Prudential plc (NYSE:PUK) Shares Sold by Nuveen Asset Management LLC

Nuveen Asset Management LLC reduced its stake in Prudential plc (NYSE:PUK - Free Report) by 19.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 100,711 shares of the financial services provider's stock after selling 24,402 shares during the period. Nuveen Asset Management LLC's holdings in Prudential were worth $1,605,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. ABC Arbitrage SA acquired a new stake in shares of Prudential during the fourth quarter worth $16,207,000. Bank of Montreal Can lifted its holdings in shares of 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 purchasing an additional 968,317 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in shares of 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 purchasing an additional 965,985 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of 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 purchasing an additional 943,487 shares during the period. Finally, Optiver Holding B.V. lifted its holdings in shares of Prudential by 93.2% during the fourth quarter. Optiver Holding B.V. now owns 629,567 shares of the financial services provider's stock worth $10,035,000 after purchasing an additional 303,783 shares during the period. 1.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Prudential Trading Up 1.2%

Shares of NYSE:PUK traded up $0.27 during midday trading on Friday, hitting $23.74. 582,195 shares of the stock were exchanged, compared to its average volume of 1,031,527. The stock has a market cap of $30.91 billion, a P/E ratio of 10.23, a PEG ratio of 0.41 and a beta of 1.02. Prudential plc has a twelve month low of $14.39 and a twelve month high of $23.77. The company has a 50 day moving average price of $21.58 and a 200-day moving average price of $18.81.

Prudential Increases Dividend

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

Prudential Company 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.