Prudential plc (NYSE:PUK) Sees Significant Increase in Short Interest

Prudential plc (NYSE:PUK - Get Free Report) was the target of a large growth in short interest in the month of April. As of April 30th, there was short interest totalling 299,800 shares, a growth of 18.7% from the April 15th total of 252,600 shares. Based on an average daily volume of 926,100 shares, the days-to-cover ratio is presently 0.3 days.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Prudential from a "hold" rating to a "sell" rating in a research report on Monday.

Prudential Price Performance

PUK traded down $0.23 during trading hours on Monday, hitting $19.91. The company's stock had a trading volume of 672,664 shares, compared to its average volume of 900,730. The business's 50-day moving average price is $19.04 and its 200-day moving average price is $20.70. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.22. Prudential has a 12 month low of $17.12 and a 12 month high of $29.64.

Prudential Increases Dividend

The firm also recently announced a Semi-Annual dividend, which will be paid on Thursday, May 16th. Stockholders of record on Tuesday, April 2nd will be issued a $0.2842 dividend. The ex-dividend date of this dividend is Monday, April 1st. This is an increase from Prudential's previous Semi-Annual dividend of $0.24.

Institutional Trading of Prudential

Several hedge funds have recently made changes to their positions in PUK. Beacon Pointe Advisors LLC boosted its stake in shares of Prudential by 5.1% during the 4th quarter. Beacon Pointe Advisors LLC now owns 10,031 shares of the financial services provider's stock worth $225,000 after purchasing an additional 483 shares during the period. Advisor Partners II LLC boosted its position in shares of Prudential by 4.2% during the third quarter. Advisor Partners II LLC now owns 14,355 shares of the financial services provider's stock valued at $315,000 after buying an additional 576 shares during the period. Pinnacle Wealth Planning Services Inc. grew its stake in shares of Prudential by 3.3% during the fourth quarter. Pinnacle Wealth Planning Services Inc. now owns 19,984 shares of the financial services provider's stock valued at $449,000 after buying an additional 645 shares during the last quarter. Glassman Wealth Services raised its holdings in shares of Prudential by 135.7% in the fourth quarter. Glassman Wealth Services now owns 1,183 shares of the financial services provider's stock worth $27,000 after buying an additional 681 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Prudential by 13.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 5,873 shares of the financial services provider's stock worth $132,000 after acquiring an additional 701 shares during the last quarter. 1.90% of the stock is currently owned by hedge funds and other institutional investors.

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.