Prudential Financial, Inc. (NYSE:PRU) announced a quarterly dividend on Tuesday, August 8th, RTT News reports. Investors of record on Tuesday, August 22nd will be given a dividend of 0.75 per share by the financial services provider on Thursday, September 14th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date is Friday, August 18th.
Prudential Financial has increased its dividend payment by an average of 17.4% annually over the last three years and has raised its dividend annually for the last 8 consecutive years. Prudential Financial has a dividend payout ratio of 29.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Prudential Financial to earn $11.20 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 26.8%.
Prudential Financial (PRU) traded up 0.04% during midday trading on Friday, hitting $101.95. The company had a trading volume of 3,523,224 shares. The firm has a market capitalization of $43.53 billion, a P/E ratio of 11.38 and a beta of 1.50. Prudential Financial has a 1-year low of $75.50 and a 1-year high of $115.26. The company has a 50 day moving average price of $110.29 and a 200 day moving average price of $108.05.
Prudential Financial (NYSE:PRU) last posted its earnings results on Wednesday, August 2nd. The financial services provider reported $2.09 earnings per share for the quarter, missing the Thomson Reuters’ 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 company had revenue of $13.03 billion during the quarter, compared to analyst estimates of $12.45 billion. During the same quarter last year, the business posted $1.84 EPS. Equities research analysts forecast that Prudential Financial will post $10.18 earnings per share for the current fiscal year.
Several analysts recently weighed in on PRU shares. ValuEngine upgraded shares of Prudential Financial from a “buy” rating to a “strong-buy” rating in a report on Friday, June 2nd. Credit Suisse Group reiterated a “hold” rating and issued a $121.00 target price on shares of Prudential Financial in a report on Thursday, April 27th. BidaskClub downgraded shares of Prudential Financial from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. Wells Fargo & Company reiterated a “hold” rating on shares of Prudential Financial in a report on Thursday, August 3rd. Finally, Royal Bank Of Canada restated a “hold” rating and issued a $113.00 price target on shares of Prudential Financial in a research note on Tuesday, June 27th. Ten equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $111.21.
In related news, insider Nicholas C. Silitch sold 14,897 shares of the business’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $110.00, for a total transaction of $1,638,670.00. Following the completion of the transaction, the insider now owns 21,274 shares in the company, valued at $2,340,140. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman John R. Strangfeld, Jr. sold 201,585 shares of the business’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $110.00, for a total transaction of $22,174,350.00. Following the transaction, the chairman now owns 456,121 shares of the company’s stock, valued at approximately $50,173,310. The disclosure for this sale can be found here. In the last quarter, insiders have sold 220,615 shares of company stock valued at $24,276,660. Insiders own 0.66% of the company’s stock.
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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