Raymond James Financial Inc. Invests $1.36 Million in Prudential plc (NYSE:PUK)

Raymond James Financial Inc. purchased a new position in shares of Prudential plc (NYSE:PUK - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 85,014 shares of the financial services provider's stock, valued at approximately $1,355,000.

A number of other institutional investors have also modified their holdings of the stock. Charles Schwab Investment Management Inc. boosted its stake in shares of Prudential by 4.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 57,107 shares of the financial services provider's stock worth $1,059,000 after buying an additional 2,455 shares during the last quarter. Verition Fund Management LLC purchased a new stake in Prudential in the 3rd quarter worth approximately $788,000. HighTower Advisors LLC grew its stake in shares of Prudential by 98.2% during the 3rd quarter. HighTower Advisors LLC now owns 40,722 shares of the financial services provider's stock worth $758,000 after purchasing an additional 20,180 shares during the period. Point72 Asset Management L.P. purchased a new position in shares of Prudential during the 3rd quarter valued at approximately $1,281,000. Finally, Quantinno Capital Management LP lifted its stake in shares of Prudential by 21.2% in the 3rd quarter. Quantinno Capital Management LP now owns 206,157 shares of the financial services provider's stock valued at $3,822,000 after purchasing an additional 36,087 shares during the period. Hedge funds and other institutional investors own 1.90% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented on PUK. StockNews.com upgraded shares of Prudential from a "sell" rating to a "hold" rating in a research report on Saturday, March 22nd. Citigroup restated a "buy" rating on shares of Prudential in a research report on Tuesday, April 1st. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Prudential presently has an average rating of "Moderate Buy".

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Prudential Stock Performance

Shares of NYSE:PUK traded down $0.64 during midday trading on Monday, reaching $18.59. 1,955,235 shares of the company's stock traded hands, compared to its average volume of 1,022,145. The company has a market cap of $24.46 billion, a P/E ratio of 8.01, a PEG ratio of 0.41 and a beta of 1.00. The company has a fifty day simple moving average of $18.91 and a two-hundred day simple moving average of $17.39. Prudential plc has a 1 year low of $14.39 and a 1 year high of $22.01.

Prudential Increases Dividend

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