Friday's slide leaves Prudential Financial traders hoping for a bounce

Published: March 19 2023, 11:00 GMT+0

Friday's slide leaves Prudential Financial traders hoping for a bounce

A quick look at Friday: during Friday's session, Prudential Financial Inc toiled and struggled for upward momentum before closing at $78. By the close, the the mammoth insurance company suffered a $4.19 or 5.07% loss.

  • Daily trading volume (15.96 million shares) increased, making up 776% of the 21-day average (2 million).
  • Prudential Financial discloses $1.25 per share dividend to be paid on Thursday, March 16th

The opening bell in a day time follows Friday's session in which S&P 500 retreats 1.1% before ending the session at 3,916.64. Prudential Financial closed lower Friday, with similar drops noticed throughout the Financial Services sector (down 1.02%).

The global insurance giant has shed 20.38% over the past three months. So far this year, it has been under-performing the S&P 500 by 18.19%. The company has a market cap of $28.56 billion with an average daily volume of 2 million shares. Prudential Financial has a forecast of $14.67 billion with an EPS of $2.51.

Prudential Financial disclosed a quarterly dividend of $1.25 per share on Tuesday, February 7th that was paid on Thursday, March 16th to all shareholders of record up until Tuesday, February 21st. Based on current prices, the company's decision thereby provides Prudential Financial investors with an annual dividend yield of 6.41%.

Prudential Financial was not the only decliner in the financials sector; HSBC Holdings dips 4.09% Friday to close at $34.49. Berkshire Hathaway went down 2.81%, closed at $302. JP Morgan Chase falls 3.78% Friday to close at $130.75.