Prudential plc (NYSE:PUK) Short Interest Update

Prudential plc (NYSE:PUK) was the recipient of a large drop in short interest during the month of September. As of September 30th, there was short interest totalling 288,100 shares, a drop of 50.5% from the September 15th total of 582,300 shares. Based on an average trading volume of 1,190,000 shares, the short-interest ratio is presently 0.2 days.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Prudential

A number of institutional investors and hedge funds have recently bought and sold shares of PUK. Goldman Sachs Group Inc. raised its position in Prudential by 15.8% during 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 purchasing an additional 274,674 shares in the last quarter. Natixis Advisors LLC increased its holdings in shares of Prudential by 35.9% in the 2nd quarter. Natixis Advisors LLC now owns 593,789 shares of the financial services provider’s stock valued at $10,878,000 after acquiring an additional 156,708 shares during the period. Marshall Wace LLP increased its holdings in shares of 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 acquiring an additional 128,124 shares during the period. Bank of Montreal Can increased its holdings in shares of Prudential by 15.0% in the 2nd quarter. Bank of Montreal Can now owns 795,969 shares of the financial services provider’s stock valued at $15,418,000 after acquiring an additional 103,625 shares during the period. Finally, Envestnet Asset Management Inc. increased its holdings in shares of Prudential by 8.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 918,639 shares of the financial services provider’s stock valued at $16,829,000 after acquiring an additional 72,093 shares during the period. 1.90% of the stock is owned by institutional investors.

Prudential Trading Down 1.3 %

NYSE PUK traded down $0.22 on Friday, reaching $17.73. 877,818 shares of the stock traded hands, compared to its average volume of 949,541. The company has a fifty day moving average price of $17.20 and a 200-day moving average price of $18.21. Prudential has a 12 month low of $15.77 and a 12 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. Shareholders of record on Friday, September 6th will be given a dividend of $0.1368 per share. The ex-dividend date is Friday, September 6th.

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.