Prudential Financial, Inc. (NYSE:PRU) Shares Set to Pay Quarterly Dividend of $1.40

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

Prudential Financial has a payout ratio of 38.0% meaning its dividend is sufficiently covered by earnings. Equities research 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 Price Performance

Prudential Financial stock traded down $1.00 during midday trading on Wednesday, reaching $122.30. 82,589 shares of the company were exchanged, compared to its average volume of 2,009,833. The company has a market capitalization of $41.95 billion, a price-to-earnings ratio of 11.13, a P/E/G ratio of 1.93 and a beta of 0.85. The firm’s 50-day simple moving average is $117.14 and its 200-day simple moving average is $109.10. Prudential Financial has a 1 year low of $91.89 and a 1 year high of $128.78. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.17 and a current ratio of 0.17.

Prudential Financial (NYSE:PRU) last released 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. The company had revenue of $14.45 billion for the quarter, compared to analysts’ expectations of $14.66 billion. Prudential Financial had a net margin of 6.75% and a return on equity of 16.38%. During the same period last year, the company earned $4.26 EPS. On average, analysts anticipate that Prudential Financial will post 13.60 EPS for the current year.

Insider Transactions at Prudential Financial

In other news, EVP Ann Kappler sold 2,797 shares of the company’s stock in a transaction on Friday, November 6th. The stock was sold at an average price of $120.60, for a total transaction of $337,318.20. Following the completion of the sale, the executive vice president directly owned 14,482 shares in the company, valued at $1,746,529.20. This represents a 16.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Robert E. Boyle sold 2,794 shares of Prudential Financial stock in a transaction dated Friday, November 6th. The shares were sold at an average price of $121.24, for a total value of $338,744.56. Following the completion of the transaction, the senior vice president directly owned 6,008 shares in the company, valued at $728,409.92. This represents a 31.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 16,787 shares of company stock worth $2,062,597 in the last ninety days. Insiders own 0.05% of the company’s stock.

Institutional Investors Weigh In On Prudential Financial

Large investors have recently made changes to their positions in the business. Plimoth Trust Co. LLC raised its holdings in shares of Prudential Financial by 2.4% during the 2nd quarter. Plimoth Trust Co. LLC now owns 3,860 shares of the financial services provider’s stock valued at $417,000 after buying an additional 90 shares during the period. Security National Bank of SO Dak lifted its holdings in Prudential Financial by 0.6% in the 2nd quarter. Security National Bank of SO Dak now owns 14,676 shares of the financial services provider’s stock worth $1,584,000 after buying an additional 90 shares in the last quarter. XXI Wealth LLC boosted its position in Prudential Financial by 5.0% in the 3rd quarter. XXI Wealth LLC now owns 1,967 shares of the financial services provider’s stock valued at $223,000 after buying an additional 93 shares during the last quarter. Prosperitas Financial LLC grew its stake in shares of Prudential Financial by 4.6% during the third quarter. Prosperitas Financial LLC now owns 2,186 shares of the financial services provider’s stock valued at $248,000 after acquiring an additional 96 shares in the last quarter. Finally, Focused Wealth Management Inc grew its stake in shares of Prudential Financial by 4.3% during the third quarter. Focused Wealth Management Inc now owns 2,360 shares of the financial services provider’s stock valued at $268,000 after acquiring an additional 98 shares in the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.

Prudential Financial Company Profile

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.