Bank of Montreal Can Buys 968,317 Shares of Prudential plc (NYSE:PUK)

Bank of Montreal Can boosted its stake in shares of Prudential plc (NYSE:PUK - Free Report) by 165.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,554,255 shares of the financial services provider's stock after acquiring an additional 968,317 shares during the quarter. Bank of Montreal Can owned 0.12% of Prudential worth $24,775,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in PUK. ABC Arbitrage SA bought a new stake in Prudential during the 4th quarter worth about $16,207,000. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Prudential by 1,133.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,051,231 shares of the financial services provider's stock valued at $16,757,000 after buying an additional 965,985 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Prudential by 321.8% in the fourth quarter. JPMorgan Chase & Co. now owns 1,236,697 shares of the financial services provider's stock valued at $19,713,000 after purchasing an additional 943,487 shares in the last quarter. Madison Investment Advisors LLC bought a new stake in shares of Prudential in the fourth quarter worth $1,917,000. Finally, Raymond James Financial Inc. bought a new position in Prudential in the fourth quarter valued at approximately $1,355,000. 1.90% of the stock is owned by institutional investors.

Prudential Trading Up 4.0 %

NYSE PUK traded up $0.81 during trading on Thursday, reaching $21.03. The company's stock had a trading volume of 623,867 shares, compared to its average volume of 1,035,939. The firm has a market capitalization of $27.60 billion, a price-to-earnings ratio of 9.05, a price-to-earnings-growth ratio of 0.41 and a beta of 1.00. The firm has a 50 day moving average price of $19.40 and a 200 day moving average price of $17.51. Prudential plc has a 12 month low of $14.39 and a 12 month high of $22.01.

Prudential Increases Dividend

The company also recently disclosed a dividend, which will be paid on Wednesday, May 14th. Shareholders of record on Friday, March 28th will be paid a dividend of $0.3258 per share. This is an increase from Prudential's previous dividend of $0.24. The ex-dividend date is Friday, March 28th. Prudential's dividend payout ratio is presently 28.02%.

Analyst Ratings Changes

A number of research firms recently commented on PUK. StockNews.com upgraded Prudential from a "sell" rating to a "hold" rating in a report on Saturday, March 22nd. Citigroup reaffirmed a "buy" rating on shares of Prudential in a report on Tuesday, April 1st. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy".

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.