Prudential Financial Inc (NYSE:PRU) Plans $1.00 Quarterly Dividend

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Prudential Financial Inc (NYSE:PRU) declared a quarterly dividend on Monday, November 11th, RTT News reports. Investors of record on Tuesday, November 26th will be paid a dividend of 1.00 per share by the financial services provider on Thursday, December 12th. This represents a $4.00 annualized dividend and a yield of 4.28%.

PRU stock traded up $1.22 during trading on Tuesday, hitting $93.47. 39,615 shares of the company’s stock traded hands, compared to its average volume of 2,109,149. The firm has a market capitalization of $37.34 billion, a P/E ratio of 8.00, a PEG ratio of 0.86 and a beta of 1.57. The business has a fifty day simple moving average of $90.12 and a two-hundred day simple moving average of $93.61. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.29. Prudential Financial has a 1 year low of $75.61 and a 1 year high of $106.39.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Monday, November 4th. The financial services provider reported $3.22 earnings per share for the quarter, topping analysts’ consensus estimates of $3.07 by $0.15. The firm had revenue of $12.93 billion for the quarter, compared to analyst estimates of $14.27 billion. Prudential Financial had a net margin of 6.67% and a return on equity of 8.45%. During the same period in the previous year, the business posted $3.15 earnings per share. On average, equities research analysts predict that Prudential Financial will post 11.95 EPS for the current fiscal year.

In other news, EVP Scott Sleyster sold 12,994 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $90.00, for a total value of $1,169,460.00. Following the sale, the executive vice president now directly owns 55,746 shares of the company’s stock, valued at approximately $5,017,140. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Charles F. Lowrey purchased 7,500 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was bought at an average cost of $83.68 per share, for a total transaction of $627,600.00. Following the completion of the transaction, the chief executive officer now owns 64,263 shares in the company, valued at $5,377,527.84. The disclosure for this purchase can be found here. Insiders have acquired a total of 13,580 shares of company stock valued at $1,137,848 over the last 90 days. 0.76% of the stock is currently owned by insiders.

PRU has been the subject of several recent research reports. Goldman Sachs Group initiated coverage on shares of Prudential Financial in a report on Tuesday, October 29th. They set a “buy” rating for the company. Royal Bank of Canada restated a “neutral” rating on shares of Prudential Financial in a report on Friday, October 18th. Credit Suisse Group restated an “outperform” rating on shares of Prudential Financial in a report on Thursday, October 17th. JPMorgan Chase & Co. dropped their target price on shares of Prudential Financial from $115.00 to $110.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Finally, Morgan Stanley dropped their target price on shares of Prudential Financial from $108.00 to $106.00 and set an “equal weight” rating for the company in a report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company. Prudential Financial currently has an average rating of “Hold” and a consensus price target of $96.81.

About Prudential Financial

Prudential Financial, Inc, through its subsidiaries, provides insurance, investment management, and other financial products and services. It operates through PGIM, U.S. Workplace Solutions, U.S. Individual Solutions, and International Insurance divisions. The PGIM division offers an array of asset management and advisory services related to public and private fixed income, public equity and real estate, commercial mortgage origination and servicing, and mutual funds and other retail services to institutional, private, and sub-advisory clients, as well as to insurance company separate accounts, government sponsored entities, and the general account.

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Dividend History for Prudential Financial (NYSE:PRU)

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