Point72 Asset Management L.P. Takes $1.28 Million Position in Prudential plc (NYSE:PUK)

Point72 Asset Management L.P. bought a new position in Prudential plc (NYSE:PUK) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 69,100 shares of the financial services provider’s stock, valued at approximately $1,281,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Marshall Wace LLP raised its holdings in shares of Prudential by 13.5% during the 2nd quarter. Marshall Wace LLP now owns 1,076,579 shares of the financial services provider’s stock worth $19,723,000 after acquiring an additional 128,124 shares in the last quarter. Mediolanum International Funds Ltd purchased a new stake in Prudential during the third quarter valued at $19,505,000. Envestnet Asset Management Inc. lifted its position in Prudential by 8.5% during the second quarter. Envestnet Asset Management Inc. now owns 918,639 shares of the financial services provider’s stock valued at $16,829,000 after purchasing an additional 72,093 shares during the last quarter. Bank of Montreal Can grew its stake 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 worth $15,418,000 after buying an additional 103,625 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Prudential by 0.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 762,032 shares of the financial services provider’s stock worth $13,960,000 after buying an additional 4,082 shares in the last quarter. 1.90% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Prudential Stock Performance

Prudential stock opened at $17.05 on Wednesday. Prudential plc has a 12-month low of $15.10 and a 12-month high of $22.93. The firm has a 50-day moving average price of $16.93 and a 200-day moving average price of $17.52.

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.