Lazard Asset Management LLC Lowers Stock Holdings in Prudential plc (NYSE:PUK)

Lazard Asset Management LLC reduced its holdings in Prudential plc (NYSE:PUK) by 12.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,722 shares of the financial services provider’s stock after selling 655 shares during the quarter. Lazard Asset Management LLC’s holdings in Prudential were worth $75,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of PUK. Smartleaf Asset Management LLC grew its position in 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 during the period. Whipplewood Advisors LLC acquired a new stake in shares of Prudential in the fourth quarter worth $30,000. Advisors Preferred LLC purchased a new position in shares of Prudential in the 4th quarter valued at $31,000. National Bank of Canada FI lifted its holdings in shares of Prudential by 52.6% during 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 acquiring an additional 1,049 shares in the last quarter. Finally, Ballentine Partners LLC acquired a new position in shares of Prudential during the fourth quarter worth about $163,000. 1.90% of the stock is currently owned by hedge funds and other institutional investors.

Prudential Price Performance

Shares of PUK stock opened at $22.43 on Monday. The firm has a market cap of $29.30 billion, a P/E 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. The firm has a fifty day moving average of $21.23 and a two-hundred day moving average of $18.36.

Prudential Increases Dividend

The company also recently announced a dividend, which was paid on Wednesday, May 14th. Shareholders of record on Friday, March 28th were issued a dividend of $0.3258 per share. The ex-dividend date was Friday, March 28th. This is an increase from Prudential’s previous dividend of $0.24. Prudential’s dividend payout ratio (DPR) is currently 28.02%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PUK. Barclays reissued an “overweight” rating on shares of Prudential in a research report on Thursday. Morgan Stanley restated an “overweight” rating on shares of Prudential in a research note on Tuesday, May 13th. Wall Street Zen cut Prudential from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Citigroup reissued a “buy” rating on shares of Prudential in a report on Tuesday, April 1st. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, 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.