Truist Financial Corp trimmed its holdings in shares of Prudential plc (NYSE:PUK – Free Report) by 11.9% during the second quarter, HoldingsChannel reports. The institutional investor owned 32,392 shares of the financial services provider’s stock after selling 4,396 shares during the quarter. Truist Financial Corp’s holdings in Prudential were worth $917,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in the company. FinTrust Capital Advisors LLC boosted its stake in Prudential by 51.6% during the 4th quarter. FinTrust Capital Advisors LLC now owns 975 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 332 shares during the last quarter. Lindbrook Capital LLC increased its holdings in Prudential by 58.2% in the first quarter. Lindbrook Capital LLC now owns 1,011 shares of the financial services provider’s stock valued at $28,000 after buying an additional 372 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in Prudential by 53.5% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,088 shares of the financial services provider’s stock valued at $30,000 after buying an additional 379 shares in the last quarter. BOKF NA bought a new position in Prudential during the 1st quarter worth approximately $34,000. Finally, Belpointe Asset Management LLC grew its position in shares of Prudential by 23.1% in the 1st quarter. Belpointe Asset Management LLC now owns 2,322 shares of the financial services provider’s stock worth $63,000 after acquiring an additional 436 shares in the last quarter. 1.90% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on PUK shares. JPMorgan Chase & Co. reduced their price objective on Prudential from GBX 1,630 ($20.12) to GBX 1,500 ($18.52) in a research note on Friday, September 22nd. Morgan Stanley cut their target price on shares of Prudential from GBX 1,542 ($19.03) to GBX 1,510 ($18.64) in a report on Thursday, July 13th. Barclays upped their target price on Prudential from GBX 1,575 ($19.44) to GBX 1,610 ($19.87) in a report on Thursday, September 7th. UBS Group cut their price target on Prudential from GBX 1,590 ($19.63) to GBX 1,440 ($17.78) in a report on Wednesday, July 12th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on Prudential from GBX 1,540 ($19.01) to GBX 1,460 ($18.02) in a research report on Tuesday, October 10th.
Prudential Stock Down 0.2 %
Shares of PUK stock opened at $22.23 on Tuesday. The stock has a 50-day simple moving average of $22.24 and a 200 day simple moving average of $25.82. Prudential plc has a fifty-two week low of $19.90 and a fifty-two week high of $34.37.
Prudential Cuts Dividend
The company also recently announced a Semi-Annual dividend, which was paid on Thursday, October 19th. Investors of record on Friday, September 8th were paid a dividend of $0.1252 per share. The ex-dividend date was Thursday, September 7th. This represents a yield of 1.5%.
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.
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