Prudential Public Limited Company (NYSE:PUK) Shares Sold by ABC Arbitrage SA

Key Points

• ABC Arbitrage SA has reduced its stake in Prudential Public Limited Company by 29.3%, now holding 718,357 shares, making it the fund's 8th largest position.
• Several institutional investors, including Bank of Montreal and JPMorgan Chase, have significantly increased their holdings in Prudential during the fourth quarter.
• Wall Street analysts have a consensus rating of "Buy"** for Prudential, with Morgan Stanley and Barclays reaffirming their "overweight" ratings in recent reports.

ABC Arbitrage SA trimmed its position in Prudential Public Limited Company (NYSE:PUK - Free Report) by 29.3% in the first quarter, according to its most recent filing with the SEC. The fund owned 718,357 shares of the financial services provider's stock after selling 298,401 shares during the period. Prudential Public accounts for approximately 2.9% of ABC Arbitrage SA's investment portfolio, making the stock its 8th biggest position. ABC Arbitrage SA owned 0.05% of Prudential Public worth $15,445,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of PUK. American Century Companies Inc. lifted its stake in shares of Prudential Public by 8.5% in the 4th quarter. American Century Companies Inc. now owns 227,177 shares of the financial services provider's stock valued at $3,621,000 after acquiring an additional 17,878 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Prudential Public 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 during the period. O Shaughnessy Asset Management LLC acquired a new stake in Prudential Public in the fourth quarter valued at $305,000. National Bank of Canada FI increased its holdings in Prudential Public by 52.6% in the fourth quarter. National Bank of Canada FI now owns 3,042 shares of the financial services provider's stock valued at $48,000 after purchasing an additional 1,049 shares during the period. Finally, Quadrant Capital Group LLC increased its holdings in Prudential Public by 47.8% in the fourth quarter. Quadrant Capital Group LLC now owns 12,595 shares of the financial services provider's stock valued at $201,000 after purchasing an additional 4,076 shares during the period. 1.90% of the stock is currently owned by institutional investors.

Prudential Public Trading Down 0.2%

Prudential Public stock traded down $0.05 during trading hours on Friday, reaching $25.91. 576,834 shares of the company's stock were exchanged, compared to its average volume of 873,923. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.21. The firm's 50 day simple moving average is $24.68 and its 200 day simple moving average is $21.56. Prudential Public Limited Company has a twelve month low of $14.39 and a twelve month high of $26.09. The firm has a market capitalization of $33.42 billion, a PE ratio of 11.17, a PEG ratio of 0.75 and a beta of 1.06.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Wall Street Zen upgraded Prudential Public from a "hold" rating to a "buy" rating in a report on Saturday, June 7th. Morgan Stanley restated an "overweight" rating on shares of Prudential Public in a report on Tuesday, May 13th. Deutsche Bank Aktiengesellschaft upgraded Prudential Public from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Finally, Barclays reiterated an "overweight" rating on shares of Prudential Public in a report on Thursday, May 22nd. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of "Buy".

Prudential Public 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.