GAMMA Investing LLC Has $3.01 Million Holdings in Prudential plc (NYSE:PUK)

GAMMA Investing LLC lifted its stake in Prudential plc (NYSE:PUK - Free Report) by 5,975.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 139,922 shares of the financial services provider's stock after purchasing an additional 137,619 shares during the period. GAMMA Investing LLC's holdings in Prudential were worth $3,008,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of PUK. Wealth Enhancement Advisory Services LLC increased its position in Prudential by 33.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 79,442 shares of the financial services provider's stock valued at $1,266,000 after acquiring an additional 19,889 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Prudential by 62.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 92,918 shares of the financial services provider's stock valued at $1,481,000 after buying an additional 35,811 shares in the last quarter. ABC Arbitrage SA acquired a new stake in shares of Prudential during the fourth quarter worth $16,207,000. First Trust Advisors LP acquired a new stake in shares of Prudential during the fourth quarter worth $228,000. Finally, Jane Street Group LLC boosted its holdings in Prudential by 575.1% in the fourth quarter. Jane Street Group LLC now owns 72,470 shares of the financial services provider's stock valued at $1,155,000 after acquiring an additional 61,735 shares during the last quarter. 1.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PUK has been the topic of several research reports. Barclays reissued an "overweight" rating on shares of Prudential in a research report on Thursday, May 22nd. Wall Street Zen raised Prudential from a "hold" rating to a "buy" rating in a report on Saturday, June 7th. Citigroup reiterated a "buy" rating on shares of Prudential in a research report on Tuesday, April 1st. Deutsche Bank Aktiengesellschaft upgraded Prudential from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Finally, Morgan Stanley restated an "overweight" rating on shares of Prudential in a research report on Tuesday, May 13th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of "Buy".

Prudential Price Performance

Shares of NYSE PUK traded down $0.37 during mid-day trading on Friday, hitting $23.95. The company had a trading volume of 1,021,677 shares, compared to its average volume of 1,046,186. The firm has a market cap of $31.18 billion, a P/E ratio of 10.32, a PEG ratio of 0.41 and a beta of 1.02. Prudential plc has a 12 month low of $14.39 and a 12 month high of $24.38. The business's 50-day simple moving average is $22.02 and its 200-day simple moving average is $19.11.

Prudential Increases Dividend

The business also recently declared a dividend, which was paid on Wednesday, May 14th. Investors of record on Friday, March 28th were issued a $0.3258 dividend. The ex-dividend date was Friday, March 28th. This is a positive change from Prudential's previous dividend of $0.24. Prudential's dividend payout ratio (DPR) is currently 28.02%.

Prudential 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.