Prudential Financial, Inc. Plans Quarterly Dividend of $1.30 (NYSE:PRU)

Prudential Financial, Inc. (NYSE:PRU) declared a quarterly dividend on Tuesday, November 5th, RTT News reports. Shareholders of record on Tuesday, November 19th will be paid a dividend of 1.30 per share by the financial services provider on Thursday, December 12th. This represents a $5.20 annualized dividend and a yield of 4.33%.

Prudential Financial has raised its dividend payment by an average of 4.4% annually over the last three years and has raised its dividend annually for the last 16 consecutive years. Prudential Financial has a dividend payout ratio of 35.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Prudential Financial to earn $14.64 per share next year, which means the company should continue to be able to cover its $5.20 annual dividend with an expected future payout ratio of 35.5%.

Prudential Financial Trading Down 0.4 %

PRU traded down $0.48 during trading on Tuesday, hitting $120.18. The company’s stock had a trading volume of 1,787,582 shares, compared to its average volume of 1,484,553. Prudential Financial has a twelve month low of $89.90 and a twelve month high of $128.52. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.60. The stock’s fifty day moving average price is $121.16 and its 200-day moving average price is $118.49. The firm has a market capitalization of $42.78 billion, a P/E ratio of 10.64, a PEG ratio of 0.86 and a beta of 1.29.

Prudential Financial (NYSE:PRU) last issued its earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share for the quarter, topping analysts’ consensus estimates of $3.47 by $0.01. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. The company had revenue of $19.48 billion for the quarter, compared to analyst estimates of $14.57 billion. During the same period in the prior year, the firm earned $3.44 earnings per share. Analysts anticipate that Prudential Financial will post 13.32 EPS for the current year.

Analyst Ratings Changes

PRU has been the topic of a number of research reports. Morgan Stanley lowered their target price on Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating on the stock in a research report on Monday, August 19th. Argus upgraded Prudential Financial to a “strong-buy” rating in a research note on Thursday, August 8th. Barclays increased their price target on Prudential Financial from $118.00 to $119.00 and gave the stock an “equal weight” rating in a research note on Friday. Bank of America increased their price target on Prudential Financial from $109.00 to $118.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $121.00 price target on shares of Prudential Financial in a research note on Wednesday, August 21st. One analyst has rated the stock with a sell rating, eleven have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Prudential Financial has a consensus rating of “Hold” and an average price target of $123.85.

Insider Buying and Selling at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential purchased 261,059 shares of the stock in a transaction on Tuesday, October 8th. The shares were purchased at an average price of $27.58 per share, with a total value 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. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Caroline Feeney sold 1,110 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total transaction of $133,166.70. Following the transaction, the executive vice president now directly owns 10,175 shares in the company, valued at $1,220,694.75. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Insurance Co Of Ame Prudential acquired 261,059 shares of the business’s stock in a transaction dated Tuesday, October 8th. The stock was 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 owns 4,208,549 shares in the company, valued at approximately $116,071,781.42. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.34% 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.