Prudential Financial Inc (NYSE:PRU) announced a quarterly dividend on Wednesday, February 6th, NASDAQ reports. Shareholders of record on Wednesday, February 20th will be given a dividend of 1.00 per share by the financial services provider on Thursday, March 14th. This represents a $4.00 annualized dividend and a yield of 4.25%. The ex-dividend date of this dividend is Tuesday, February 19th. This is a boost from Prudential Financial’s previous quarterly dividend of $0.90.
Prudential Financial has increased its dividend payment by an average of 13.8% per year over the last three years and has increased its dividend annually for the last 10 consecutive years. Prudential Financial has a payout ratio of 32.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Prudential Financial to earn $13.80 per share next year, which means the company should continue to be able to cover its $4.00 annual dividend with an expected future payout ratio of 29.0%.
Shares of NYSE PRU opened at $94.15 on Monday. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.35. Prudential Financial has a 12 month low of $75.61 and a 12 month high of $111.18. The company has a market cap of $38.88 billion, a price-to-earnings ratio of 8.05, a price-to-earnings-growth ratio of 0.81 and a beta of 1.41.
PRU has been the subject of several analyst reports. Morgan Stanley decreased their target price on shares of Prudential Financial from $122.00 to $120.00 and set an “equal weight” rating for the company in a research note on Thursday, November 8th. ValuEngine lowered shares of Prudential Financial from a “sell” rating to a “strong sell” rating in a report on Friday, November 16th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $113.00 price target on shares of Prudential Financial in a report on Wednesday, January 9th. Zacks Investment Research lowered shares of Prudential Financial from a “hold” rating to a “sell” rating in a report on Monday, January 7th. Finally, Evercore ISI raised shares of Prudential Financial from an “in-line” rating to an “outperform” rating and set a $85.50 price target for the company in a report on Wednesday, January 9th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $114.19.
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Prudential Financial Company Profile
Prudential Financial, Inc, through its subsidiaries, provides insurance, investment management, and other financial products and services in the United States and internationally. It operates through U.S. Individual Solutions, U.S. Workplace Solutions, Investment Management, and International Insurance divisions.
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