JPMorgan Chase & Co. Boosts Holdings in Prudential plc (NYSE:PUK)

JPMorgan Chase & Co. grew its position in Prudential plc (NYSE:PUK - Free Report) by 321.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,236,697 shares of the financial services provider's stock after purchasing an additional 943,487 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.09% of Prudential worth $19,713,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. raised its stake in Prudential by 4.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 57,107 shares of the financial services provider's stock valued at $1,059,000 after buying an additional 2,455 shares in the last quarter. HighTower Advisors LLC increased its holdings in shares of Prudential by 98.2% in the 3rd quarter. HighTower Advisors LLC now owns 40,722 shares of the financial services provider's stock valued at $758,000 after acquiring an additional 20,180 shares during the last quarter. Kovitz Investment Group Partners LLC raised its position in shares of Prudential by 10.1% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 36,681 shares of the financial services provider's stock worth $672,000 after acquiring an additional 3,380 shares in the last quarter. Jane Street Group LLC purchased a new stake in Prudential during the third quarter worth approximately $199,000. Finally, Barclays PLC acquired a new position in Prudential in the third quarter valued at approximately $556,000. 1.90% of the stock is owned by hedge funds and other institutional investors.

Prudential Stock Up 1.0 %

NYSE:PUK traded up $0.20 during trading hours on Wednesday, reaching $20.41. 131,867 shares of the company's stock were exchanged, compared to its average volume of 1,035,745. Prudential plc has a 1-year low of $14.39 and a 1-year high of $22.01. The firm has a market capitalization of $26.79 billion, a price-to-earnings ratio of 8.80, a P/E/G ratio of 0.41 and a beta of 1.00. The company has a 50-day moving average of $19.33 and a 200 day moving average of $17.49.

Prudential Increases Dividend

The business also recently declared a dividend, which will be paid on Wednesday, May 14th. Investors of record on Friday, March 28th will be issued a dividend of $0.3258 per share. The ex-dividend date of this dividend is 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%.

Wall Street Analysts Forecast Growth

PUK has been the subject of several recent analyst reports. Citigroup restated a "buy" rating on shares of Prudential in a research report on Tuesday, April 1st. StockNews.com upgraded shares of Prudential from a "sell" rating to a "hold" rating in a research note on Saturday, March 22nd. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy".

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.