Prudential plc (NYSE:PUK) Short Interest Update

Prudential plc (NYSE:PUK - Get Free Report) was the recipient of a significant drop in short interest in the month of May. As of May 15th, there was short interest totalling 1,170,000 shares, a drop of 35.4% from the April 30th total of 1,810,000 shares. Based on an average daily volume of 985,200 shares, the days-to-cover ratio is presently 1.2 days. Currently, 0.1% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PUK. Barclays reaffirmed an "overweight" rating on shares of Prudential in a research report on Thursday, May 22nd. Citigroup reaffirmed a "buy" rating on shares of Prudential in a research report on Tuesday, April 1st. Wall Street Zen raised Prudential from a "hold" rating to a "buy" rating in a research report on Friday. Finally, Morgan Stanley reissued an "overweight" rating on shares of Prudential in a report on Tuesday, May 13th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy".

Institutional Investors Weigh In On Prudential

Several large investors have recently made changes to their positions in PUK. Choreo LLC boosted its holdings in Prudential by 5.6% during the first quarter. Choreo LLC now owns 12,049 shares of the financial services provider's stock worth $259,000 after purchasing an additional 644 shares during the last quarter. Smartleaf Asset Management LLC raised its position in shares of Prudential by 38.1% in the first quarter. Smartleaf Asset Management LLC now owns 2,563 shares of the financial services provider's stock valued at $55,000 after purchasing an additional 707 shares during the period. Pacer Advisors Inc. raised its position in shares of Prudential by 7.9% in the first quarter. Pacer Advisors Inc. now owns 11,965 shares of the financial services provider's stock valued at $257,000 after purchasing an additional 877 shares during the period. National Bank of Canada FI increased its position in Prudential by 29.0% during the first quarter. National Bank of Canada FI now owns 3,925 shares of the financial services provider's stock worth $84,000 after acquiring an additional 883 shares during the period. Finally, Bruce G. Allen Investments LLC increased its position in Prudential by 70.4% during the first quarter. Bruce G. Allen Investments LLC now owns 2,759 shares of the financial services provider's stock worth $59,000 after acquiring an additional 1,140 shares during the period. Institutional investors own 1.90% of the company's stock.

Prudential Price Performance

Shares of Prudential stock traded up $0.07 during trading on Monday, hitting $22.91. 277,755 shares of the company were exchanged, compared to its average volume of 1,029,706. The firm has a market capitalization of $29.82 billion, a P/E ratio of 9.88, a price-to-earnings-growth ratio of 0.41 and a beta of 0.98. Prudential has a 1-year low of $14.39 and a 1-year high of $23.35. The firm's fifty day moving average price is $21.41 and its 200 day moving average price is $18.60.

Prudential Increases Dividend

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

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.