Causeway Capital Management LLC Increases Position in Prudential Public Limited Company $PUK

Key Points

• Causeway Capital Management LLC increased its holdings in Prudential Public Limited Company by 10.1%, now owning 2,353,670 shares, which represent 1.1% of its total portfolio.
• Several other institutional investors also acquired shares in Prudential, with notable transactions including ICONIQ Capital purchasing a position worth $292,000 in Q1.
• Analysts have upgraded Prudential from a "hold" rating to a "buy" rating, contributing to a current consensus rating of "Buy" from four analysts.

Causeway Capital Management LLC lifted its holdings in shares of Prudential Public Limited Company (NYSE:PUK - Free Report) by 10.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,353,670 shares of the financial services provider's stock after acquiring an additional 216,828 shares during the quarter. Prudential Public accounts for about 1.1% of Causeway Capital Management LLC's holdings, making the stock its 25th largest position. Causeway Capital Management LLC owned about 0.18% of Prudential Public worth $50,604,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of PUK. ICONIQ Capital LLC purchased a new position in shares of Prudential Public in the 1st quarter worth about $292,000. SVB Wealth LLC purchased a new position in Prudential Public in the first quarter valued at about $60,000. Smartleaf Asset Management LLC grew its position in shares of Prudential Public by 38.1% during the 1st quarter. Smartleaf Asset Management LLC now owns 2,563 shares of the financial services provider's stock valued at $55,000 after acquiring an additional 707 shares during the period. Compound Planning Inc. bought a new stake in shares of Prudential Public in the 1st quarter worth approximately $317,000. Finally, Northern Trust Corp lifted its stake in Prudential Public by 8.3% in the first quarter. Northern Trust Corp now owns 1,878,126 shares of the financial services provider's stock valued at $40,380,000 after purchasing an additional 144,354 shares during the last quarter. Institutional investors own 1.90% of the company's stock.

Analyst Upgrades and Downgrades

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

Prudential Public Stock Performance

Shares of PUK opened at $26.77 on Tuesday. Prudential Public Limited Company has a 12-month low of $14.39 and a 12-month high of $27.20. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.21. The company has a market cap of $34.49 billion, a PE ratio of 11.54, a price-to-earnings-growth ratio of 0.78 and a beta of 1.06. The stock has a 50-day moving average price of $25.33 and a 200-day moving average price of $22.41.

Prudential Public 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.

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