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

Raymond James Financial Inc. bought a new position in shares of Prudential plc (NYSE:PUK - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 85,014 shares of the financial services provider's stock, valued at approximately $1,355,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Crossmark Global Holdings Inc. increased its holdings in shares of Prudential by 0.8% during the fourth quarter. Crossmark Global Holdings Inc. now owns 111,486 shares of the financial services provider's stock valued at $1,777,000 after acquiring an additional 935 shares in the last quarter. National Bank of Canada FI grew its position in 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 purchasing an additional 1,049 shares during the period. GAMMA Investing LLC increased its stake in Prudential by 95.8% during 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. Smartleaf Asset Management LLC lifted its stake in shares of Prudential by 417.0% in the fourth 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. Finally, Whipplewood Advisors LLC acquired a new position in shares of Prudential during the fourth quarter valued at about $30,000. 1.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on PUK shares. Citigroup reiterated a "buy" rating on shares of Prudential in a research note on Tuesday, April 1st. StockNews.com raised Prudential from a "sell" rating to a "hold" rating in a research report on Saturday, March 22nd. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Prudential presently has a consensus rating of "Moderate Buy".

Prudential Stock Performance

Shares of Prudential stock traded up $0.36 during mid-day trading on Wednesday, hitting $22.05. 731,989 shares of the stock were exchanged, compared to its average volume of 1,022,963. Prudential plc has a 12 month low of $14.39 and a 12 month high of $22.24. The company has a 50-day simple moving average of $20.33 and a 200 day simple moving average of $17.82. The company has a market capitalization of $28.80 billion, a P/E ratio of 9.50, a P/E/G ratio of 0.41 and a beta of 0.98.

Prudential Increases Dividend

The firm also recently disclosed a dividend, which will be paid on Wednesday, May 14th. Shareholders of record on Friday, March 28th will be given a $0.3258 dividend. 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 currently 28.02%.

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.