Prudential (NYSE:PUK) Sees Large Volume Increase

Prudential plc (NYSE:PUK) shares saw an uptick in trading volume on Monday . 2,763,449 shares traded hands during mid-day trading, an increase of 220% from the previous session’s volume of 863,996 shares.The stock last traded at $16.44 and had previously closed at $16.48.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on PUK shares. BNP Paribas upgraded shares of Prudential from a “neutral” rating to an “outperform” rating in a research note on Wednesday, June 26th. StockNews.com raised Prudential from a “sell” rating to a “hold” rating in a research report on Wednesday, August 28th. Finally, Deutsche Bank Aktiengesellschaft lowered Prudential from a “buy” rating to a “hold” rating in a research report on Monday, August 5th.

Prudential Trading Up 0.2 %

The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.03 and a current ratio of 0.04. The business has a 50 day moving average of $17.39 and a 200-day moving average of $18.49.

Prudential Cuts Dividend

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

Institutional Trading of Prudential

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. grew its position in Prudential by 15.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,011,551 shares of the financial services provider’s stock valued at $45,159,000 after buying an additional 274,674 shares during the last quarter. Optiver Holding B.V. acquired a new position in shares of Prudential during the fourth quarter worth about $5,108,000. Natixis Advisors LLC raised its holdings in Prudential by 35.9% during the second quarter. Natixis Advisors LLC now owns 593,789 shares of the financial services provider’s stock worth $10,878,000 after purchasing an additional 156,708 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Prudential by 16.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 913,220 shares of the financial services provider’s stock valued at $20,499,000 after purchasing an additional 128,949 shares during the period. Finally, Marshall Wace LLP boosted its holdings in Prudential by 13.5% in the 2nd quarter. Marshall Wace LLP now owns 1,076,579 shares of the financial services provider’s stock valued at $19,723,000 after purchasing an additional 128,124 shares in the last quarter. 1.90% of the stock is owned by hedge funds and other institutional investors.

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.