DAVENPORT & Co LLC Cuts Holdings in Prudential Public Limited Company $PUK

Key Points

• DAVENPORT & Co LLC reduced its holdings in Prudential Public Limited Company by 11.1%, bringing its total shares down to 78,110 after selling 9,779 shares in the second quarter.
• Prudential Public announced a $0.1542 dividend, with a yield of 117.0%, set to be paid on October 16th to shareholders of record on September 5th.
• Analysts have given Prudential Public a consensus rating of "Moderate Buy", with five analysts rating it as a Buy, while one has moved it to a Hold rating.

DAVENPORT & Co LLC decreased its position in Prudential Public Limited Company (NYSE:PUK - Free Report) by 11.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 78,110 shares of the financial services provider's stock after selling 9,779 shares during the period. DAVENPORT & Co LLC's holdings in Prudential Public were worth $1,954,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PUK. Smartleaf Asset Management LLC increased its holdings in Prudential Public by 38.1% in the first quarter. Smartleaf Asset Management LLC now owns 2,563 shares of the financial services provider's stock valued at $55,000 after buying an additional 707 shares in the last quarter. SVB Wealth LLC purchased a new stake in shares of Prudential Public during the first quarter worth about $60,000. Geneos Wealth Management Inc. increased its stake in shares of Prudential Public by 86.6% during the first quarter. Geneos Wealth Management Inc. now owns 3,683 shares of the financial services provider's stock worth $79,000 after purchasing an additional 1,709 shares in the last quarter. National Bank of Canada FI increased its stake in shares of Prudential Public by 29.0% during the first quarter. National Bank of Canada FI now owns 3,925 shares of the financial services provider's stock worth $84,000 after purchasing an additional 883 shares in the last quarter. Finally, Allianz SE purchased a new stake in shares of Prudential Public during the first quarter worth about $88,000. Hedge funds and other institutional investors own 1.90% of the company's stock.

Prudential Public Trading Down 2.7%

PUK opened at $27.14 on Friday. The firm has a market capitalization of $34.85 billion, a PE ratio of 11.70, a PEG ratio of 0.80 and a beta of 1.02. Prudential Public Limited Company has a twelve month low of $14.39 and a twelve month high of $28.32. The firm's 50-day moving average price is $26.97 and its 200 day moving average price is $24.28.

Prudential Public Announces Dividend

The company also recently announced a dividend, which will be paid on Thursday, October 16th. Shareholders of record on Friday, September 5th will be issued a $0.1542 dividend. This represents a yield of 117.0%. The ex-dividend date is Friday, September 5th. Prudential Public's payout ratio is presently 12.50%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on PUK shares. UBS Group reissued a "buy" rating on shares of Prudential Public in a research note on Thursday, August 28th. Weiss Ratings reissued a "hold (c)" rating on shares of Prudential Public in a research note on Saturday, September 27th. Barclays reissued an "overweight" rating on shares of Prudential Public in a research note on Monday, September 8th. Finally, Wall Street Zen cut shares of Prudential Public from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th. Five investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy".

About Prudential Public

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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