Cubist Systematic Strategies LLC Has $2.81 Million Position in Prudential plc (NYSE:PUK)

Cubist Systematic Strategies LLC lessened its stake in Prudential plc (NYSE:PUK - Free Report) by 42.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 153,452 shares of the financial services provider's stock after selling 112,725 shares during the quarter. Cubist Systematic Strategies LLC's holdings in Prudential were worth $2,811,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in PUK. Covenant Partners LLC boosted its stake in Prudential by 5.9% in the 4th quarter. Covenant Partners LLC now owns 27,498 shares of the financial services provider's stock worth $617,000 after purchasing an additional 1,525 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of Prudential by 15.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,011,551 shares of the financial services provider's stock worth $45,159,000 after buying an additional 274,674 shares in the last quarter. Park Avenue Securities LLC raised its position in Prudential by 24.6% in the 1st quarter. Park Avenue Securities LLC now owns 13,683 shares of the financial services provider's stock valued at $264,000 after buying an additional 2,701 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Prudential by 12.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 51,442 shares of the financial services provider's stock valued at $991,000 after buying an additional 5,640 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new stake in Prudential in the 1st quarter valued at approximately $75,000. Institutional investors own 1.90% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. StockNews.com upgraded shares of Prudential from a "sell" rating to a "hold" rating in a report on Wednesday, August 28th. Deutsche Bank Aktiengesellschaft cut shares of Prudential from a "buy" rating to a "hold" rating in a research report on Monday, August 5th. Finally, BNP Paribas upgraded Prudential from a "neutral" rating to an "outperform" rating in a report on Wednesday, June 26th.

Prudential Price Performance

PUK traded down $0.22 during trading on Friday, reaching $17.73. 877,818 shares of the stock were exchanged, compared to its average volume of 1,839,386. The stock's 50 day moving average price is $17.22 and its two-hundred day moving average price is $18.20. Prudential plc has a twelve month low of $15.77 and a twelve month high of $23.73.

Prudential Cuts Dividend

The company also recently disclosed a Semi-Annual dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Friday, September 6th will be paid a dividend of $0.1368 per share. The ex-dividend date of this dividend is Friday, September 6th.

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.