Prudential Financial, Inc. (PRU) To Go Ex-Dividend on May 20th

Prudential Financial, Inc. (NYSE:PRUGet Free Report) declared a quarterly dividend on Tuesday, May 7th, RTT News reports. Stockholders of record on Tuesday, May 21st will be given 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 4.29%. The ex-dividend date of this dividend is Monday, May 20th.

Prudential Financial has raised its dividend payment by an average of 4.4% per year over the last three years and has increased its dividend every year for the last 16 years. Prudential Financial has a payout ratio of 35.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Prudential Financial to earn $14.52 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 35.8%.

Prudential Financial Stock Performance

PRU opened at $121.31 on Friday. 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 company has a market capitalization of $43.55 billion, a PE ratio of 20.63, a price-to-earnings-growth ratio of 0.90 and a beta of 1.35. The business has a fifty day simple moving average of $114.05 and a 200 day simple moving average of $106.20. Prudential Financial has a 1 year low of $78.40 and a 1 year high of $121.39.

Prudential Financial (NYSE:PRUGet Free Report) last released its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $3.12 EPS for the quarter, missing the consensus estimate of $3.16 by ($0.04). Prudential Financial had a net margin of 3.76% and a return on equity of 15.50%. The business had revenue of $15.01 billion during the quarter, compared to analyst estimates of $14.50 billion. The company’s revenue was up 69.9% on a year-over-year basis. During the same quarter last year, the company posted $2.66 earnings per share. Research analysts expect that Prudential Financial will post 13.42 EPS for the current year.

Insider Activity at Prudential Financial

In other Prudential Financial news, EVP Ann M. Kappler sold 7,222 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $108.39, for a total transaction of $782,792.58. Following the sale, the executive vice president now owns 24,381 shares of the company’s stock, valued at $2,642,656.59. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Ann M. Kappler sold 7,222 shares of Prudential Financial stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $108.39, for a total transaction of $782,792.58. Following the sale, the executive vice president now directly owns 24,381 shares of the company’s stock, valued at $2,642,656.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Timothy L. Schmidt sold 7,912 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $108.13, for a total value of $855,524.56. Following the completion of the transaction, the senior vice president now directly owns 14,754 shares of the company’s stock, valued at approximately $1,595,350.02. The disclosure for this sale can be found here. Insiders sold a total of 164,536 shares of company stock valued at $19,245,606 in the last quarter. Insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

PRU has been the subject of a number of analyst reports. Raymond James downgraded shares of Prudential Financial from a “strong-buy” rating to a “market perform” rating in a research report on Friday, February 9th. Morgan Stanley upped their target price 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. TheStreet upgraded Prudential Financial from a “c+” rating to an “a-” rating in a research report on Tuesday, February 6th. Keefe, Bruyette & Woods upped their price objective on shares of Prudential Financial from $112.00 to $118.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 10th. Finally, Wells Fargo & Company raised their target price on shares of Prudential Financial from $100.00 to $106.00 and gave the company an “underweight” rating in a report on Thursday, April 11th. Two investment analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $111.08.

Check Out Our Latest Report on Prudential Financial

About Prudential Financial

(Get Free Report)

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.

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Dividend History for Prudential Financial (NYSE:PRU)

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