Bain Capital Public Equity Management II LLC Trims Stock Position in Prudential plc (NYSE:PUK)

Bain Capital Public Equity Management II LLC cut its position in shares of Prudential plc (NYSE:PUK) by 14.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,899 shares of the financial services provider’s stock after selling 9,851 shares during the period. Prudential makes up 0.1% of Bain Capital Public Equity Management II LLC’s holdings, making the stock its 28th biggest holding. Bain Capital Public Equity Management II LLC’s holdings in Prudential were worth $1,638,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Wealth Alliance purchased a new position in Prudential during the fourth quarter worth about $531,000. Madison Asset Management LLC raised its stake in Prudential by 17.9% during the first quarter. Madison Asset Management LLC now owns 109,577 shares of the financial services provider’s stock worth $2,996,000 after purchasing an additional 16,653 shares during the period. BOKF NA purchased a new position in Prudential during the first quarter worth about $34,000. Quantinno Capital Management LP raised its stake in Prudential by 106.8% during the first quarter. Quantinno Capital Management LP now owns 16,330 shares of the financial services provider’s stock worth $446,000 after purchasing an additional 8,434 shares during the period. Finally, Thomas White International Ltd. raised its stake in Prudential by 226.2% during the first quarter. Thomas White International Ltd. now owns 232,928 shares of the financial services provider’s stock worth $6,368,000 after purchasing an additional 161,532 shares during the period. 1.90% of the stock is owned by hedge funds and other institutional investors.

Prudential Stock Performance

Shares of PUK stock opened at $22.77 on Tuesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.04 and a current ratio of 0.04. The company has a 50 day moving average price of $26.05 and a 200 day moving average price of $27.58. Prudential plc has a fifty-two week low of $18.20 and a fifty-two week high of $34.37.

Prudential Cuts Dividend

The firm also recently disclosed a Semi-Annual dividend, which will be paid on Thursday, October 19th. Investors of record on Friday, September 8th will be issued a $0.1252 dividend. This represents a dividend yield of 1.5%. The ex-dividend date of this dividend is Thursday, September 7th.

Wall Street Analysts Forecast Growth

PUK has been the subject of a number of recent analyst reports. StockNews.com initiated coverage on shares of Prudential in a research report on Thursday, August 17th. They set a “hold” rating for the company. Morgan Stanley dropped their price target on shares of Prudential from GBX 1,542 ($19.30) to GBX 1,510 ($18.90) in a research report on Thursday, July 13th. Barclays lifted their price target on shares of Prudential from GBX 1,575 ($19.71) to GBX 1,610 ($20.15) in a research report on Thursday, September 7th. UBS Group dropped their price target on shares of Prudential from GBX 1,590 ($19.90) to GBX 1,440 ($18.02) in a research report on Wednesday, July 12th. Finally, BNP Paribas upgraded shares of Prudential from an “underperform” rating to a “neutral” rating in a research report on Monday. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,491.67.

Prudential Company Profile

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 non- participating savings products, such as protection and investment-linked products. The company also provides insurance against common critical illnesses; property and casualty; and tropical disease protection, such as dengue, malaria, and measles.