Prudential Financial, Inc. (PRU) to Distribute Quarterly Dividend of $1.40 on December 10th

Prudential Financial, Inc. (NYSE:PRU) announced a quarterly dividend on Tuesday, November 10th. Stockholders of record on Tuesday, November 24th will be given a dividend of $1.40 per share by the financial services provider on Thursday, December 10th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date is Tuesday, November 24th.

Prudential Financial has a payout ratio of 38.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Prudential Financial to earn $13.67 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 41.0%.

Prudential Financial Price Performance

Shares of PRU opened at $123.00 on Thursday. The company has a market capitalization of $42.19 billion, a P/E ratio of 11.19, a price-to-earnings-growth ratio of 1.95 and a beta of 0.85. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.66. The firm has a 50 day moving average of $117.26 and a 200 day moving average of $109.18. Prudential Financial has a twelve month low of $91.89 and a twelve month high of $128.78.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Tuesday, November 3rd. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.33 by $0.44. The business had revenue of $14.45 billion for the quarter, compared to analysts’ expectations of $14.66 billion. Prudential Financial had a return on equity of 16.38% and a net margin of 6.75%. During the same period in the prior year, the firm posted $4.26 EPS. As a group, equities research analysts anticipate that Prudential Financial will post 13.60 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently weighed in on PRU shares. JPMorgan Chase & Co. lowered their price objective on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating on the stock in a research report on Thursday, October 22nd. Zacks Research cut Prudential Financial from a “hold” rating to a “strong sell” rating in a report on Friday, October 23rd. Wall Street Zen downgraded Prudential Financial from a “buy” rating to a “hold” rating in a research note on Monday, September 28th. Evercore cut their price objective on Prudential Financial from $110.00 to $106.00 in a report on Friday, October 9th. Finally, TD Cowen reduced their price objective on Prudential Financial from $114.00 to $112.00 and set a “hold” rating for the company in a research report on Wednesday, October 21st. Two research analysts have rated the stock with a Buy rating, nine have given a Hold rating and six have issued a Sell rating to the company. According to data from MarketBeat, Prudential Financial currently has an average rating of “Reduce” and an average target price of $114.20.

Prudential Financial Company Profile

Prudential Financial, Inc. is a financial services company headquartered in Newark, New Jersey. Founded in 1875 as the Prudential Friendly Society, it has grown into a provider of insurance, retirement and investment services. The company offers life insurance, annuities, workplace benefits and retirement-related products and services. Through its asset management businesses, Prudential also serves individual and institutional investors. Prudential serves customers in the United States and operates internationally, with a significant presence in Japan and other markets.