JPMorgan Chase & Co. Decreases Stake in Prudential plc (NYSE:PUK)

JPMorgan Chase & Co. lowered its position in shares of Prudential plc (NYSE:PUKGet Rating) by 39.9% in the first quarter, Holdings Channel reports. The firm owned 539,653 shares of the financial services provider’s stock after selling 357,977 shares during the period. JPMorgan Chase & Co.’s holdings in Prudential were worth $15,964,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. UMB Bank N A MO purchased a new position in Prudential in the 4th quarter worth approximately $26,000. CWM LLC boosted its holdings in Prudential by 79.9% in the 1st quarter. CWM LLC now owns 1,506 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 669 shares during the period. Parallel Advisors LLC raised its position in shares of Prudential by 45.2% in the 1st quarter. Parallel Advisors LLC now owns 3,779 shares of the financial services provider’s stock valued at $111,000 after purchasing an additional 1,177 shares in the last quarter. BNP Paribas Arbitrage SA acquired a new position in shares of Prudential in the 4th quarter valued at approximately $137,000. Finally, Ellevest Inc. raised its position in shares of Prudential by 53.3% in the 1st quarter. Ellevest Inc. now owns 6,146 shares of the financial services provider’s stock valued at $182,000 after purchasing an additional 2,138 shares in the last quarter. Hedge funds and other institutional investors own 1.96% of the company’s stock.

Insiders Place Their Bets

In other news, major shareholder Plc Prudential sold 4,200,000 shares of the stock in a transaction on Monday, June 13th. The stock was sold at an average price of $40.79, for a total value of $171,318,000.00. Following the completion of the transaction, the insider now owns 12,135,443 shares of the company’s stock, valued at $495,004,719.97. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.07% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on PUK shares. StockNews.com lowered Prudential from a “hold” rating to a “sell” rating in a research report on Monday. Morgan Stanley upped their price target on Prudential from GBX 1,605 ($19.39) to GBX 1,687 ($20.38) in a research report on Friday, July 15th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,579.50.

Prudential Price Performance

Shares of NYSE PUK opened at $21.39 on Wednesday. Prudential plc has a 1-year low of $20.26 and a 1-year high of $44.42. The company has a quick ratio of 0.04, a current ratio of 0.72 and a debt-to-equity ratio of 0.26. The business’s fifty day moving average price is $23.87 and its two-hundred day moving average price is $26.05.

Prudential Increases Dividend

The business also recently announced a Semi-Annual dividend, which will be paid on Tuesday, September 27th. Shareholders of record on Friday, August 19th will be given a $0.115 dividend. The ex-dividend date is Thursday, August 18th. This is a positive change from Prudential’s previous Semi-Annual dividend of $0.11.

Prudential Company Profile

(Get Rating)

Prudential plc, through its subsidiaries, provides life and health insurance, and retirement and asset management solutions to individuals in Asia, and Africa. It offers health and protection, as well as savings products, such as participating, linked, and other traditional products. The company also provides insurance against common critical illnesses, including cancer, stroke, and heart attack; and tropical disease protection, such as dengue, malaria, and measles.

Featured Stories

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Institutional Ownership by Quarter for Prudential (NYSE:PUK)

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