Prudential plc (NYSE:PUK) Sees Large Growth in Short Interest

Prudential plc (NYSE:PUK - Get Free Report) saw a large increase in short interest in May. As of May 31st, there was short interest totalling 1,780,000 shares, an increase of 52.1% from the May 15th total of 1,170,000 shares. Based on an average trading volume of 950,000 shares, the days-to-cover ratio is presently 1.9 days. Currently, 0.1% of the company's stock are short sold.

Prudential Trading Down 1.5%

Shares of PUK opened at $23.95 on Monday. The firm has a fifty day simple moving average of $22.02 and a two-hundred day simple moving average of $19.13. The firm has a market cap of $31.18 billion, a PE ratio of 10.32, a P/E/G ratio of 0.41 and a beta of 1.02. Prudential has a 1-year low of $14.39 and a 1-year high of $24.52.

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 given a dividend of $0.3258 per share. The ex-dividend date of this dividend was Friday, March 28th. This is a boost from Prudential's previous dividend of $0.24. Prudential's dividend payout ratio is 28.02%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Smartleaf Asset Management LLC lifted its stake in shares of Prudential by 417.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,856 shares of the financial services provider's stock worth $29,000 after purchasing an additional 1,497 shares during the period. Whipplewood Advisors LLC bought a new stake in Prudential during the fourth quarter valued at approximately $30,000. Bruce G. Allen Investments LLC grew 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 valued at $59,000 after buying an additional 1,140 shares during the period. SVB Wealth LLC bought a new stake in Prudential during the first quarter valued at approximately $60,000. Finally, National Bank of Canada FI grew its position in Prudential by 52.6% during the fourth quarter. National Bank of Canada FI now owns 3,042 shares of the financial services provider's stock valued at $48,000 after buying an additional 1,049 shares during the period. Institutional investors own 1.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Prudential from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Morgan Stanley restated an "overweight" rating on shares of Prudential in a research note on Tuesday, May 13th. Wall Street Zen upgraded shares of Prudential from a "hold" rating to a "buy" rating in a research note on Saturday, June 7th. Barclays restated an "overweight" rating on shares of Prudential in a research note on Thursday, May 22nd. Finally, Citigroup restated a "buy" rating on shares of Prudential in a research note on Tuesday, April 1st. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "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.

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