% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wealth Watch Advisors INC bought a new stake in Prudential Financial in the 3rd quarter worth approximately $30,000. Darwin Wealth Management LLC bought a new position in Prudential Financial in the second quarter worth approximately $36,000. Triumph Capital Management bought a new stake in shares of Prudential Financial during the 3rd quarter valued at $75,000. MUFG Securities EMEA plc purchased a new stake in shares of Prudential Financial in the 2nd quarter worth $112,000. Finally, Chesapeake Capital Corp IL bought a new position in Prudential Financial in the 3rd quarter worth $221,000. Institutional investors own 56.83% of the company’s stock.

Analyst Ratings Changes

PRU has been the subject of a number of analyst reports. Morgan Stanley raised their price objective on shares of Prudential Financial from $117.00 to $118.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 7th. Barclays dropped their price target on Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 8th. Mizuho began coverage on shares of Prudential Financial in a report on Tuesday, December 16th. They issued a “neutral” rating and a $125.00 price objective for the company. UBS Group upped their price target on Prudential Financial from $111.00 to $116.00 and gave the company a “neutral” rating in a research report on Thursday, January 8th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Prudential Financial from $117.00 to $118.00 and gave the stock a “market perform” rating in a research report on Monday, November 3rd. One analyst has rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, Prudential Financial currently has a consensus rating of “Hold” and an average target price of $120.78.

Prudential Financial Company Profile

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential’s long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential’s core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.