Madison Investment Advisors LLC Invests $1.92 Million in Prudential plc (NYSE:PUK)

Madison Investment Advisors LLC bought a new position in Prudential plc (NYSE:PUK - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 120,277 shares of the financial services provider's stock, valued at approximately $1,917,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC increased its position in shares of Prudential by 417.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,856 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 1,497 shares during the period. Whipplewood Advisors LLC bought a new stake in shares of Prudential in the fourth quarter worth about $30,000. Advisors Preferred LLC purchased a new position in Prudential during the 4th quarter valued at about $31,000. GAMMA Investing LLC raised its position in Prudential by 95.8% during the 4th quarter. GAMMA Investing LLC now owns 2,303 shares of the financial services provider's stock valued at $37,000 after purchasing an additional 1,127 shares during the last quarter. Finally, Ballentine Partners LLC purchased a new stake in Prudential in the 4th quarter worth approximately $163,000. 1.90% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com raised Prudential from a "sell" rating to a "hold" rating in a research note on Saturday.

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Prudential Stock Up 0.0 %

Shares of NYSE:PUK traded up $0.01 on Wednesday, hitting $21.46. The company had a trading volume of 1,066,782 shares, compared to its average volume of 1,018,948. Prudential plc has a 1 year low of $14.39 and a 1 year high of $21.73. The firm's 50-day simple moving average is $18.00 and its two-hundred day simple moving average is $17.12. The firm has a market capitalization of $28.23 billion, a price-to-earnings ratio of 9.25, a P/E/G ratio of 0.41 and a beta of 1.21.

Prudential Increases Dividend

The company also recently disclosed a dividend, which will be paid on Wednesday, May 14th. Shareholders of record on Friday, March 28th will be given a dividend of $0.3258 per share. This is a boost from Prudential's previous dividend of $0.24. The ex-dividend date is Friday, March 28th. Prudential's payout ratio 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.