HighTower Advisors LLC Sells 19,955 Shares of Prudential plc (NYSE:PUK)

HighTower Advisors LLC decreased its holdings in shares of Prudential plc (NYSE:PUK - Free Report) by 49.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,767 shares of the financial services provider's stock after selling 19,955 shares during the period. HighTower Advisors LLC's holdings in Prudential were worth $331,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PUK. JPMorgan Chase & Co. lifted its position in shares of Prudential by 353.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 293,210 shares of the financial services provider's stock worth $5,436,000 after purchasing an additional 228,499 shares during the period. GAMMA Investing LLC lifted its holdings in Prudential by 95.8% in 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. boosted its position in Prudential by 62.7% during 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 acquiring an additional 35,811 shares in the last quarter. ABC Arbitrage SA purchased a new position in shares of Prudential during the 4th quarter worth approximately $16,207,000. Finally, Point72 Asset Management L.P. purchased a new position in shares of Prudential during the 3rd quarter worth approximately $1,281,000. Institutional investors own 1.90% of the company's stock.

Prudential Price Performance

NYSE PUK traded down $1.71 during trading hours on Friday, reaching $19.22. 1,790,154 shares of the company's stock traded hands, compared to its average volume of 1,018,413. Prudential plc has a 52-week low of $14.39 and a 52-week high of $22.01. The firm has a 50-day simple moving average of $18.87 and a 200 day simple moving average of $17.39. The firm has a market cap of $25.28 billion, a PE ratio of 8.28, a PEG ratio of 0.41 and a beta of 1.00.

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Prudential Increases Dividend

The firm also recently announced a dividend, which will be paid on Wednesday, May 14th. Stockholders of record on Friday, March 28th will be issued a dividend of $0.3258 per share. This is a positive change from Prudential's previous dividend of $0.24. The ex-dividend date of this dividend is Friday, March 28th. Prudential's dividend payout ratio (DPR) is presently 28.02%.

Analyst Ratings Changes

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

Prudential 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.