Renaissance Technologies LLC Sells 168,100 Shares of Prudential plc (NYSE:PUK)

Renaissance Technologies LLC lowered its stake in Prudential plc (NYSE:PUK - Free Report) by 47.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 187,900 shares of the financial services provider's stock after selling 168,100 shares during the period. Renaissance Technologies LLC's holdings in Prudential were worth $2,995,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of PUK. Bank of Montreal Can boosted its position in shares of Prudential by 165.3% during the 4th quarter. Bank of Montreal Can now owns 1,554,255 shares of the financial services provider's stock worth $24,775,000 after acquiring an additional 968,317 shares in the last quarter. Quadrant Capital Group LLC boosted its position in shares of Prudential by 47.8% during the 4th quarter. Quadrant Capital Group LLC now owns 12,595 shares of the financial services provider's stock worth $201,000 after acquiring an additional 4,076 shares in the last quarter. National Bank of Canada FI boosted 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 acquiring an additional 1,049 shares in the last quarter. O Shaughnessy Asset Management LLC acquired a new stake in shares of Prudential during the 4th quarter worth approximately $305,000. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of Prudential by 1,133.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,051,231 shares of the financial services provider's stock worth $16,757,000 after acquiring an additional 965,985 shares in the last quarter. Institutional investors and hedge funds own 1.90% of the company's stock.

Prudential Trading Down 0.7 %

PUK stock traded down $0.15 during trading on Tuesday, reaching $21.51. 72,166 shares of the stock were exchanged, compared to its average volume of 1,028,633. The firm's 50 day moving average is $19.92 and its 200 day moving average is $17.65. Prudential plc has a twelve month low of $14.39 and a twelve month high of $22.01. The firm has a market cap of $28.09 billion, a P/E ratio of 9.27, a price-to-earnings-growth ratio of 0.41 and a beta of 1.00.

Prudential Increases Dividend

The business also recently disclosed a dividend, which will be paid on Wednesday, May 14th. Stockholders of record on Friday, March 28th will be paid a $0.3258 dividend. The ex-dividend date is Friday, March 28th. This is an increase from Prudential's previous dividend of $0.24. Prudential's dividend payout ratio is 28.02%.

Analysts Set New Price Targets

Several brokerages recently commented on PUK. Citigroup reissued a "buy" rating on shares of Prudential in a research note on Tuesday, April 1st. StockNews.com upgraded shares of Prudential from a "sell" rating to a "hold" rating in a report on Saturday, March 22nd. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy".

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.