Park Avenue Securities LLC Has $453,000 Stock Position in Prudential plc (NYSE:PUK)

Park Avenue Securities LLC raised its stake in shares of Prudential plc (NYSE:PUK) by 65.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 21,051 shares of the financial services provider’s stock after purchasing an additional 8,350 shares during the quarter. Park Avenue Securities LLC’s holdings in Prudential were worth $453,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Northern Trust Corp raised its stake in shares of Prudential by 2.0% in the fourth quarter. Northern Trust Corp now owns 1,733,772 shares of the financial services provider’s stock valued at $27,636,000 after acquiring an additional 34,344 shares during the last quarter. Bank of Montreal Can raised its stake in shares of Prudential by 165.3% during the fourth quarter. Bank of Montreal Can now owns 1,554,255 shares of the financial services provider’s stock worth $24,775,000 after buying an additional 968,317 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Prudential by 321.8% in the 4th quarter. JPMorgan Chase & Co. now owns 1,236,697 shares of the financial services provider’s stock valued at $19,713,000 after purchasing an additional 943,487 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in Prudential by 1,133.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,051,231 shares of the financial services provider’s stock valued at $16,757,000 after buying an additional 965,985 shares during the period. Finally, ABC Arbitrage SA bought a new position in Prudential during the 4th quarter worth approximately $16,207,000. Institutional investors and hedge funds own 1.90% of the company’s stock.

Analysts Set New Price Targets

PUK has been the subject of a number of research analyst reports. Wall Street Zen raised Prudential from a “hold” rating to a “buy” rating in a research note on Saturday, June 7th. Barclays reissued an “overweight” rating on shares of Prudential in a research report on Thursday, May 22nd. Citigroup reaffirmed a “buy” rating on shares of Prudential in a research report on Tuesday, April 1st. Deutsche Bank Aktiengesellschaft raised Prudential from a “hold” rating to a “buy” rating in a research report on Friday, June 6th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Prudential in a report on Tuesday, May 13th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Prudential has a consensus rating of “Buy”.

Prudential Price Performance

Shares of PUK opened at $23.95 on Friday. The business has a 50-day moving average of $22.02 and a 200-day moving average of $19.11. The company has a market capitalization of $31.18 billion, a price-to-earnings ratio of 10.32, a price-to-earnings-growth ratio of 0.41 and a beta of 1.02. Prudential plc has a 1 year low of $14.39 and a 1 year high of $24.38.

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 issued a $0.3258 dividend. This is a boost from Prudential’s previous dividend of $0.24. The ex-dividend date was Friday, March 28th. Prudential’s dividend payout ratio (DPR) is presently 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.