Prudential plc (NYSE:PUK) Position Lessened by Nuveen Asset Management LLC

Nuveen Asset Management LLC reduced its stake in shares of Prudential plc (NYSE:PUK) by 19.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 100,711 shares of the financial services provider’s stock after selling 24,402 shares during the period. Nuveen Asset Management LLC’s holdings in Prudential were worth $1,605,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of PUK. Charles Schwab Investment Management Inc. grew its position in Prudential by 62.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 92,918 shares of the financial services provider’s stock worth $1,481,000 after buying an additional 35,811 shares in the last quarter. ABC Arbitrage SA bought a new position in shares of Prudential in the fourth quarter valued at approximately $16,207,000. First Trust Advisors LP bought a new position in Prudential in the 4th quarter worth approximately $228,000. Jane Street Group LLC raised its position in Prudential by 575.1% in the 4th quarter. Jane Street Group LLC now owns 72,470 shares of the financial services provider’s stock worth $1,155,000 after purchasing an additional 61,735 shares during the last quarter. Finally, US Bancorp DE raised its position in shares of Prudential by 69.1% during the 4th quarter. US Bancorp DE now owns 15,588 shares of the financial services provider’s stock valued at $248,000 after acquiring an additional 6,368 shares during the last quarter. 1.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on PUK shares. Morgan Stanley reissued an “overweight” rating on shares of Prudential in a report on Tuesday, May 13th. Citigroup reaffirmed a “buy” rating on shares of Prudential in a report on Tuesday, April 1st. Wall Street Zen raised shares of Prudential from a “hold” rating to a “buy” rating in a report on Friday, May 30th. Finally, Barclays restated an “overweight” rating on shares of Prudential in a research report on Thursday, May 22nd. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy”.

Prudential Price Performance

Shares of Prudential stock opened at $23.20 on Wednesday. Prudential plc has a fifty-two week low of $14.39 and a fifty-two week high of $23.35. The firm has a market capitalization of $30.20 billion, a P/E ratio of 10.00, a P/E/G ratio of 0.41 and a beta of 0.98. The company’s 50 day moving average price is $21.47 and its two-hundred day moving average price is $18.68.

Prudential Increases Dividend

The firm also recently declared a dividend, which was paid on Wednesday, May 14th. Stockholders of record on Friday, March 28th were paid 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 presently 28.02%.

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.