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

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

A number of other hedge funds have also made changes to their positions in the stock. Northern Trust Corp increased its stake in shares of Prudential by 2.0% during the fourth quarter. Northern Trust Corp now owns 1,733,772 shares of the financial services provider's stock valued at $27,636,000 after acquiring an additional 34,344 shares during the period. Bank of Montreal Can boosted its holdings in Prudential by 165.3% during the fourth quarter. Bank of Montreal Can now owns 1,554,255 shares of the financial services provider's stock worth $24,775,000 after buying an additional 968,317 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Prudential by 321.8% during the fourth quarter. JPMorgan Chase & Co. now owns 1,236,697 shares of the financial services provider's stock worth $19,713,000 after buying an additional 943,487 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Prudential by 1,133.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,051,231 shares of the financial services provider's stock worth $16,757,000 after buying an additional 965,985 shares in the last quarter. Finally, ABC Arbitrage SA bought a new stake in Prudential during the fourth quarter worth approximately $16,207,000. Institutional investors and hedge funds own 1.90% of the company's stock.

Prudential Price Performance

Prudential stock traded down $0.37 during midday trading on Friday, reaching $23.95. The stock had a trading volume of 1,021,677 shares, compared to its average volume of 1,043,950. The firm's fifty day simple moving average is $22.02 and its two-hundred day simple moving average is $19.09. Prudential plc has a twelve month low of $14.39 and a twelve month high of $24.38. The firm has a market cap of $31.18 billion, a price-to-earnings ratio of 10.32, a PEG ratio of 0.41 and a beta of 1.02.

Prudential Increases Dividend

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

Analyst Ratings Changes

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

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.