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

Prudential Financial, Inc. (NYSE:PRU) declared a quarterly dividend on Tuesday, May 7th, RTT News reports. Investors 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 yield of 4.48%.

Prudential Financial has increased its dividend payment by an average of 4.4% per year over the last three years and has increased its dividend annually for the last 16 consecutive years. Prudential Financial has a dividend payout ratio of 35.5% meaning 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 Down 0.0 %

Shares of PRU traded down $0.05 during midday trading on Wednesday, reaching $116.18. 132,358 shares of the stock were exchanged, compared to its average volume of 1,510,382. Prudential Financial has a 52 week low of $77.87 and a 52 week high of $118.69. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $41.71 billion, a P/E ratio of 19.77, a PEG ratio of 0.83 and a beta of 1.35. The company’s 50 day moving average is $112.48 and its two-hundred day moving average is $104.78.

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

Insider Buying and Selling

In other Prudential Financial news, SVP Robert Axel sold 6,436 shares of Prudential Financial stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $111.86, for a total transaction of $719,930.96. Following the completion of the sale, the senior vice president now directly owns 7,901 shares in the company, valued at $883,805.86. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, SVP Timothy L. Schmidt sold 7,912 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $108.13, for a total transaction of $855,524.56. Following the transaction, the senior vice president now 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 is available at this link. Also, SVP Robert Axel sold 6,436 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $111.86, for a total value of $719,930.96. Following the completion of the sale, the senior vice president now directly owns 7,901 shares of the company’s stock, valued at $883,805.86. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,255 shares of company stock valued at $3,215,664. 0.34% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PRU. TheStreet raised Prudential Financial from a “c+” rating to an “a-” rating in a report on Tuesday, February 6th. UBS Group raised their price objective on Prudential Financial from $108.00 to $112.00 and gave the company a “neutral” rating in a report on Monday, February 12th. Wells Fargo & Company increased their target price on shares of Prudential Financial from $100.00 to $106.00 and gave the company an “underweight” rating in a research report on Thursday, April 11th. Piper Sandler lowered their price target on shares of Prudential Financial from $125.00 to $121.00 and set a “neutral” rating on the stock in a research report on Monday. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Prudential Financial from $112.00 to $118.00 and gave the company a “market perform” rating in a report on Wednesday, April 10th. Two research analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus 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.