Prudential Financial, Inc. (NYSE:PRU) Announces Quarterly Dividend of $1.35

Key Points

• Prudential Financial, Inc. announced a quarterly dividend of $1.35 per share, with a yield of 5.2%, to be distributed on September 11th to shareholders of record by August 19th.
• The company has a payout ratio of 36.6%, indicating its dividend is well-supported by earnings, and is expected to maintain a similar future payout ratio of 35.4% with anticipated earnings of $15.25 per share next year.
• Prudential Financial reported $3.58 EPS for the last quarter, beating analyst expectations, and has a market capitalization of $36.55 billion with a 52-week high of $130.55.

Prudential Financial, Inc. (NYSE:PRU - Get Free Report) announced a quarterly dividend on Tuesday, August 5th, RTT News reports. Shareholders of record on Tuesday, August 19th will be given a dividend of 1.35 per share by the financial services provider on Thursday, September 11th. This represents a c) annualized dividend and a yield of 5.2%.

Prudential Financial has a payout ratio of 36.6% meaning its dividend is sufficiently covered by earnings. Equities research 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 Stock Performance

NYSE:PRU traded up $1.51 during trading hours on Tuesday, hitting $103.24. 1,884,210 shares of the company were exchanged, compared to its average volume of 1,787,754. The stock has a market capitalization of $36.55 billion, a price-to-earnings ratio of 22.89, a PEG ratio of 0.93 and a beta of 1.07. Prudential Financial has a 52-week low of $90.38 and a 52-week high of $130.55. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.16 and a quick ratio of 0.16. The company's 50 day moving average price is $104.89 and its 200-day moving average price is $107.12.

Prudential Financial (NYSE:PRU - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $3.58 EPS for the quarter, beating the consensus estimate of $3.22 by $0.36. Prudential Financial had a net margin of 2.75% and a return on equity of 15.80%. The business had revenue of $13.50 billion during the quarter, compared to analysts' expectations of $13.47 billion. During the same period in the previous year, the business posted $3.39 EPS. The business's quarterly revenue was down 2.5% compared to the same quarter last year. As a group, research analysts forecast that Prudential Financial will post 14.36 earnings per share for the current year.

Insider Activity

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 1,675,978 shares of the company's stock in a transaction dated Monday, June 16th. The stock was acquired at an average price of $28.64 per share, with a total value of $48,000,009.92. Following the completion of the acquisition, the insider directly owned 3,168,461 shares of the company's stock, valued at $90,744,723.04. This represents a 112.29% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.25% of the stock is owned by insiders.

Institutional Investors Weigh In On Prudential Financial

Hedge funds have recently modified their holdings of the company. Meeder Asset Management Inc. grew its holdings in shares of Prudential Financial by 90.2% in the first quarter. Meeder Asset Management Inc. now owns 234 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 111 shares during the period. AlphaQuest LLC grew its holdings in shares of Prudential Financial by 12,250.0% in the first quarter. AlphaQuest LLC now owns 247 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 245 shares during the period. North Capital Inc. purchased a new stake in shares of Prudential Financial in the first quarter valued at about $28,000. Cheviot Value Management LLC purchased a new stake in shares of Prudential Financial in the first quarter valued at about $26,000. Finally, Clearstead Trust LLC grew its holdings in shares of Prudential Financial by 350.8% in the first quarter. Clearstead Trust LLC now owns 266 shares of the financial services provider's stock valued at $30,000 after purchasing an additional 207 shares during the period. Hedge funds and other institutional investors own 56.83% of the company's stock.

About Prudential Financial

Prudential Financial, Inc, together with its subsidiaries, provides insurance, investment management, and other financial products and services in the United States and internationally. It operates through PGIM, Retirement Strategies, Group Insurance, Individual Life, and International Businesses segments.

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