Raymond James Financial Inc. Makes New $1.36 Million Investment in Prudential plc (NYSE:PUK)

Raymond James Financial Inc. bought a new position in Prudential plc (NYSE:PUK - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 85,014 shares of the financial services provider's stock, valued at approximately $1,355,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC grew its holdings in Prudential by 417.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,856 shares of the financial services provider's stock valued at $29,000 after buying an additional 1,497 shares in the last quarter. Whipplewood Advisors LLC acquired a new stake in Prudential in the 4th quarter worth about $30,000. Advisors Preferred LLC acquired a new stake in shares of Prudential in the fourth quarter valued at approximately $31,000. GAMMA Investing LLC grew its holdings in shares of Prudential by 95.8% during the 4th quarter. GAMMA Investing LLC now owns 2,303 shares of the financial services provider's stock worth $37,000 after purchasing an additional 1,127 shares during the period. Finally, National Bank of Canada FI raised its holdings in shares of Prudential by 52.6% in the 4th 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. Hedge funds and other institutional investors own 1.90% of the company's stock.

Prudential Stock Up 1.5 %

Shares of PUK traded up $0.33 on Friday, hitting $22.21. The company's stock had a trading volume of 332,733 shares, compared to its average volume of 1,021,740. The firm's fifty day moving average price is $20.47 and its 200-day moving average price is $17.89. The firm has a market capitalization of $29.02 billion, a price-to-earnings ratio of 9.57, a P/E/G ratio of 0.41 and a beta of 0.98. Prudential plc has a fifty-two week low of $14.39 and a fifty-two week high of $22.25.

Prudential Increases Dividend

The company also recently declared a dividend, which will be paid on Wednesday, May 14th. Investors of record on Friday, March 28th will be issued a dividend of $0.3258 per share. The ex-dividend date of this dividend is Friday, March 28th. This is a boost from Prudential's previous dividend of $0.24. Prudential's payout ratio is 28.02%.

Analysts Set New Price Targets

PUK has been the topic of a number of recent research reports. StockNews.com raised shares of Prudential from a "sell" rating to a "hold" rating in a report on Saturday, March 22nd. Citigroup reissued a "buy" rating on shares of Prudential in a research report on Tuesday, April 1st. 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 company. According to MarketBeat, the stock 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.