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

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 given a dividend of 1.30 per share by the financial services provider on Thursday, December 12th. This represents a $5.20 dividend on an annualized basis and a yield of 4.33%.

Prudential Financial has increased its dividend by an average of 4.4% per year 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 %

Shares of NYSE:PRU traded down $0.48 during mid-day trading on Tuesday, reaching $120.18. The stock had a trading volume of 1,787,582 shares, compared to its average volume of 1,484,553. The firm has a market cap of $42.78 billion, a PE ratio of 10.64, a price-to-earnings-growth ratio of 0.86 and a beta of 1.29. The firm has a 50 day simple moving average of $121.16 and a two-hundred day simple moving average of $118.49. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.60. Prudential Financial has a twelve month low of $89.90 and a twelve month high of $128.52.

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, beating analysts’ consensus estimates of $3.47 by $0.01. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. The business had revenue of $19.48 billion for the quarter, compared to the consensus estimate of $14.57 billion. During the same period last year, the company posted $3.44 EPS. On average, research analysts predict that Prudential Financial will post 13.32 EPS for the current fiscal year.

Insider Transactions at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential purchased 261,059 shares of the company’s stock in a transaction that occurred on Tuesday, October 8th. The stock was acquired at an average price of $27.58 per share, with a total value of $7,200,007.22. Following the completion of the purchase, the insider now directly owns 4,208,549 shares in the company, valued at $116,071,781.42. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Ann M. Kappler sold 2,839 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $113.43, for a total transaction of $322,027.77. Following the sale, the executive vice president now directly owns 14,535 shares in the company, valued at approximately $1,648,705.05. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Insurance Co Of Ame Prudential acquired 261,059 shares of the business’s stock in a transaction that occurred on Tuesday, October 8th. The stock was bought at an average cost of $27.58 per share, for a total transaction of $7,200,007.22. Following the completion of the purchase, the insider now owns 4,208,549 shares of the company’s stock, valued at $116,071,781.42. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PRU. Wells Fargo & Company increased their target price on Prudential Financial from $116.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Tuesday. TD Cowen initiated coverage on shares of Prudential Financial in a research note on Wednesday, October 9th. They set a “hold” rating and a $130.00 price target for the company. Argus raised shares of Prudential Financial to a “strong-buy” rating in a research note on Thursday, August 8th. Morgan Stanley decreased their target price on shares of Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating for the company in a research note on Monday, August 19th. Finally, Citigroup raised their target price on shares of Prudential Financial from $104.00 to $120.00 and gave the company a “neutral” rating in a research note on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $123.85.

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.