Comerica Bank lowered its stake in shares of Prudential Public Limited (NYSE:PUK) by 3.2% during the 1st quarter, Holdings Channel reports. The institutional investor owned 77,525 shares of the financial services provider’s stock after selling 2,600 shares during the quarter. Comerica Bank’s holdings in Prudential Public were worth $3,360,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in PUK. Parallel Advisors LLC boosted its stake in Prudential Public by 337.5% during the first quarter. Parallel Advisors LLC now owns 1,645 shares of the financial services provider’s stock worth $66,000 after buying an additional 1,269 shares during the period. Eagle Asset Management Inc. boosted its stake in Prudential Public by 8.0% during the first quarter. Eagle Asset Management Inc. now owns 9,691 shares of the financial services provider’s stock worth $389,000 after buying an additional 722 shares during the period. Dearborn Partners LLC purchased a new position in Prudential Public during the first quarter worth $231,000. Janus Henderson Group PLC boosted its stake in Prudential Public by 14.7% during the first quarter. Janus Henderson Group PLC now owns 9,199 shares of the financial services provider’s stock worth $370,000 after buying an additional 1,178 shares during the period. Finally, First Republic Investment Management Inc. boosted its stake in Prudential Public by 16.5% during the first quarter. First Republic Investment Management Inc. now owns 46,247 shares of the financial services provider’s stock worth $1,860,000 after buying an additional 6,557 shares during the period. Hedge funds and other institutional investors own 1.65% of the company’s stock.
PUK has been the subject of several recent analyst reports. Zacks Investment Research raised shares of Prudential Public from a “sell” rating to a “hold” rating in a research note on Tuesday, January 22nd. Royal Bank of Canada reissued a “neutral” rating on shares of Prudential Public in a research note on Wednesday, March 13th. Finally, ValuEngine raised shares of Prudential Public from a “sell” rating to a “hold” rating in a research note on Friday. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold”.
Shares of PUK opened at $42.23 on Monday. The firm has a market cap of $54.75 billion, a PE ratio of 8.55, a P/E/G ratio of 1.11 and a beta of 1.37. Prudential Public Limited has a 12-month low of $33.31 and a 12-month high of $52.65. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.44.
The business also recently announced a semiannual dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, March 29th will be paid a dividend of $0.8937 per share. This is a positive change from Prudential Public’s previous semiannual dividend of $0.16. This represents a dividend yield of 4.22%. The ex-dividend date is Thursday, March 28th. Prudential Public’s payout ratio is currently 36.23%.
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About Prudential Public
Prudential plc, through 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; mutual funds; and personal lines property and casualty insurance, group insurance, and institutional fund management services.
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