Tower Research Capital LLC TRC Boosts Stock Position in Prudential plc (NYSE:PUK)

Tower Research Capital LLC TRC grew its holdings in shares of Prudential plc (NYSE:PUK - Free Report) by 45.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,910 shares of the financial services provider's stock after acquiring an additional 12,827 shares during the period. Tower Research Capital LLC TRC's holdings in Prudential were worth $652,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. ABC Arbitrage SA bought a new stake in Prudential during the fourth quarter valued at about $16,207,000. Bank of Montreal Can grew its stake 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 valued at $24,775,000 after acquiring an additional 968,317 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in Prudential by 1,133.2% in 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. JPMorgan Chase & Co. raised its stake in Prudential by 321.8% during the 4th quarter. JPMorgan Chase & Co. now owns 1,236,697 shares of the financial services provider's stock worth $19,713,000 after acquiring an additional 943,487 shares during the period. Finally, Madison Investment Advisors LLC purchased a new position in Prudential during the fourth quarter valued at approximately $1,917,000. 1.90% of the stock is currently owned by hedge funds and other institutional investors.

Prudential Price Performance

Shares of PUK stock traded up $0.63 during mid-day trading on Friday, hitting $21.84. The company had a trading volume of 1,083,963 shares, compared to its average volume of 1,026,830. The stock's 50 day moving average price is $20.20 and its 200-day moving average price is $17.76. Prudential plc has a 52-week low of $14.39 and a 52-week high of $22.01. The company has a market capitalization of $28.53 billion, a P/E ratio of 9.41, a P/E/G ratio of 0.41 and a beta of 1.00.

Prudential Increases Dividend

The company also recently disclosed a dividend, which will be paid on Wednesday, May 14th. Stockholders of record on Friday, March 28th will be given a dividend of $0.3258 per share. This is a positive change from Prudential's previous dividend of $0.24. The ex-dividend date is Friday, March 28th. Prudential's dividend payout ratio (DPR) is presently 28.02%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PUK. StockNews.com raised shares of Prudential from a "sell" rating to a "hold" rating in a research note on Saturday, March 22nd. Citigroup reiterated a "buy" rating on shares of Prudential in a research note on Tuesday, April 1st. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy".

Prudential 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.