Prudential plc (NYSE:PUK) Short Interest Update

Prudential plc (NYSE:PUK - Get Free Report) was the target of a large increase in short interest during the month of March. As of March 31st, there was short interest totalling 1,890,000 shares, an increase of 46.5% from the March 15th total of 1,290,000 shares. Approximately 0.1% of the company's stock are sold short. Based on an average daily volume of 1,090,000 shares, the short-interest ratio is currently 1.7 days.

Institutional Trading of Prudential

A number of hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its position in Prudential by 353.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 293,210 shares of the financial services provider's stock valued at $5,436,000 after buying an additional 228,499 shares during the last quarter. GAMMA Investing LLC grew its position in Prudential by 95.8% during the fourth quarter. GAMMA Investing LLC now owns 2,303 shares of the financial services provider's stock worth $37,000 after buying an additional 1,127 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Prudential by 62.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 92,918 shares of the financial services provider's stock valued at $1,481,000 after purchasing an additional 35,811 shares in the last quarter. ABC Arbitrage SA purchased a new stake in shares of Prudential in the 4th quarter worth about $16,207,000. Finally, Barclays PLC acquired a new position in shares of Prudential during the 3rd quarter worth approximately $556,000. 1.90% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently issued reports on PUK shares. Citigroup reaffirmed a "buy" rating on shares of Prudential in a research report on Tuesday, April 1st. StockNews.com upgraded shares of Prudential from a "sell" rating to a "hold" rating in a research report on Saturday, March 22nd. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy".

Prudential Stock Up 1.3 %

NYSE:PUK traded up $0.28 during trading hours on Wednesday, reaching $21.26. 622,732 shares of the company's stock were exchanged, compared to its average volume of 1,033,785. The firm has a market capitalization of $27.90 billion, a price-to-earnings ratio of 9.16, a P/E/G ratio of 0.41 and a beta of 1.00. Prudential has a 1-year low of $14.39 and a 1-year high of $22.01. The company has a 50-day moving average of $19.65 and a 200 day moving average of $17.56.

Prudential Increases Dividend

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