Two Sigma Investments LP lowered its position in shares of Prudential (NYSE:PUK) by 84.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 9,585 shares of the financial services provider’s stock after selling 52,940 shares during the period. Two Sigma Investments LP’s holdings in Prudential were worth $487,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently added to or reduced their stakes in the company. Deutsche Bank AG grew its position in shares of Prudential by 181.1% during the fourth quarter. Deutsche Bank AG now owns 246,877 shares of the financial services provider’s stock worth $12,536,000 after acquiring an additional 159,039 shares during the last quarter. Jefferies Group LLC bought a new position in shares of Prudential during the fourth quarter worth about $542,000. Advisor Group Inc. grew its position in shares of Prudential by 20.7% during the fourth quarter. Advisor Group Inc. now owns 19,333 shares of the financial services provider’s stock worth $982,000 after acquiring an additional 3,310 shares during the last quarter. Scotia Capital Inc. grew its position in shares of Prudential by 21.8% during the fourth quarter. Scotia Capital Inc. now owns 6,489 shares of the financial services provider’s stock worth $330,000 after acquiring an additional 1,160 shares during the last quarter. Finally, ETRADE Capital Management LLC grew its position in shares of Prudential by 5.5% during the fourth quarter. ETRADE Capital Management LLC now owns 56,406 shares of the financial services provider’s stock worth $2,864,000 after acquiring an additional 2,922 shares during the last quarter. Institutional investors and hedge funds own 1.57% of the company’s stock.
PUK has been the subject of several recent research reports. Zacks Investment Research upgraded shares of Prudential from a “hold” rating to a “buy” rating and set a $59.00 price target for the company in a research report on Wednesday, March 21st. Berenberg Bank downgraded shares of Prudential from a “hold” rating to a “sell” rating in a report on Thursday, March 29th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. Prudential has an average rating of “Hold” and an average target price of $57.00.
The business also recently disclosed a semiannual dividend, which will be paid on Friday, May 25th. Investors of record on Tuesday, April 3rd will be issued a $0.9068 dividend. The ex-dividend date of this dividend is Monday, April 2nd. This represents a yield of 3.4%. This is an increase from Prudential’s previous semiannual dividend of $0.38. Prudential’s dividend payout ratio is presently 48.40%.
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Prudential Company Profile
Prudential plc, together with its subsidiaries, provides a range of retail financial products and services, and asset management services in Asia, the United States, the United Kingdom, Europe, and Africa. The company offers health and protection, as well as other life insurance products, including participating business and mutual funds; and personal lines property and casualty insurance, group insurance, and institutional fund management services.
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