UBS Group AG Grows Position in Prudential plc (NYSE:PUK)

UBS Group AG boosted its stake in Prudential plc (NYSE:PUK – Get Rating) by 222.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 335,005 shares of the financial services provider’s stock after buying an additional 230,995 shares during the quarter. UBS Group AG’s holdings in Prudential were worth $9,206,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of PUK. Bank of New York Mellon Corp raised its position in Prudential by 14.6% in the 1st quarter. Bank of New York Mellon Corp now owns 807,381 shares of the financial services provider’s stock valued at $23,881,000 after buying an additional 102,809 shares during the last quarter. American Century Companies Inc. raised its position in Prudential by 37.1% in the 1st quarter. American Century Companies Inc. now owns 51,990 shares of the financial services provider’s stock valued at $1,538,000 after buying an additional 14,067 shares during the last quarter. US Bancorp DE raised its position in Prudential by 35.0% in the 1st quarter. US Bancorp DE now owns 18,524 shares of the financial services provider’s stock valued at $548,000 after buying an additional 4,801 shares during the last quarter. BlackRock Inc. raised its position in Prudential by 45.1% in the 1st quarter. BlackRock Inc. now owns 2,417,858 shares of the financial services provider’s stock valued at $71,520,000 after buying an additional 751,756 shares during the last quarter. Finally, Sei Investments Co. raised its position in Prudential by 42.4% in the 1st quarter. Sei Investments Co. now owns 206,600 shares of the financial services provider’s stock valued at $6,132,000 after buying an additional 61,500 shares during the last quarter. 1.93% of the stock is owned by hedge funds and other institutional investors.

Prudential Stock Performance

PUK stock opened at $28.78 on Wednesday. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.25. Prudential plc has a fifty-two week low of $18.20 and a fifty-two week high of $34.37. The stock has a fifty day moving average of $28.21 and a 200-day moving average of $28.29.

Prudential Increases Dividend

The company also recently declared a Semi-Annual dividend, which was paid on Monday, May 15th. Stockholders of record on Friday, March 24th were paid a dividend of $0.2608 per share. This is an increase from Prudential’s previous Semi-Annual dividend of $0.24. The ex-dividend date of this dividend was Thursday, March 23rd. This represents a dividend yield of 1.47%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on PUK shares. Deutsche Bank Aktiengesellschaft upped their price objective on Prudential from GBX 1,460 ($18.16) to GBX 1,550 ($19.28) in a research note on Monday, April 24th. Barclays reduced their price objective on Prudential from GBX 1,750 ($21.77) to GBX 1,700 ($21.14) in a research note on Thursday, March 16th. JPMorgan Chase & Co. upped their price objective on Prudential from GBX 1,750 ($21.77) to GBX 1,850 ($23.01) in a research note on Thursday, March 23rd. Finally, StockNews.com started coverage on Prudential in a research note on Thursday, May 18th. They issued a “hold” rating for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,540.00.

Prudential Profile

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Prudential Plc is a holding company, which engages in the provision of insurance and financial services. It operates through the following geographical segments: CPL, Hong Kong, Indonesia, Malaysia, Singapore, Growth Markets and Other, and Eatspring. The company was founded on May 30, 1848 and is headquartered in London, the United Kingdom.