Prudential Financial, Inc. (PRU) to Issue Quarterly Dividend of $1.30 on June 13th

Prudential Financial, Inc. (NYSE:PRU) declared a quarterly dividend on Tuesday, May 7th, RTT News reports. Stockholders of record on Tuesday, May 21st will be paid a dividend of 1.30 per share by the financial services provider on Thursday, June 13th. This represents a $5.20 annualized dividend and a dividend yield of 4.46%. The ex-dividend date is Monday, May 20th.

Prudential Financial has raised its dividend payment by an average of 4.4% annually over the last three years and has raised its dividend every year for the last 16 years. Prudential Financial has a payout ratio of 35.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Prudential Financial to earn $14.45 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 36.0%.

Prudential Financial Stock Performance

Shares of Prudential Financial stock opened at $116.72 on Thursday. The business has a 50-day simple moving average of $112.48 and a 200 day simple moving average of $104.78. Prudential Financial has a one year low of $77.87 and a one year high of $118.69. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.13 and a quick ratio of 0.13. The firm has a market capitalization of $41.90 billion, a price-to-earnings ratio of 19.85, a PEG ratio of 0.83 and a beta of 1.35.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $3.12 EPS for the quarter, missing analysts’ consensus estimates of $3.16 by ($0.04). The business had revenue of $15.01 billion for the quarter, compared to the consensus estimate of $14.50 billion. Prudential Financial had a net margin of 3.76% and a return on equity of 15.50%. The business’s revenue for the quarter was up 69.9% compared to the same quarter last year. During the same quarter last year, the firm posted $2.66 EPS. On average, research analysts anticipate that Prudential Financial will post 13.36 earnings per share for the current fiscal year.

Insider Activity at Prudential Financial

In other news, SVP Timothy L. Schmidt sold 7,912 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $108.13, for a total transaction of $855,524.56. Following the completion of the transaction, the senior vice president now directly owns 14,754 shares in the company, valued at approximately $1,595,350.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Robert Axel sold 6,436 shares of the company’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $111.86, for a total value of $719,930.96. Following the completion of the transaction, the senior vice president now directly owns 7,901 shares in the company, valued at approximately $883,805.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Timothy L. Schmidt sold 7,912 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $108.13, for a total value of $855,524.56. Following the transaction, the senior vice president now directly owns 14,754 shares in the company, valued at $1,595,350.02. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,255 shares of company stock worth $3,215,664. 0.34% of the stock is owned by company insiders.

Analyst Ratings Changes

PRU has been the subject of a number of analyst reports. Morgan Stanley increased their price target on Prudential Financial from $109.00 to $117.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Evercore ISI raised their price target on shares of Prudential Financial from $115.00 to $116.00 and gave the company an “underperform” rating in a research report on Thursday, April 25th. Wells Fargo & Company upped their price objective on shares of Prudential Financial from $100.00 to $106.00 and gave the stock an “underweight” rating in a research report on Thursday, April 11th. Keefe, Bruyette & Woods boosted their target price on Prudential Financial from $112.00 to $118.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 10th. Finally, UBS Group lifted their price target on Prudential Financial from $108.00 to $112.00 and gave the stock a “neutral” rating in a report on Monday, February 12th. Two research analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $111.08.

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.