Wells Fargo & Company MN Trims Position in Prudential plc (NYSE:PUK)

Wells Fargo & Company MN trimmed its position in shares of Prudential plc (NYSE:PUK) by 46.4% during the 4th quarter, Holdings Channel reports. The fund owned 67,399 shares of the financial services provider’s stock after selling 58,371 shares during the period. Wells Fargo & Company MN’s holdings in Prudential were worth $1,074,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in PUK. Smartleaf Asset Management LLC raised its stake in shares of Prudential by 417.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,856 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 1,497 shares in the last quarter. Whipplewood Advisors LLC purchased a new stake in Prudential in the fourth quarter valued at $30,000. Advisors Preferred LLC acquired a new position in shares of Prudential in the 4th quarter valued at $31,000. GAMMA Investing LLC increased its position in shares of Prudential by 95.8% in the fourth quarter. GAMMA Investing LLC now owns 2,303 shares of the financial services provider’s stock valued at $37,000 after buying an additional 1,127 shares in the last quarter. Finally, National Bank of Canada FI lifted its stake in Prudential by 52.6% in the 4th quarter. National Bank of Canada FI now owns 3,042 shares of the financial services provider’s stock valued at $48,000 after buying an additional 1,049 shares in the last quarter. 1.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. StockNews.com raised Prudential from a “sell” rating to a “hold” rating in a research note on Saturday, March 22nd. Citigroup restated a “buy” rating on shares of Prudential in a research report on Tuesday, April 1st. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

Prudential Stock Performance

Prudential stock opened at $21.67 on Wednesday. Prudential plc has a one year low of $14.39 and a one year high of $22.01. The company has a market cap of $28.31 billion, a P/E ratio of 9.34, a price-to-earnings-growth ratio of 0.41 and a beta of 1.00. The business has a fifty day moving average of $19.99 and a two-hundred day moving average of $17.68.

Prudential Increases Dividend

The firm also recently disclosed a dividend, which will be paid on Wednesday, May 14th. Stockholders of record on Friday, March 28th will be paid a dividend of $0.3258 per share. This is a boost from Prudential’s previous dividend of $0.24. The ex-dividend date of this dividend is Friday, March 28th. Prudential’s dividend payout ratio (DPR) is 28.02%.

About Prudential

Prudential plc, through its subsidiaries, provides life and health insurance, and asset management solutions to individuals in Asia and Africa. The company was founded in 1848 and is headquartered in Central, Hong Kong.