Prudential Financial, Inc. (PRU) to Issue Quarterly Dividend of $1.40 on June 11th

Prudential Financial, Inc. (NYSE:PRU) announced a quarterly dividend on Tuesday, May 12th. Investors of record on Tuesday, May 26th will be given a dividend of 1.40 per share by the financial services provider on Thursday, June 11th. This represents a c) annualized dividend and a dividend yield of 5.5%. The ex-dividend date is Tuesday, May 26th.

Prudential Financial has increased its dividend payment by an average of 0.0%per year over the last three years and has raised its dividend annually for the last 2 consecutive years. Prudential Financial has a payout ratio of 38.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Prudential Financial to earn $14.87 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 37.7%.

Prudential Financial Price Performance

PRU stock opened at $102.44 on Thursday. The business has a fifty day moving average of $96.98 and a two-hundred day moving average of $104.56. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.58. The stock has a market cap of $35.55 billion, a price-to-earnings ratio of 10.54, a price-to-earnings-growth ratio of 1.85 and a beta of 0.86. Prudential Financial has a 52-week low of $91.89 and a 52-week high of $119.76.

Prudential Financial (NYSE:PRU) last posted its earnings results on Tuesday, May 5th. The financial services provider reported $3.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.09 by $0.52. The company had revenue of $15.23 billion during the quarter, compared to analysts’ expectations of $14.10 billion. Prudential Financial had a return on equity of 16.33% and a net margin of 5.83%.During the same quarter last year, the firm earned $3.29 earnings per share. As a group, research analysts anticipate that Prudential Financial will post 13.72 earnings per share for the current year.

Insider Buying and Selling at Prudential Financial

In other news, Director Thomas D. Stoddard acquired 250 shares of the company’s stock in a transaction dated Tuesday, February 17th. The stock was acquired at an average cost of $102.97 per share, with a total value of $25,742.50. Following the completion of the purchase, the director owned 250 shares of the company’s stock, valued at $25,742.50. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.05% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Sei Investments Co. boosted its holdings in Prudential Financial by 81.8% in the first quarter. Sei Investments Co. now owns 446,647 shares of the financial services provider’s stock valued at $43,634,000 after purchasing an additional 200,947 shares during the period. State of Wyoming boosted its holdings in Prudential Financial by 11.9% in the first quarter. State of Wyoming now owns 4,265 shares of the financial services provider’s stock valued at $417,000 after purchasing an additional 454 shares during the period. Cetera Investment Advisers boosted its holdings in Prudential Financial by 3.2% in the first quarter. Cetera Investment Advisers now owns 225,939 shares of the financial services provider’s stock valued at $22,072,000 after purchasing an additional 7,082 shares during the period. Arvest Bank Trust Division boosted its holdings in Prudential Financial by 1.2% in the first quarter. Arvest Bank Trust Division now owns 21,323 shares of the financial services provider’s stock valued at $2,083,000 after purchasing an additional 261 shares during the period. Finally, CI Investments Inc. boosted its holdings in Prudential Financial by 19.0% in the first quarter. CI Investments Inc. now owns 55,039 shares of the financial services provider’s stock valued at $5,377,000 after purchasing an additional 8,799 shares during the period. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

About Prudential Financial

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential’s long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential’s core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.