Prudential Financial, Inc. Announces Quarterly Dividend of $0.75 (NYSE:PRU)
Prudential Financial, Inc. (NYSE:PRU) announced a quarterly dividend on Tuesday, August 8th, RTT News reports. Shareholders of record on Tuesday, August 22nd will be paid a dividend of 0.75 per share by the financial services provider on Thursday, September 14th. This represents a $3.00 annualized dividend and a yield of 2.69%.
Prudential Financial has increased its dividend payment by an average of 17.4% annually over the last three years and has increased its dividend every year for the last 8 years. Prudential Financial has a dividend payout ratio of 29.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Prudential Financial to earn $11.17 per share next year, which means the company should continue to be able to cover its $3.00 annual dividend with an expected future payout ratio of 26.9%.
Shares of Prudential Financial (NYSE PRU) traded down 0.19% during mid-day trading on Tuesday, reaching $111.48. 1,337,113 shares of the company’s stock traded hands. The stock has a market capitalization of $47.94 billion, a PE ratio of 12.20 and a beta of 1.50. Prudential Financial has a 12-month low of $74.85 and a 12-month high of $115.26. The company’s 50-day moving average price is $110.05 and its 200-day moving average price is $107.97.
Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $2.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.70 by $0.61. Prudential Financial had a net margin of 7.15% and a return on equity of 8.98%. The business had revenue of $13.03 billion for the quarter, compared to analysts’ expectations of $12.45 billion. During the same period in the prior year, the company posted $1.84 EPS. Analysts anticipate that Prudential Financial will post $10.33 earnings per share for the current year.
In other news, Chairman John R. Strangfeld, Jr. sold 201,585 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $110.00, for a total value of $22,174,350.00. Following the transaction, the chairman now directly owns 456,121 shares in the company, valued at approximately $50,173,310. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.66% of the company’s stock.
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Several equities analysts have weighed in on PRU shares. Deutsche Bank AG boosted their target price on shares of Prudential Financial from $114.00 to $117.00 and gave the company a “buy” rating in a report on Wednesday, April 19th. Wells Fargo & Company reiterated a “hold” rating on shares of Prudential Financial in a report on Thursday, August 3rd. BidaskClub upgraded shares of Prudential Financial from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. ValuEngine upgraded shares of Prudential Financial from a “buy” rating to a “strong-buy” rating in a report on Friday, June 2nd. Finally, Zacks Investment Research lowered shares of Prudential Financial from a “buy” rating to a “hold” rating in a report on Wednesday, June 14th. Nine research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $111.21.
Prudential Financial Company Profile
Prudential Financial, Inc, is a financial services company. The Company, through its subsidiaries, offers a range of financial products and services, which includes life insurance, annuities, retirement-related services, mutual funds and investment management. The Company’s operations consists of four divisions, which together encompass seven segments.
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