Naviter Wealth LLC Sells 1,108 Shares of Prudential plc (NYSE:PUK)

Naviter Wealth LLC cut its holdings in shares of Prudential plc (NYSE:PUK) by 3.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 33,988 shares of the financial services provider’s stock after selling 1,108 shares during the period. Naviter Wealth LLC’s holdings in Prudential were worth $635,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Creative Planning boosted its position in Prudential by 14.2% during the 3rd quarter. Creative Planning now owns 80,764 shares of the financial services provider’s stock valued at $1,497,000 after acquiring an additional 10,013 shares in the last quarter. First Affirmative Financial Network purchased a new stake in shares of Prudential during the 3rd quarter worth $201,000. Sanctuary Advisors LLC bought a new stake in Prudential during the second quarter valued at about $678,000. Northwestern Mutual Wealth Management Co. grew its stake in Prudential by 43.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 8,254 shares of the financial services provider’s stock valued at $151,000 after purchasing an additional 2,507 shares during the last quarter. Finally, AQR Capital Management LLC bought a new position in Prudential in the second quarter worth about $364,000. 1.90% of the stock is owned by hedge funds and other institutional investors.

Prudential Trading Down 1.2 %

NYSE:PUK opened at $17.10 on Friday. The company’s 50 day moving average is $17.32 and its two-hundred day moving average is $18.15. The company has a market cap of $23.51 billion, a PE ratio of 7.99, a P/E/G ratio of 0.50 and a beta of 1.22. Prudential plc has a twelve month low of $15.77 and a twelve month high of $23.73.

Prudential Cuts Dividend

The company also recently announced a Semi-Annual dividend, which will be paid on Wednesday, October 23rd. Investors of record on Friday, September 6th will be paid a $0.1368 dividend. The ex-dividend date of this dividend is Friday, September 6th. Prudential’s dividend payout ratio (DPR) is 12.62%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PUK. Deutsche Bank Aktiengesellschaft cut shares of Prudential from a “buy” rating to a “hold” rating in a report on Monday, August 5th. StockNews.com raised shares of Prudential from a “sell” rating to a “hold” rating in a report on Wednesday, August 28th. Barclays upgraded Prudential to a “strong-buy” rating in a report on Tuesday. Finally, BNP Paribas upgraded Prudential from a “neutral” rating to an “outperform” rating in a research note on Wednesday, June 26th.

About Prudential

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.