Dividend Coverage: The No. 2 US Life Insurer has a Dividend Yield of 2.81%; Will Trade Ex-Dividend on August 18, 2017

LONDON, UK / ACCESSWIRE / August 17, 2017 / Pro-Trader Daily takes a closer look at Prudential Financial, Inc. (NYSE: PRU) as the Company’s stock will begin trading ex-dividend on August 18, 2017. In order to capture the dividend payout, investors must purchase the stock a day prior to the ex-dividend date that is by latest at the end of the trading session on August 17, 2017. Are you looking for research on dividend stocks, if so register with us now for your free membership at:

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Dividend Declared

On August 09, 2017, Prudential Financial announced the declaration of a quarterly dividend of $0.75 per share of Common Stock, payable on September 14, 2017, to shareholders of record at the close of business on August 22, 2017

Prudential’s indicated dividend represents a yield of 2.81%, which is below the average dividend yield of 3.20% for the Financial sector. The Company has raised its dividend for eight consecutive years.

Dividend Insights

Prudential has a dividend payout ratio of 29.5%, which means that the Company distributes approximately $0.30 for every $1.00 earned. The dividend payout ratio reflects how much money a company is returning to shareholders versus how much money it is keeping on hand to reinvest in growth, to pay off debt, and/or to add to its cash reserves.

According to analysts’ estimates, Prudential is forecasted to report earnings of $11.18 for the upcoming year which is more than three times above the Company’s annualized dividend of $3.00.

As of June 30, 2017, Prudential had $16.61 billion in cash and cash equivalents available, while its accrued investment income totaled $3.23 billion and senior short-term debt totaled $1.78 billion. The Company’s strong financial position indicates its ability to absorb any fluctuations in earnings and cash flow and to sustain its dividend distribution for a long period.

Recent Development for Prudential

On August 14, 2017, Prudential Capital Group, a leading source of private capital for public and private companies, has provided more than $7.1 billion to companies and projects worldwide in the first two quarters of 2017. This milestone represents an increase of $1.8 billion compared to the first half of 2016, and an almost double in investments outside of North America. Prudential Capital Group is the private placement arm of PGIM, the $1.1 trillion global investment management business of Prudential Financial.

About Prudential

Prudential Financial is a financial services leader with more than $1 trillion of assets under management as of June 30, 2017, having operations in the United States, Asia, Europe, and Latin America. Prudential’s help individual and institutional customers grow and protect their wealth through a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds, and investment management.

Stock Performance

At the closing bell, on Wednesday, August 16, 2017, Prudential Financial’s stock marginally slipped 0.98%, ending the trading session at $105.21. A total volume of 2.30 million shares have exchanged hands, which was higher than the 3-month average volume of 1.85 million shares. The Company’s stock price soared 1.73% in the last three months and 37.12% in the previous twelve months. Moreover, the stock gained 1.11% since the start of the year. The stock is trading at a PE ratio of 11.81 and has a dividend yield of 2.85%. The stock currently has a market cap of $45.44 billion.

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