Prudential Financial, Inc. (NYSE:PRU) to Post FY2024 Earnings of $13.27 Per Share, Zacks Research Forecasts

Prudential Financial, Inc. (NYSE:PRU - Free Report) - Research analysts at Zacks Research decreased their FY2024 earnings per share estimates for Prudential Financial in a note issued to investors on Tuesday, May 21st. Zacks Research analyst T. De now expects that the financial services provider will earn $13.27 per share for the year, down from their previous estimate of $13.34. The consensus estimate for Prudential Financial's current full-year earnings is $13.42 per share. Zacks Research also issued estimates for Prudential Financial's Q4 2024 earnings at $3.29 EPS, Q2 2025 earnings at $3.68 EPS, Q3 2025 earnings at $3.61 EPS and FY2025 earnings at $14.23 EPS.

Prudential Financial (NYSE:PRU - Get Free Report) last announced its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $3.12 earnings per share for the quarter, missing analysts' consensus estimates of $3.16 by ($0.04). Prudential Financial had a net margin of 3.76% and a return on equity of 15.50%. The firm had revenue of $15.01 billion during the quarter, compared to analysts' expectations of $14.50 billion. During the same quarter in the prior year, the business earned $2.66 EPS. The company's quarterly revenue was up 69.9% compared to the same quarter last year.

A number of other research firms have also commented on PRU. Jefferies Financial Group raised Prudential Financial from a "hold" rating to a "buy" rating and increased their price objective for the company from $121.00 to $143.00 in a research note on Wednesday. Raymond James lowered Prudential Financial from a "strong-buy" rating to a "market perform" rating in a research note on Friday, February 9th. Piper Sandler decreased their price objective on Prudential Financial from $125.00 to $121.00 and set a "neutral" rating on the stock in a research note on Monday, May 6th. Evercore ISI lifted their price objective on Prudential Financial from $115.00 to $116.00 and gave the company an "underperform" rating in a research note on Thursday, April 25th. Finally, UBS Group raised their target price on Prudential Financial from $108.00 to $112.00 and gave the company a "neutral" rating in a report on Monday, February 12th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $115.25.

Prudential Financial Price Performance

Shares of PRU stock traded down $1.64 during mid-day trading on Thursday, reaching $117.85. The stock had a trading volume of 1,336,917 shares, compared to its average volume of 1,504,358. Prudential Financial has a 12-month low of $78.40 and a 12-month high of $121.39. The company has a market cap of $42.31 billion, a P/E ratio of 20.32, a price-to-earnings-growth ratio of 0.88 and a beta of 1.35. The business has a 50-day simple moving average of $114.43 and a 200 day simple moving average of $106.85. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.67.

Institutional Trading of Prudential Financial

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its position in Prudential Financial by 13.9% in the 4th quarter. Vanguard Group Inc. now owns 42,292,853 shares of the financial services provider's stock valued at $4,386,192,000 after purchasing an additional 5,154,865 shares during the last quarter. International Assets Investment Management LLC raised its position in Prudential Financial by 9,281.4% in the 4th quarter. International Assets Investment Management LLC now owns 1,368,839 shares of the financial services provider's stock valued at $141,962,000 after purchasing an additional 1,354,248 shares during the last quarter. Norges Bank bought a new position in Prudential Financial in the 4th quarter valued at $113,478,000. Dimensional Fund Advisors LP raised its position in Prudential Financial by 10.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,000,665 shares of the financial services provider's stock valued at $414,926,000 after purchasing an additional 388,363 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. bought a new position in Prudential Financial in the 3rd quarter valued at $34,251,000. Institutional investors own 56.83% of the company's stock.

Insider Activity

In other news, SVP Timothy L. Schmidt sold 5,189 shares of the company's stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $116.58, for a total value of $604,933.62. Following the completion of the sale, the senior vice president now owns 12,236 shares in the company, valued at $1,426,472.88. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Prudential Financial news, SVP Timothy L. Schmidt sold 5,189 shares of the firm's stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $116.58, for a total value of $604,933.62. Following the sale, the senior vice president now owns 12,236 shares of the company's stock, valued at approximately $1,426,472.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Robert Axel sold 6,436 shares of the firm's stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $111.86, for a total value of $719,930.96. Following the completion of the sale, the senior vice president now directly owns 7,901 shares in the company, valued at approximately $883,805.86. The disclosure for this sale can be found here. Insiders sold a total of 164,536 shares of company stock worth $19,245,606 over the last 90 days. 0.31% of the stock is currently owned by company insiders.

Prudential Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Tuesday, May 21st will be issued a $1.30 dividend. The ex-dividend date is Monday, May 20th. This represents a $5.20 annualized dividend and a dividend yield of 4.41%. Prudential Financial's dividend payout ratio (DPR) is 88.44%.

About Prudential Financial

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.