Prudential plc (NYSE:PUK) Short Interest Down 43.9% in April

Prudential plc (NYSE:PUK - Get Free Report) was the target of a large drop in short interest in April. As of April 15th, there was short interest totalling 1,060,000 shares, a drop of 43.9% from the March 31st total of 1,890,000 shares. Based on an average trading volume of 1,060,000 shares, the days-to-cover ratio is currently 1.0 days. Approximately 0.1% of the company's stock are short sold.

Prudential Price Performance

PUK traded up $0.61 on Friday, reaching $21.82. 672,503 shares of the company's stock were exchanged, compared to its average volume of 1,060,123. Prudential has a twelve month low of $14.39 and a twelve month high of $22.01. The stock has a market cap of $28.50 billion, a PE ratio of 9.40, a P/E/G ratio of 0.41 and a beta of 1.00. The stock's fifty day moving average price is $20.12 and its 200-day moving average price is $17.73.

Prudential Increases Dividend

The business also recently disclosed a dividend, which will be paid on Wednesday, May 14th. Investors of record on Friday, March 28th will be given a dividend of $0.3258 per share. The ex-dividend date is Friday, March 28th. This is a boost from Prudential's previous dividend of $0.24. Prudential's dividend payout ratio (DPR) is presently 28.02%.

Institutional Trading of Prudential

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Smartleaf Asset Management LLC increased its stake in shares of Prudential by 417.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,856 shares of the financial services provider's stock worth $29,000 after buying an additional 1,497 shares during the period. Whipplewood Advisors LLC acquired a new position in Prudential during the 4th quarter worth approximately $30,000. Advisors Preferred LLC acquired a new stake in shares of Prudential in the 4th quarter valued at $31,000. GAMMA Investing LLC raised its holdings in shares of Prudential by 95.8% in the 4th quarter. GAMMA Investing LLC now owns 2,303 shares of the financial services provider's stock valued at $37,000 after purchasing an additional 1,127 shares in the last quarter. Finally, National Bank of Canada FI lifted its position in shares of Prudential by 52.6% during the 4th quarter. National Bank of Canada FI now owns 3,042 shares of the financial services provider's stock worth $48,000 after purchasing an additional 1,049 shares during the last quarter. 1.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PUK. StockNews.com raised Prudential from a "sell" rating to a "hold" rating in a research report on Saturday, March 22nd. Citigroup restated a "buy" rating on shares of Prudential in a research note on Tuesday, April 1st. Two equities research 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 stock. According to MarketBeat, the company has a consensus 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.