Bank of America Corp DE Has $10.54 Million Stock Holdings in Prudential plc (NYSE:PUK)

Bank of America Corp DE trimmed its holdings in shares of Prudential plc (NYSE:PUK) by 42.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 661,158 shares of the financial services provider’s stock after selling 477,902 shares during the quarter. Bank of America Corp DE’s holdings in Prudential were worth $10,539,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in PUK. Smartleaf Asset Management LLC boosted its holdings in shares of Prudential by 417.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,856 shares of the financial services provider’s stock valued at $29,000 after buying an additional 1,497 shares during the last quarter. Whipplewood Advisors LLC bought a new position in shares of Prudential in the fourth quarter worth $30,000. Advisors Preferred LLC bought a new position in Prudential in the fourth quarter valued at about $31,000. National Bank of Canada FI increased its stake in shares of Prudential by 52.6% in the fourth 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 during the period. Finally, Ballentine Partners LLC acquired a new position in shares of Prudential in the fourth quarter valued at approximately $163,000. 1.90% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Barclays restated an “overweight” rating on shares of Prudential in a report on Thursday. Citigroup reaffirmed a “buy” rating on shares of Prudential in a research report on Tuesday, April 1st. Wall Street Zen downgraded Prudential from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Morgan Stanley restated an “overweight” rating on shares of Prudential in a research note on Tuesday, May 13th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy”.

Prudential Trading Down 0.8%

Shares of NYSE PUK opened at $22.43 on Friday. The stock’s 50-day moving average is $21.23 and its 200 day moving average is $18.35. The stock has a market cap of $29.30 billion, a price-to-earnings ratio of 9.67, a P/E/G ratio of 0.41 and a beta of 0.98. Prudential plc has a 1-year low of $14.39 and a 1-year high of $23.35.

Prudential Increases Dividend

The business also recently declared a dividend, which was paid on Wednesday, May 14th. Shareholders of record on Friday, March 28th were paid a $0.3258 dividend. This is a boost from Prudential’s previous dividend of $0.24. The ex-dividend date of this dividend was Friday, March 28th. Prudential’s payout ratio is 28.02%.

Prudential 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.