Prudential Public Limited Company (NYSE:PUK) Stock Position Reduced 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 holdings in shares of Prudential Public Limited Company (NYSE:PUK - Free Report) by 29.3% in the 1st quarter, according to its most recent disclosure 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 makes up approximately 2.9% of ABC Arbitrage SA's holdings, making the stock its 8th largest position. ABC Arbitrage SA owned approximately 0.05% of Prudential Public worth $15,445,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. National Bank of Canada FI increased its stake in Prudential Public by 52.6% during the 4th 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 in the last quarter. Bruce G. Allen Investments LLC grew its holdings in shares of Prudential Public by 70.4% during the first quarter. Bruce G. Allen Investments LLC now owns 2,759 shares of the financial services provider's stock valued at $59,000 after buying an additional 1,140 shares during the last quarter. Allianz SE bought a new stake in shares of Prudential Public during the first quarter valued at approximately $88,000. Cetera Trust Company N.A raised its holdings in Prudential Public by 60.8% in the 1st quarter. Cetera Trust Company N.A now owns 5,620 shares of the financial services provider's stock worth $121,000 after acquiring an additional 2,125 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in Prudential Public by 182.6% in the 1st quarter. GAMMA Investing LLC now owns 6,508 shares of the financial services provider's stock worth $140,000 after acquiring an additional 4,205 shares during the last quarter. 1.90% of the stock is currently owned by hedge funds and other institutional investors.

Prudential Public Stock Performance

Shares of NYSE PUK traded up $0.41 during midday trading on Wednesday, hitting $25.96. 797,405 shares of the company's stock traded hands, compared to its average volume of 886,310. The firm has a fifty day moving average of $24.49 and a 200 day moving average of $21.39. Prudential Public Limited Company has a 1 year low of $14.39 and a 1 year high of $25.97. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.04 and a current ratio of 0.04. The stock has a market capitalization of $33.48 billion, a price-to-earnings ratio of 11.19, a price-to-earnings-growth ratio of 0.74 and a beta of 1.06.

Analyst Upgrades and Downgrades

PUK has been the subject of a number of research analyst reports. Wall Street Zen raised Prudential Public from a "hold" rating to a "buy" rating in a report on Saturday, June 7th. Barclays reissued an "overweight" rating on shares of Prudential Public in a research report on Thursday, May 22nd. Morgan Stanley reaffirmed an "overweight" rating on shares of Prudential Public in a report on Tuesday, May 13th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Prudential Public from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently 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.