Bank of New York Mellon Corp Has $908,000 Stake in Prudential plc (NYSE:PUK)

Bank of New York Mellon Corp lowered its holdings in Prudential plc (NYSE:PUK - Free Report) by 21.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,990 shares of the financial services provider's stock after selling 15,450 shares during the period. Bank of New York Mellon Corp's holdings in Prudential were worth $908,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Advisors Preferred LLC purchased a new stake in shares of Prudential during the fourth quarter valued at $31,000. GAMMA Investing LLC raised its holdings in Prudential by 95.8% during the 4th 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. Ballentine Partners LLC purchased a new stake in Prudential during the fourth quarter valued at about $163,000. Entropy Technologies LP acquired a new position in shares of Prudential in the fourth quarter worth about $188,000. Finally, Jane Street Group LLC purchased a new position in shares of Prudential in the third quarter worth approximately $199,000. 1.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Prudential from a "sell" rating to a "hold" rating in a research note on Saturday, March 22nd.

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Prudential Trading Down 2.1 %

NYSE PUK traded down $0.46 during trading on Friday, reaching $21.46. 1,002,262 shares of the company's stock were exchanged, compared to its average volume of 1,021,681. Prudential plc has a fifty-two week low of $14.39 and a fifty-two week high of $22.01. The company's fifty day simple moving average is $18.37 and its 200-day simple moving average is $17.22. The firm has a market capitalization of $28.24 billion, a PE ratio of 9.25, a P/E/G ratio of 0.41 and a beta of 1.21.

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 issued 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 dividend payout ratio (DPR) is currently 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.