Fintel reports that on August 3, 2023, Piper Sandler maintained coverage of Prudential Financial (NYSE:PRU) with a Neutral recommendation.
Analyst Price Forecast Suggests 1.09% Upside
As of August 2, 2023, the average one-year price target for Prudential Financial is 96.35. The forecasts range from a low of 70.70 to a high of $127.05. The average price target represents an increase of 1.09% from its latest reported closing price of 95.31.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Prudential Financial is 53,170MM, a decrease of 17.23%. The projected annual non-GAAP EPS is 11.82.
Prudential Financial Declares $1.25 Dividend
On May 9, 2023 the company declared a regular quarterly dividend of $1.25 per share ($5.00 annualized). Shareholders of record as of May 23, 2023 received the payment on June 15, 2023. Previously, the company paid $1.25 per share.
At the current share price of $95.31 / share, the stock's dividend yield is 5.25%.
Looking back five years and taking a sample every week, the average dividend yield has been 4.99%, the lowest has been 3.40%, and the highest has been 11.22%. The standard deviation of yields is 1.18 (n=234).
The current dividend yield is 0.22 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.90. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.14%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 1842 funds or institutions reporting positions in Prudential Financial. This is a decrease of 22 owner(s) or 1.18% in the last quarter. Average portfolio weight of all funds dedicated to PRU is 0.19%, a decrease of 24.02%. Total shares owned by institutions decreased in the last three months by 2.70% to 217,658K shares. 
The put/call ratio of PRU is 1.14, indicating a bearish outlook.
What are Other Shareholders Doing?
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 11,328K shares representing 3.10% ownership of the company. In it's prior filing, the firm reported owning 11,179K shares, representing an increase of 1.32%. The firm decreased its portfolio allocation in PRU by 22.16% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 8,587K shares representing 2.35% ownership of the company. In it's prior filing, the firm reported owning 8,507K shares, representing an increase of 0.93%. The firm decreased its portfolio allocation in PRU by 22.13% over the last quarter.
Geode Capital Management holds 7,614K shares representing 2.08% ownership of the company. In it's prior filing, the firm reported owning 7,503K shares, representing an increase of 1.46%. The firm decreased its portfolio allocation in PRU by 22.01% over the last quarter.
SCHD - Schwab U.S. Dividend Equity ETF holds 6,190K shares representing 1.69% ownership of the company. In it's prior filing, the firm reported owning 5,545K shares, representing an increase of 10.43%. The firm decreased its portfolio allocation in PRU by 0.63% over the last quarter.
Northern Trust holds 4,268K shares representing 1.17% ownership of the company. In it's prior filing, the firm reported owning 4,238K shares, representing an increase of 0.72%. The firm decreased its portfolio allocation in PRU by 20.84% over the last quarter.
Prudential Financial Background Information
(This description is provided by the company.)
Prudential Financial, Inc., a financial wellness leader and premier active global investment manager with more than $1.5 trillion in assets under management as of June 30, 2020, has operations in the United States, Asia, Europe, and Latin America. Prudential's diverse and talented employees help to make lives better by creating financial opportunity for more people. Prudential's iconic Rock symbol has stood for strength, stability, expertise and innovation for more than a century.
Additional reading:
- Prudential Financial, Inc. Clawback Policy Effective June 13, 2023
- Prudential Financial, Inc. Announces Second Quarter 2023 Results
- Prudential Financial, Inc. (PRU) Quarterly Financial Supplement Second Quarter 2023 Reference is made to Prudential Financial, Inc.'s (PFI) filings with the Securities and Exchange Commission for general information and consolidated financial informa
- AMENDMENT NO. 1 TO THIRD AMENDED AND RESTATED CREDIT AGREEMENT
- Prudential Financial, Inc. Announces First Quarter 2023 Results
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
