Short Interest in Prudential plc (NYSE:PUK) Drops By 21.1%

Prudential plc (NYSE:PUK) saw a large decline in short interest in December. As of December 31st, there was short interest totalling 246,800 shares, a decline of 21.1% from the December 15th total of 312,700 shares. Based on an average daily volume of 1,050,000 shares, the days-to-cover ratio is presently 0.2 days.

Hedge Funds Weigh In On Prudential

Several hedge funds have recently bought and sold shares of PUK. Crossmark Global Holdings Inc. increased its position in shares of Prudential by 0.8% in the fourth quarter. Crossmark Global Holdings Inc. now owns 111,486 shares of the financial services provider’s stock valued at $1,777,000 after buying an additional 935 shares in the last quarter. Ballentine Partners LLC purchased a new position in Prudential during the 4th quarter valued at about $163,000. GAMMA Investing LLC increased 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 valued at $37,000 after acquiring an additional 1,127 shares in the last quarter. JPMorgan Chase & Co. raised its position in Prudential by 353.1% during the third quarter. JPMorgan Chase & Co. now owns 293,210 shares of the financial services provider’s stock worth $5,436,000 after acquiring an additional 228,499 shares during the last quarter. Finally, Barclays PLC purchased a new stake in shares of Prudential in the third quarter valued at about $556,000. 1.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PUK has been the subject of several recent analyst reports. StockNews.com cut Prudential from a “hold” rating to a “sell” rating in a report on Monday, November 25th. Barclays raised Prudential to a “strong-buy” rating in a report on Tuesday, October 15th.

Prudential Trading Up 3.6 %

Prudential stock traded up $0.55 during mid-day trading on Friday, reaching $15.83. The company had a trading volume of 1,144,815 shares, compared to its average volume of 1,146,310. The stock’s 50-day simple moving average is $15.98 and its 200-day simple moving average is $16.95. Prudential has a 1 year low of $14.39 and a 1 year high of $22.07.

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.