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

Prudential Financial, Inc. (NYSE:PRU) declared a quarterly dividend on Tuesday, August 11th. Shareholders of record on Tuesday, August 25th will be given a dividend of 1.40 per share by the financial services provider on Thursday, September 10th. This represents a c) annualized dividend and a yield of 4.6%. The ex-dividend date is Tuesday, August 25th.

Prudential Financial has raised its dividend by an average of 0.0%per year over the last three years and has raised its dividend every year for the last 18 years. Prudential Financial has a payout ratio of 38.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Prudential Financial to earn $14.68 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 38.1%.

Prudential Financial Trading Down 0.1%

Shares of Prudential Financial stock traded down $0.15 during mid-day trading on Wednesday, hitting $122.17. The stock had a trading volume of 91,456 shares, compared to its average volume of 2,150,296. The firm has a 50-day moving average of $113.68 and a two-hundred day moving average of $104.87. The firm has a market cap of $42.15 billion, a P/E ratio of 11.08, a price-to-earnings-growth ratio of 2.34 and a beta of 0.84. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.62. Prudential Financial has a 12-month low of $91.89 and a 12-month high of $127.72.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $4.08 EPS for the quarter, beating the consensus estimate of $3.52 by $0.56. Prudential Financial had a net margin of 6.51% and a return on equity of 16.68%. The firm had revenue of $14.15 billion for the quarter, compared to analyst estimates of $14.36 billion. During the same quarter in the previous year, the company earned $3.58 EPS. Sell-side analysts forecast that Prudential Financial will post 14.07 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have issued reports on PRU. Jefferies Financial Group raised their target price on Prudential Financial from $105.00 to $110.00 and gave the stock a “hold” rating in a research note on Friday, July 10th. TD Cowen increased their price target on Prudential Financial from $102.00 to $114.00 and gave the stock a “hold” rating in a report on Wednesday, July 22nd. Barclays raised their price objective on Prudential Financial from $90.00 to $92.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 7th. Argus cut shares of Prudential Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, June 9th. Finally, Piper Sandler increased their target price on shares of Prudential Financial from $110.00 to $128.00 and gave the stock a “neutral” rating in a research note on Tuesday. One investment analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and five have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and an average target price of $107.62.

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.