Prudential Public Limited Company (NYSE:PUK) Sees Large Growth in Short Interest

Key Points

• Prudential Public Limited Company saw a 29.9% increase in short interest in August, with a total of 1,780,000 shares sold short as of August 15th.
• The company announced a $0.1542 dividend to be paid on October 16th, reflecting a yield of 117.0% and a low payout ratio of 12.50%.
• Research analysts have a consensus "Buy" rating for Prudential Public, with several firms upgrading their ratings recently, including Deutsche Bank and Barclays.

Prudential Public Limited Company (NYSE:PUK - Get Free Report) was the target of a significant growth in short interest during the month of August. As of August 15th, there was short interest totaling 1,780,000 shares, agrowthof29.9% from the July 31st total of 1,370,000 shares. Based on an average daily trading volume, of 907,000 shares, the short-interest ratio is currently 2.0 days. Approximately0.1% of the company's shares are sold short. Approximately0.1% of the company's shares are sold short. Based on an average daily trading volume, of 907,000 shares, the short-interest ratio is currently 2.0 days.

Institutional Trading of Prudential Public

Several hedge funds have recently added to or reduced their stakes in the stock. Ballentine Partners LLC raised its position in Prudential Public by 2.4% in the second quarter. Ballentine Partners LLC now owns 18,598 shares of the financial services provider's stock worth $465,000 after acquiring an additional 430 shares during the period. ICONIQ Capital LLC raised its position in Prudential Public by 3.9% in the second quarter. ICONIQ Capital LLC now owns 14,098 shares of the financial services provider's stock worth $353,000 after acquiring an additional 531 shares during the period. Choreo LLC raised its position in Prudential Public by 5.1% in the second quarter. Choreo LLC now owns 12,669 shares of the financial services provider's stock worth $317,000 after acquiring an additional 620 shares during the period. Rhumbline Advisers raised its position in Prudential Public by 5.9% in the second quarter. Rhumbline Advisers now owns 12,367 shares of the financial services provider's stock worth $309,000 after acquiring an additional 694 shares during the period. Finally, Gallacher Capital Management LLC raised its position in Prudential Public by 4.5% in the second quarter. Gallacher Capital Management LLC now owns 16,269 shares of the financial services provider's stock worth $407,000 after acquiring an additional 706 shares during the period. Institutional investors own 1.90% of the company's stock.

Prudential Public Stock Down 0.3%

Prudential Public stock traded down $0.08 during midday trading on Tuesday, hitting $26.70. 562,079 shares of the stock were exchanged, compared to its average volume of 966,039. Prudential Public has a 52-week low of $14.39 and a 52-week high of $27.20. The stock has a market capitalization of $34.33 billion, a price-to-earnings ratio of 11.51, a price-to-earnings-growth ratio of 0.74 and a beta of 1.04. The business's 50-day moving average price is $25.68 and its 200-day moving average price is $23.00. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.21.

Prudential Public Dividend Announcement

The business also recently disclosed a dividend, which will be paid on Thursday, October 16th. Shareholders of record on Friday, September 5th will be given a $0.1542 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a yield of 117.0%. Prudential Public's payout ratio is currently 12.50%.

Analysts Set New Price Targets

PUK has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft raised shares of Prudential Public from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Barclays reiterated an "overweight" rating on shares of Prudential Public in a report on Monday. Morgan Stanley reiterated an "overweight" rating on shares of Prudential Public in a report on Tuesday, May 13th. UBS Group reiterated a "buy" rating on shares of Prudential Public in a report on Thursday, August 28th. Finally, Wall Street Zen cut shares of Prudential Public from a "buy" rating to a "hold" rating in a report on Saturday, August 30th. Five research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Prudential Public presently has a consensus rating of "Buy".

Prudential Public 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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