Prudential plc (NYSE:PUK) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. decreased its holdings in shares of Prudential plc (NYSE:PUK - Free Report) by 30.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 636,626 shares of the financial services provider's stock after selling 285,046 shares during the quarter. Envestnet Asset Management Inc.'s holdings in Prudential were worth $10,148,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in PUK. Smartleaf Asset Management LLC increased its position in Prudential by 417.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,856 shares of the financial services provider's stock worth $29,000 after buying an additional 1,497 shares during the period. Whipplewood Advisors LLC acquired a new stake in Prudential during the 4th quarter worth $30,000. Advisors Preferred LLC purchased a new position in Prudential during the 4th quarter worth $31,000. GAMMA Investing LLC increased its stake in Prudential by 95.8% in the fourth quarter. GAMMA Investing LLC now owns 2,303 shares of the financial services provider's stock valued at $37,000 after purchasing an additional 1,127 shares during the period. Finally, National Bank of Canada FI grew its holdings in shares of Prudential by 52.6% during the fourth quarter. National Bank of Canada FI now owns 3,042 shares of the financial services provider's stock worth $48,000 after buying an additional 1,049 shares during the last quarter. 1.90% of the stock is currently owned by hedge funds and other institutional investors.

Prudential Trading Up 1.2 %

Shares of Prudential stock traded up $0.27 during mid-day trading on Thursday, hitting $21.50. 263,278 shares of the stock were exchanged, compared to its average volume of 1,032,919. The company has a 50-day simple moving average of $19.71 and a 200 day simple moving average of $17.59. The stock has a market capitalization of $28.21 billion, a price-to-earnings ratio of 9.28, a price-to-earnings-growth ratio of 0.41 and a beta of 1.00. Prudential plc has a twelve month low of $14.39 and a twelve month high of $22.01.

Prudential Increases Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Friday, March 28th. This is a positive change from Prudential's previous dividend of $0.24. Prudential's dividend payout ratio is currently 28.02%.

Analyst Upgrades and Downgrades

PUK has been the topic of a number of recent research reports. Citigroup reissued a "buy" rating on shares of Prudential in a report on Tuesday, April 1st. StockNews.com upgraded shares of Prudential from a "sell" rating to a "hold" rating in a research report on Saturday, March 22nd. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Prudential has a consensus rating of "Moderate Buy".

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.