Prudential Financial Inc (PRU) to Issue Quarterly Dividend of $0.90

Prudential Financial Inc (NYSE:PRU) declared a quarterly dividend on Wednesday, February 7th, RTT News reports. Investors of record on Wednesday, February 21st will be paid a dividend of 0.90 per share by the financial services provider on Thursday, March 15th. This represents a $3.60 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date of this dividend is Tuesday, February 20th. This is an increase from Prudential Financial’s previous quarterly dividend of $0.75.

Prudential Financial has raised its dividend by an average of 11.4% annually over the last three years and has raised its dividend every year for the last 9 years. Prudential Financial has a dividend payout ratio of 28.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Prudential Financial to earn $12.75 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 23.5%.

Prudential Financial (NYSE:PRU) opened at $109.43 on Monday. The firm has a market cap of $46,179.46, a PE ratio of 10.34, a P/E/G ratio of 1.13 and a beta of 1.50. Prudential Financial has a 12 month low of $97.88 and a 12 month high of $127.14. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.32.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Wednesday, February 7th. The financial services provider reported $2.69 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.64 by $0.05. The firm had revenue of $15.25 billion for the quarter, compared to analyst estimates of $12.87 billion. Prudential Financial had a net margin of 13.41% and a return on equity of 9.29%. During the same period last year, the company posted $2.46 EPS. equities analysts anticipate that Prudential Financial will post 12.06 earnings per share for the current fiscal year.

Prudential Financial declared that its Board of Directors has authorized a share buyback plan on Thursday, December 14th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

In other news, SVP Barbara Koster sold 16,801 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $115.17, for a total transaction of $1,934,971.17. Following the completion of the sale, the senior vice president now owns 37,327 shares in the company, valued at approximately $4,298,950.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Timothy P. Harris sold 10,527 shares of the firm’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $115.00, for a total transaction of $1,210,605.00. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by corporate insiders.

A number of brokerages recently weighed in on PRU. Sandler O’Neill reaffirmed a “buy” rating and issued a $134.00 price target on shares of Prudential Financial in a research note on Thursday, January 11th. Atlantic Securities raised shares of Prudential Financial from a “neutral” rating to an “overweight” rating in a research note on Thursday, January 11th. Zacks Investment Research raised shares of Prudential Financial from a “hold” rating to a “buy” rating and set a $132.00 price target on the stock in a research note on Monday, January 8th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $127.00 price objective on shares of Prudential Financial in a report on Thursday, December 21st. Finally, ValuEngine upgraded shares of Prudential Financial from a “buy” rating to a “strong-buy” rating in a report on Tuesday, December 5th. Six research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $119.14.

ILLEGAL ACTIVITY WARNING: This piece of content was originally posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this piece of content on another domain, it was illegally copied and republished in violation of U.S. and international trademark & copyright law. The legal version of this piece of content can be viewed at https://ledgergazette.com/2018/02/19/prudential-financial-inc-pru-to-issue-quarterly-dividend-of-0-90.html.

About Prudential Financial

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.

Dividend History for Prudential Financial (NYSE:PRU)

Receive News & Ratings for Prudential Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prudential Financial and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply