Prudential Financial, Inc. Declares Quarterly Dividend of $1.40 (NYSE:PRU)

Prudential Financial, Inc. (NYSE:PRU) announced a quarterly dividend on Tuesday, May 12th. Investors of record on Tuesday, May 26th will be given a dividend of 1.40 per share by the financial services provider on Thursday, June 11th. This represents a c) annualized dividend and a yield of 5.5%. The ex-dividend date of this dividend is Tuesday, May 26th.

Prudential Financial has raised its dividend payment by an average of 0.0%per year over the last three years and has raised its dividend every year for the last 2 years. Prudential Financial has a dividend payout ratio of 38.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Prudential Financial to earn $14.87 per share next year, which means the company should continue to be able to cover its $5.60 annual dividend with an expected future payout ratio of 37.7%.

Prudential Financial Stock Down 0.0%

Prudential Financial stock traded down $0.01 during midday trading on Wednesday, hitting $102.57. 579,675 shares of the stock were exchanged, compared to its average volume of 2,322,709. Prudential Financial has a 1 year low of $91.89 and a 1 year high of $119.76. The firm has a market cap of $35.59 billion, a P/E ratio of 10.55, a P/E/G ratio of 1.83 and a beta of 0.86. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.16 and a quick ratio of 0.16. The company has a 50 day moving average price of $96.93 and a two-hundred day moving average price of $104.56.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $3.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.09 by $0.52. Prudential Financial had a net margin of 5.83% and a return on equity of 16.33%. The firm had revenue of $15.23 billion for the quarter, compared to the consensus estimate of $14.10 billion. During the same quarter in the previous year, the firm posted $3.29 EPS. On average, sell-side analysts predict that Prudential Financial will post 13.72 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently issued reports on PRU. Barclays lifted their price target on shares of Prudential Financial from $89.00 to $90.00 and gave the stock an “underweight” rating in a research note on Wednesday, May 6th. Keefe, Bruyette & Woods lifted their price target on shares of Prudential Financial from $100.00 to $106.00 and gave the stock a “market perform” rating in a research note on Wednesday. Wells Fargo & Company boosted their target price on shares of Prudential Financial from $93.00 to $100.00 and gave the stock an “underweight” rating in a research report on Tuesday. Evercore reissued a “negative” rating on shares of Prudential Financial in a research report on Friday, March 6th. Finally, Piper Sandler boosted their target price on shares of Prudential Financial from $99.00 to $105.00 and gave the stock a “neutral” rating in a research report on Monday. Nine analysts have rated the stock with a Hold rating and six have assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $101.50.

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.