Prudential Financial, Inc. (NYSE:PRU) to Issue Dividend Increase – $1.40 Per Share

Prudential Financial, Inc. (NYSE:PRU) announced a quarterly dividend on Tuesday, February 3rd. Shareholders of record on Tuesday, February 17th will be paid a dividend of 1.40 per share by the financial services provider on Thursday, March 12th. This represents a c) annualized dividend and a dividend yield of 5.5%. The ex-dividend date of this dividend is Tuesday, February 17th. This is a 3.7% increase from Prudential Financial’s previous quarterly dividend of $1.35.

Prudential Financial has raised its dividend by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 2 years. Prudential Financial has a payout ratio of 36.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Prudential Financial to earn $15.25 per share next year, which means the company should continue to be able to cover its $5.40 annual dividend with an expected future payout ratio of 35.4%.

Prudential Financial Price Performance

Prudential Financial stock traded down $4.89 during mid-day trading on Wednesday, reaching $102.29. The company had a trading volume of 1,287,219 shares, compared to its average volume of 1,943,793. Prudential Financial has a 1 year low of $90.38 and a 1 year high of $119.76. The company has a market capitalization of $35.80 billion, a P/E ratio of 14.05, a P/E/G ratio of 1.24 and a beta of 0.97. The stock’s 50-day simple moving average is $112.84 and its 200-day simple moving average is $107.48. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.16 and a quick ratio of 0.16.

Prudential Financial (NYSE:PRU) last issued its earnings results on Tuesday, February 3rd. The financial services provider reported $3.30 earnings per share for the quarter, missing analysts’ consensus estimates of $3.37 by ($0.07). Prudential Financial had a net margin of 4.65% and a return on equity of 16.60%. The firm had revenue of $14.52 billion during the quarter, compared to analyst estimates of $14.48 billion. During the same quarter in the previous year, the business posted $2.96 EPS. On average, equities analysts predict that Prudential Financial will post 14.36 EPS for the current year.

Insider Transactions at Prudential Financial

In other Prudential Financial news, Chairman Charles F. Lowrey sold 48,164 shares of the company’s stock in a transaction on Monday, November 10th. The shares were sold at an average price of $107.39, for a total transaction of $5,172,331.96. Following the transaction, the chairman owned 165,564 shares in the company, valued at approximately $17,779,917.96. This represents a 22.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential purchased 1,406,739 shares of the company’s stock in a transaction that occurred on Friday, January 23rd. The stock was acquired at an average cost of $24.87 per share, for a total transaction of $34,985,598.93. Following the transaction, the insider owned 7,709,624 shares in the company, valued at $191,738,348.88. This represents a 22.32% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have sold 62,719 shares of company stock worth $6,796,067. Insiders own 0.25% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Brighton Jones LLC grew its holdings in Prudential Financial by 3.7% during the 4th quarter. Brighton Jones LLC now owns 3,681 shares of the financial services provider’s stock valued at $436,000 after buying an additional 133 shares in the last quarter. Empowered Funds LLC lifted its stake in Prudential Financial by 30.5% during the first quarter. Empowered Funds LLC now owns 17,690 shares of the financial services provider’s stock worth $1,976,000 after purchasing an additional 4,134 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Prudential Financial by 7.7% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 44,722 shares of the financial services provider’s stock worth $4,805,000 after purchasing an additional 3,200 shares in the last quarter. Wealthcare Advisory Partners LLC increased its position in shares of Prudential Financial by 4.8% during the 2nd quarter. Wealthcare Advisory Partners LLC now owns 4,546 shares of the financial services provider’s stock valued at $488,000 after purchasing an additional 207 shares during the last quarter. Finally, Valeo Financial Advisors LLC lifted its position in Prudential Financial by 65.0% in the 2nd quarter. Valeo Financial Advisors LLC now owns 8,642 shares of the financial services provider’s stock worth $929,000 after buying an additional 3,403 shares during the last quarter. Institutional investors own 56.83% of the company’s stock.

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.