Northern Trust Corp Has $40.38 Million Holdings in Prudential Public Limited Company $PUK

Key Points

• Northern Trust Corp increased its stake in Prudential Public Limited Company by 8.3% in Q1, now owning approximately 1.88 million shares valued at $40.38 million.
• Prudential has declared a dividend of $0.1542 per share to be paid on October 16th, with an impressive yield of 118.0%.
• Recently, several equity analysts have upgraded Prudential's stock rating, with the average rating now being a "Buy".

Northern Trust Corp lifted its holdings in Prudential Public Limited Company (NYSE:PUK - Free Report) by 8.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,878,126 shares of the financial services provider's stock after purchasing an additional 144,354 shares during the period. Northern Trust Corp owned 0.14% of Prudential Public worth $40,380,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Envestnet Asset Management Inc. increased its stake in shares of Prudential Public by 23.2% in the first quarter. Envestnet Asset Management Inc. now owns 784,201 shares of the financial services provider's stock worth $16,860,000 after purchasing an additional 147,575 shares during the period. Natixis Advisors LLC increased its stake in shares of Prudential Public by 7.9% in the first quarter. Natixis Advisors LLC now owns 401,041 shares of the financial services provider's stock worth $8,622,000 after purchasing an additional 29,324 shares during the period. Millennium Management LLC increased its stake in shares of Prudential Public by 15.5% in the fourth quarter. Millennium Management LLC now owns 356,748 shares of the financial services provider's stock worth $5,687,000 after purchasing an additional 47,994 shares during the period. Two Sigma Investments LP grew its position in Prudential Public by 63.1% during the fourth quarter. Two Sigma Investments LP now owns 307,633 shares of the financial services provider's stock worth $4,904,000 after buying an additional 119,069 shares in the last quarter. Finally, American Century Companies Inc. grew its position in Prudential Public by 8.4% during the first quarter. American Century Companies Inc. now owns 246,254 shares of the financial services provider's stock worth $5,294,000 after buying an additional 19,077 shares in the last quarter. 1.90% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PUK has been the topic of a number of recent research reports. Barclays reissued an "overweight" rating on shares of Prudential Public in a research report on Thursday, May 22nd. UBS Group reissued a "buy" rating on shares of Prudential Public in a research report on Thursday, August 28th. Deutsche Bank Aktiengesellschaft raised Prudential Public from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Wall Street Zen downgraded Prudential Public from a "buy" rating to a "hold" rating in a research report on Saturday. Finally, Morgan Stanley reissued an "overweight" rating on shares of Prudential Public in a research report on Tuesday, May 13th. Five investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Buy".

Prudential Public Price Performance

NYSE PUK traded down $0.13 during trading on Wednesday, reaching $26.11. 894,990 shares of the company traded hands, compared to its average volume of 705,872. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.04 and a current ratio of 0.04. The stock's 50 day moving average price is $25.60 and its two-hundred day moving average price is $22.76. The company has a market cap of $33.63 billion, a price-to-earnings ratio of 11.25, a P/E/G ratio of 0.75 and a beta of 1.04. Prudential Public Limited Company has a 1-year low of $14.39 and a 1-year high of $27.20.

Prudential Public Announces Dividend

The business also recently disclosed a dividend, which will be paid on Thursday, October 16th. Shareholders of record on Friday, September 5th will be issued a dividend of $0.1542 per share. This represents a yield of 118.0%. The ex-dividend date of this dividend is Friday, September 5th. Prudential Public's payout ratio is presently 28.02%.

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.