Prudential Public Limited Company Plans Dividend of $0.15 (NYSE:PUK)

Key Points

• Prudential Public Limited Company announced a dividend of $0.15 per share, with shareholders of record set to receive this on October 16th, representing a yield of 118.0%.
• The company's dividend payout ratio stands at 28.0%, indicating that the dividend is well-covered by its earnings, with an expected future payout ratio of 32.5% based on anticipated earnings of $2.00 per share next year.
• Institutional investors have been increasing their stakes in Prudential Public, with Smartleaf Asset Management and Bruce G. Allen Investments boosting their holdings significantly in the first quarter.

Prudential Public Limited Company (NYSE:PUK - Get Free Report) declared a dividend on Wednesday, August 27th. Shareholders of record on Friday, September 5th will be given a dividend of 0.1542 per share by the financial services provider on Thursday, October 16th. This represents a yield of 118.0%. The ex-dividend date of this dividend is Friday, September 5th.

Prudential Public has a dividend payout ratio of 28.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Prudential Public to earn $2.00 per share next year, which means the company should continue to be able to cover its $0.65 annual dividend with an expected future payout ratio of 32.5%.

Prudential Public Trading Up 0.9%

Shares of PUK stock traded up $0.25 on Thursday, hitting $26.12. The stock had a trading volume of 325,329 shares, compared to its average volume of 970,402. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.04 and a quick ratio of 0.04. The firm has a market capitalization of $33.64 billion, a P/E ratio of 11.26, a P/E/G ratio of 0.76 and a beta of 1.06. Prudential Public has a 1 year low of $14.39 and a 1 year high of $27.20. The company's 50 day moving average price is $25.41 and its 200-day moving average price is $22.46.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Smartleaf Asset Management LLC lifted its stake in shares of Prudential Public by 38.1% in the first quarter. Smartleaf Asset Management LLC now owns 2,563 shares of the financial services provider's stock worth $55,000 after acquiring an additional 707 shares in the last quarter. Bruce G. Allen Investments LLC increased its holdings in Prudential Public by 70.4% in the first quarter. Bruce G. Allen Investments LLC now owns 2,759 shares of the financial services provider's stock valued at $59,000 after buying an additional 1,140 shares during the last quarter. SVB Wealth LLC bought a new stake in Prudential Public in the first quarter valued at about $60,000. MAI Capital Management increased its holdings in Prudential Public by 90.6% in the second quarter. MAI Capital Management now owns 2,573 shares of the financial services provider's stock valued at $64,000 after buying an additional 1,223 shares during the last quarter. Finally, AlphaCore Capital LLC bought a new stake in Prudential Public in the second quarter valued at about $77,000. Institutional investors and hedge funds own 1.90% of the company's stock.

Prudential Public Company Profile

Prudential plc, through its subsidiaries, provides life and health insurance, and asset management solutions to individuals in Asia and Africa. The company was founded in 1848 and is headquartered in Central, Hong Kong.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.