ABC Arbitrage SA Purchases Shares of 1,016,758 Prudential plc (NYSE:PUK)

ABC Arbitrage SA purchased a new stake in Prudential plc (NYSE:PUK - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,016,758 shares of the financial services provider's stock, valued at approximately $16,207,000. Prudential comprises 2.3% of ABC Arbitrage SA's investment portfolio, making the stock its 11th largest position. ABC Arbitrage SA owned about 0.08% of Prudential at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Crossmark Global Holdings Inc. raised its stake in shares of Prudential by 0.8% in the 4th quarter. Crossmark Global Holdings Inc. now owns 111,486 shares of the financial services provider's stock valued at $1,777,000 after purchasing an additional 935 shares in the last quarter. GAMMA Investing LLC raised its stake in Prudential by 95.8% during the fourth quarter. GAMMA Investing LLC now owns 2,303 shares of the financial services provider's stock valued at $37,000 after buying an additional 1,127 shares in the last quarter. Advisors Preferred LLC bought a new position in Prudential during the 4th quarter worth approximately $31,000. Pathstone Holdings LLC grew its position in shares of Prudential by 0.5% in the 3rd quarter. Pathstone Holdings LLC now owns 425,824 shares of the financial services provider's stock worth $7,895,000 after acquiring an additional 1,995 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Prudential by 51.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 7,057 shares of the financial services provider's stock valued at $131,000 after acquiring an additional 2,394 shares during the last quarter. Institutional investors and hedge funds own 1.90% of the company's stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Prudential from a "sell" rating to a "hold" rating in a report on Wednesday, January 22nd.

Prudential Stock Performance

PUK stock traded down $0.51 during midday trading on Wednesday, reaching $17.90. The company had a trading volume of 818,926 shares, compared to its average volume of 1,098,316. The stock has a 50 day moving average price of $16.25 and a 200 day moving average price of $16.70. Prudential plc has a fifty-two week low of $14.39 and a fifty-two week high of $21.33.

About Prudential

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.