Prudential Financial, Inc. (NYSE:PRU) Plans Quarterly Dividend of $1.40

Prudential Financial, Inc. (NYSE:PRU) announced a quarterly dividend on Tuesday, November 10th. Stockholders of record on Tuesday, November 24th will be paid a dividend of $1.40 per share by the financial services provider on Thursday, December 10th. This represents a $5.60 annualized dividend and a dividend yield of 4.6%. The ex-dividend date of this dividend is Tuesday, November 24th.

Prudential Financial has a dividend payout ratio of 38.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Prudential Financial to earn $13.67 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 41.0%.

Prudential Financial Stock Down 0.9%

Shares of PRU stock traded down $1.11 during trading hours on Wednesday, reaching $122.19. The company had a trading volume of 118,833 shares, compared to its average volume of 2,010,045. The company has a market cap of $41.91 billion, a price-to-earnings ratio of 11.12, a price-to-earnings-growth ratio of 1.93 and a beta of 0.85. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.17 and a quick ratio of 0.17. Prudential Financial has a 12 month low of $91.89 and a 12 month high of $128.78. The business has a fifty day simple moving average of $117.14 and a 200-day simple moving average of $109.10.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Tuesday, November 3rd. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.33 by $0.44. Prudential Financial had a return on equity of 16.38% and a net margin of 6.75%. The business had revenue of $14.45 billion during the quarter, compared to the consensus estimate of $14.66 billion. During the same quarter in the prior year, the company posted $4.26 earnings per share. On average, research analysts expect that Prudential Financial will post 13.60 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Prudential Financial news, CEO Andrew Sullivan sold 3,544 shares of Prudential Financial stock in a transaction dated Friday, November 6th. The shares were sold at an average price of $121.32, for a total value of $429,958.08. Following the sale, the chief executive officer owned 50,317 shares of the company’s stock, valued at approximately $6,104,458.44. The trade was a 6.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Robert E. Boyle sold 2,794 shares of the business’s stock in a transaction dated Friday, November 6th. The shares were sold at an average price of $121.24, for a total transaction of $338,744.56. Following the completion of the transaction, the senior vice president owned 6,008 shares in the company, valued at approximately $728,409.92. The trade was a 31.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 16,787 shares of company stock worth $2,062,597. Insiders own 0.05% of the company’s stock.

Hedge Funds Weigh In On Prudential Financial

Institutional investors and hedge funds have recently bought and sold shares of the company. Private Wealth Asset Management LLC lifted its holdings in Prudential Financial by 3,404.3% during the third quarter. Private Wealth Asset Management LLC now owns 3,224 shares of the financial services provider’s stock valued at $384,000 after purchasing an additional 3,132 shares during the last quarter. Westpac Banking Corp boosted its position in Prudential Financial by 915.9% during the third quarter. Westpac Banking Corp now owns 41,805 shares of the financial services provider’s stock worth $4,748,000 after purchasing an additional 37,690 shares during the period. Private Advisor Group LLC increased its stake in shares of Prudential Financial by 2.4% in the third quarter. Private Advisor Group LLC now owns 47,527 shares of the financial services provider’s stock worth $5,398,000 after purchasing an additional 1,097 shares in the last quarter. Focus Advisor Solutions LLC increased its stake in shares of Prudential Financial by 13.8% in the third quarter. Focus Advisor Solutions LLC now owns 14,053 shares of the financial services provider’s stock worth $1,596,000 after purchasing an additional 1,702 shares in the last quarter. Finally, Independent Advisor Alliance raised its position in shares of Prudential Financial by 4.0% in the third quarter. Independent Advisor Alliance now owns 15,273 shares of the financial services provider’s stock valued at $1,777,000 after purchasing an additional 590 shares during the period. 56.83% of the stock is owned by institutional investors.

About Prudential Financial

Prudential Financial, Inc. is a financial services company headquartered in Newark, New Jersey. Founded in 1875 as the Prudential Friendly Society, it has grown into a provider of insurance, retirement and investment services. The company offers life insurance, annuities, workplace benefits and retirement-related products and services. Through its asset management businesses, Prudential also serves individual and institutional investors. Prudential serves customers in the United States and operates internationally, with a significant presence in Japan and other markets.