LPL Financial LLC Sells 14,722 Shares of Prudential plc (NYSE:PUK)

LPL Financial LLC lessened its holdings in shares of Prudential plc (NYSE:PUK) by 32.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,294 shares of the financial services provider’s stock after selling 14,722 shares during the quarter. LPL Financial LLC’s holdings in Prudential were worth $499,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Smartleaf Asset Management LLC increased its position in Prudential by 417.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,856 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 1,497 shares during the period. Whipplewood Advisors LLC purchased a new position in shares of Prudential during the fourth quarter valued at about $30,000. Advisors Preferred LLC bought a new position in Prudential in the fourth quarter worth about $31,000. GAMMA Investing LLC lifted its holdings in Prudential by 95.8% in the fourth quarter. GAMMA Investing LLC now owns 2,303 shares of the financial services provider’s stock worth $37,000 after buying an additional 1,127 shares during the period. Finally, Ballentine Partners LLC bought a new stake in Prudential during the 4th quarter valued at approximately $163,000. Institutional investors own 1.90% of the company’s stock.

Prudential Stock Performance

Shares of PUK opened at $21.70 on Friday. Prudential plc has a fifty-two week low of $14.39 and a fifty-two week high of $22.01. The firm’s 50-day simple moving average is $19.78 and its two-hundred day simple moving average is $17.61. The stock has a market cap of $28.35 billion, a PE ratio of 9.35, a price-to-earnings-growth ratio of 0.41 and a beta of 1.00.

Prudential Increases Dividend

The business also recently declared a dividend, which will be paid on Wednesday, May 14th. Investors of record on Friday, March 28th will be paid a $0.3258 dividend. The ex-dividend date is Friday, March 28th. This is an increase from Prudential’s previous dividend of $0.24. Prudential’s dividend payout ratio is presently 28.02%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. StockNews.com raised Prudential from a “sell” rating to a “hold” rating in a research report on Saturday, March 22nd. Citigroup reiterated a “buy” rating on shares of Prudential in a report on Tuesday, April 1st. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

Prudential Company Profile

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.