Merit Financial Group LLC Buys Shares of 12,313 Prudential plc (NYSE:PUK)

Merit Financial Group LLC acquired a new stake in Prudential plc (NYSE:PUK - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 12,313 shares of the financial services provider's stock, valued at approximately $265,000.

Other institutional investors have also bought and sold shares of the company. National Bank of Canada FI raised its holdings in Prudential 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 acquiring an additional 1,049 shares during the period. Smartleaf Asset Management LLC increased its holdings in shares of Prudential by 417.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,856 shares of the financial services provider's stock worth $29,000 after purchasing an additional 1,497 shares during the period. Parallel Advisors LLC increased its holdings in shares of Prudential by 28.8% in the first quarter. Parallel Advisors LLC now owns 7,162 shares of the financial services provider's stock worth $154,000 after purchasing an additional 1,602 shares during the period. Whipplewood Advisors LLC bought a new position in shares of Prudential in the fourth quarter worth $30,000. Finally, Mariner LLC increased its holdings in shares of Prudential by 14.1% in the fourth quarter. Mariner LLC now owns 20,399 shares of the financial services provider's stock worth $325,000 after purchasing an additional 2,514 shares during the period. Hedge funds and other institutional investors own 1.90% of the company's stock.

Prudential Price Performance

NYSE PUK traded up $0.53 during trading on Monday, hitting $24.49. 1,040,544 shares of the company's stock traded hands, compared to its average volume of 1,046,160. The stock has a fifty day moving average of $22.14 and a two-hundred day moving average of $19.18. Prudential plc has a 12-month low of $14.39 and a 12-month high of $24.64. The firm has a market cap of $31.88 billion, a P/E ratio of 10.55, a PEG ratio of 0.41 and a beta of 1.02.

Prudential Increases Dividend

The company also recently announced a dividend, which was paid on Wednesday, May 14th. Stockholders of record on Friday, March 28th were issued a dividend of $0.3258 per share. This is a positive change from Prudential's previous dividend of $0.24. The ex-dividend date of this dividend was Friday, March 28th. Prudential's dividend payout ratio is currently 28.02%.

Wall Street Analysts Forecast Growth

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

About Prudential

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.