Scout Investments Inc. lowered its holdings in Prudential (NYSE:PUK) by 14.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 472,629 shares of the financial services provider’s stock after selling 81,316 shares during the quarter. Scout Investments Inc.’s holdings in Prudential were worth $24,166,000 as of its most recent filing with the SEC.
A number of other institutional investors have also bought and sold shares of PUK. Rathbone Brothers plc acquired a new position in Prudential in the fourth quarter worth $207,000. Signaturefd LLC acquired a new position in Prudential in the first quarter worth $220,000. Advisor Partners LLC acquired a new position in Prudential in the first quarter worth $226,000. Lake Street Advisors Group LLC acquired a new position in Prudential in the fourth quarter worth $243,000. Finally, Miles Capital Inc. acquired a new position in Prudential in the first quarter worth $258,000. 1.62% of the stock is currently owned by institutional investors.
A number of research firms have commented on PUK. Berenberg Bank lowered Prudential from a “hold” rating to a “sell” rating in a research note on Thursday, March 29th. Zacks Investment Research downgraded Prudential from a “buy” rating to a “hold” rating in a research report on Wednesday, March 14th. ValuEngine downgraded Prudential from a “buy” rating to a “hold” rating in a research report on Wednesday, May 2nd. Finally, Citigroup downgraded Prudential from a “buy” rating to a “neutral” rating in a research report on Wednesday, April 25th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $57.00.
PUK stock opened at $52.45 on Tuesday. Prudential has a twelve month low of $44.67 and a twelve month high of $55.36. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.03 and a quick ratio of 0.03.
The company also recently announced a semiannual dividend, which will be paid on Friday, May 25th. Stockholders of record on Tuesday, April 3rd will be given a dividend of $0.9068 per share. The ex-dividend date of this dividend is Monday, April 2nd. This represents a dividend yield of 3.4%. This is an increase from Prudential’s previous semiannual dividend of $0.38. Prudential’s payout ratio is presently 48.40%.
Prudential plc, together with its subsidiaries, provides a range of retail financial products and services, and asset management services in Asia, the United States, the United Kingdom, Europe, and Africa. The company offers health and protection, as well as other life insurance products, including participating business and mutual funds; and personal lines property and casualty insurance, group insurance, and institutional fund management services.
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