Prudential Public Limited Company (NYSE:PUK) Short Interest Up 29.9% in August

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) saw a significant increase in short interest in the month of August. As of August 15th, there was short interest totaling 1,780,000 shares, an increase of 29.9% from the July 31st total of 1,370,000 shares. Approximately 0.1% of the company's stock are sold short. Based on an average daily volume of 907,000 shares, the short-interest ratio is currently 2.0 days. Based on an average daily volume of 907,000 shares, the short-interest ratio is currently 2.0 days. Approximately 0.1% of the company's stock are sold short.

Hedge Funds Weigh In On Prudential Public

Several institutional investors have recently added to or reduced their stakes in the company. Causeway Capital Management LLC grew its holdings in Prudential Public by 10.1% during the 1st quarter. Causeway Capital Management LLC now owns 2,353,670 shares of the financial services provider's stock valued at $50,604,000 after buying an additional 216,828 shares in the last quarter. Northern Trust Corp grew its holdings in Prudential Public by 8.3% during the 1st quarter. Northern Trust Corp now owns 1,878,126 shares of the financial services provider's stock valued at $40,380,000 after buying an additional 144,354 shares in the last quarter. Bank of Montreal Can boosted its holdings in shares of Prudential Public by 6.9% in the 2nd quarter. Bank of Montreal Can now owns 1,308,520 shares of the financial services provider's stock worth $32,739,000 after purchasing an additional 84,269 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Prudential Public by 30.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 822,909 shares of the financial services provider's stock worth $20,589,000 after purchasing an additional 193,454 shares during the period. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Prudential Public by 99.9% in the 2nd quarter. BNP Paribas Financial Markets now owns 819,518 shares of the financial services provider's stock worth $20,504,000 after purchasing an additional 409,517 shares during the period. Hedge funds and other institutional investors own 1.90% of the company's stock.

Prudential Public Price Performance

Shares of NYSE:PUK traded down $0.19 during trading on Friday, hitting $27.85. 667,207 shares of the company's stock were exchanged, compared to its average volume of 731,095. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.04 and a quick ratio of 0.04. Prudential Public has a 52-week low of $14.39 and a 52-week high of $28.08. The business's 50-day simple moving average is $25.90 and its 200 day simple moving average is $23.23. The company has a market cap of $35.82 billion, a price-to-earnings ratio of 12.00, a PEG ratio of 0.80 and a beta of 1.04.

Prudential Public Announces Dividend

The company also recently declared a dividend, which will be paid on Thursday, October 16th. Shareholders of record on Friday, September 5th will be issued a dividend of $0.1542 per share. This represents a yield of 117.0%. The ex-dividend date is Friday, September 5th. Prudential Public's dividend payout ratio (DPR) is currently 12.07%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on PUK shares. Deutsche Bank Aktiengesellschaft raised Prudential Public from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. UBS Group reaffirmed a "buy" rating on shares of Prudential Public in a research note on Thursday, August 28th. Wall Street Zen downgraded Prudential Public from a "buy" rating to a "hold" rating in a report on Saturday, August 30th. Finally, Barclays reaffirmed an "overweight" rating on shares of Prudential Public in a report on Monday, September 8th. Five analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average 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.