Prudential Financial, Inc. (PRU) To Go Ex-Dividend on November 19th

Prudential Financial, Inc. (NYSE:PRU) declared a quarterly dividend on Tuesday, November 5th, RTT News reports. Shareholders of record on Tuesday, November 19th will be paid a dividend of 1.30 per share by the financial services provider on Thursday, December 12th. This represents a $5.20 dividend on an annualized basis and a yield of 4.07%. The ex-dividend date of this dividend is Tuesday, November 19th.

Prudential Financial has increased its dividend payment by an average of 4.4% per year over the last three years and has raised its dividend every year for the last 16 years. Prudential Financial has a payout ratio of 35.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Prudential Financial to earn $14.64 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 35.5%.

Prudential Financial Stock Performance

NYSE:PRU opened at $127.73 on Thursday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.14 and a current ratio of 0.14. Prudential Financial has a fifty-two week low of $89.90 and a fifty-two week high of $129.13. The business has a 50 day moving average price of $121.38 and a 200-day moving average price of $118.62. The firm has a market cap of $45.47 billion, a PE ratio of 11.35, a price-to-earnings-growth ratio of 0.86 and a beta of 1.29.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.47 by $0.01. The business had revenue of $19.48 billion for the quarter, compared to analyst estimates of $14.57 billion. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. During the same quarter last year, the firm earned $3.44 EPS. Equities research analysts predict that Prudential Financial will post 13.32 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Citigroup upped their price target on Prudential Financial from $104.00 to $120.00 and gave the company a “neutral” rating in a research report on Tuesday, July 23rd. UBS Group raised their price target on Prudential Financial from $112.00 to $119.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. Barclays boosted their price objective on shares of Prudential Financial from $118.00 to $119.00 and gave the company an “equal weight” rating in a research report on Friday, November 1st. Bank of America raised their target price on shares of Prudential Financial from $109.00 to $118.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $121.00 price target on shares of Prudential Financial in a research report on Wednesday, August 21st. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $123.85.

Insider Transactions at Prudential Financial

In other Prudential Financial news, EVP Ann M. Kappler sold 2,839 shares of Prudential Financial stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $113.43, for a total transaction of $322,027.77. Following the completion of the transaction, the executive vice president now owns 14,535 shares in the company, valued at approximately $1,648,705.05. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, major shareholder Insurance Co Of Ame Prudential purchased 261,059 shares of the business’s stock in a transaction dated Tuesday, October 8th. The shares were purchased at an average price of $27.58 per share, for a total transaction of $7,200,007.22. Following the completion of the acquisition, the insider now directly owns 4,208,549 shares in the company, valued at $116,071,781.42. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Ann M. Kappler sold 2,839 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $113.43, for a total transaction of $322,027.77. Following the completion of the transaction, the executive vice president now owns 14,535 shares of the company’s stock, valued at approximately $1,648,705.05. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

Prudential Financial Company Profile

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.