Prudential Financial, Inc. (NYSE:PRU) Raises Dividend to $1.40 Per Share

Prudential Financial, Inc. (NYSE:PRU) announced a quarterly dividend on Tuesday, February 3rd. Investors of record on Tuesday, February 17th will be paid a dividend of 1.40 per share by the financial services provider on Thursday, March 12th. This represents a c) dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date of this dividend is Tuesday, February 17th. This is a 3.7% increase from Prudential Financial’s previous quarterly dividend of $1.35.

Prudential Financial has raised its dividend by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 2 years. Prudential Financial has a payout ratio of 36.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Prudential Financial to earn $15.25 per share next year, which means the company should continue to be able to cover its $5.40 annual dividend with an expected future payout ratio of 35.4%.

Prudential Financial Trading Down 4.7%

Prudential Financial stock traded down $5.05 during midday trading on Wednesday, hitting $102.13. 2,995,954 shares of the stock were exchanged, compared to its average volume of 2,001,943. The stock’s 50-day simple moving average is $112.84 and its 200 day simple moving average is $107.48. Prudential Financial has a fifty-two week low of $90.38 and a fifty-two week high of $119.76. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $35.75 billion, a price-to-earnings ratio of 13.95, a PEG ratio of 1.24 and a beta of 0.97.

Prudential Financial (NYSE:PRU) last posted its earnings results on Tuesday, February 3rd. The financial services provider reported $3.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.37 by ($0.07). Prudential Financial had a return on equity of 16.60% and a net margin of 4.65%.The business had revenue of $14.52 billion for the quarter, compared to analyst estimates of $14.48 billion. During the same period last year, the business earned $2.96 EPS. On average, equities analysts anticipate that Prudential Financial will post 14.36 EPS for the current year.

About Prudential Financial

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.