10 Best FTSE Dividend Stocks To Buy Now

5. Prudential Financial, Inc. (NYSE:PRU)

Number of Hedge Fund Holders: 33

Prudential Financial, Inc. (NYSE:PRU) is a multinational insurance company that provides services in life and health insurance and asset management. Last month, Jefferies upgraded the stock to Buy, highlighting the company’s annuity leverage. The firm believes that the company’s involvement with Prismic, a life and annuity reinsurer it helped establish, could boost the stock. Since the start of 2024, the stock is up by nearly 11% and its 12-month return stands at over 37%.

Prudential Financial, Inc. (NYSE:PRU)’s recent quarterly earnings fell short of expectations, however, the company’s global investment management business, PGIM, performed strongly. Market gains and $26.6 billion in net inflows led to a 6% year-over-year in assets under management, surpassing $1.3 trillion. This growth boosted asset management fees and related revenue, despite higher expenses. As a result, for the first quarter, PGIM’s pre-tax adjusted operating income rose by nearly 12% on the year to $169 million. In addition, the company maintained its focus on becoming a faster-growing, more capital-efficient, and agile company by expanding its market-leading business.

Prudential Financial, Inc. (NYSE:PRU) is one of the best FTSE dividend stocks on our list due to its steadfast dedication to shareholder returns. In the first three months of the year, the company returned $726 million to shareholders, including $476 million in dividends. Moreover, it has been raising its payouts consistently for the past 16 years. The company’s quarterly dividend currently comes in at $1.30 per share for a dividend yield of 4.5%.

Prudential Financial, Inc. (NYSE:PRU) is adept at strategically diversifying its investment portfolio. This was seen when the company expanded into alternative assets, acquiring Deerpath Capital last year. In its recent earnings call, the CEO also mentioned that the company is diversifying its product range in Japan. Moreover, Prudential’s recent announcement about selling its business in Argentina indicates a shift toward focusing on fewer high-growth emerging markets. Through this, the company would be able to concentrate on scaling its business more effectively compared to the broader approach. Prudential Financial, Inc. (NYSE:PRU) has a forward P/E of 8.69, which shows that the stock is relatively cheap given its strong earnings, high yield, and solid operating performance. We have also seen an increase in insider buying activity for the stock.

As per Insider Monkey’s database, 33 hedge funds owned stakes in Prudential Financial, Inc. (NYSE:PRU) at the end of March, up from 32 in the previous quarter. These funds own around $543 million worth of stock.