Prudential plc (NYSE:PUK) Short Interest Update

Prudential plc (NYSE:PUK) saw a significant decrease in short interest during the month of September. As of September 30th, there was short interest totalling 288,100 shares, a decrease of 50.5% from the September 15th total of 582,300 shares. Based on an average trading volume of 1,190,000 shares, the days-to-cover ratio is presently 0.2 days.

Hedge Funds Weigh In On Prudential

Institutional investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC grew its holdings in Prudential by 45.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,222 shares of the financial services provider’s stock valued at $40,000 after buying an additional 699 shares in the last quarter. Bruce G. Allen Investments LLC bought a new stake in shares of Prudential in the 2nd quarter valued at approximately $44,000. Blue Trust Inc. lifted its stake in shares of Prudential by 202.2% in the 2nd quarter. Blue Trust Inc. now owns 2,699 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 1,806 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Prudential by 98.0% in the 1st quarter. Russell Investments Group Ltd. now owns 2,712 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 1,342 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new stake in shares of Prudential in the 1st quarter valued at approximately $75,000. Hedge funds and other institutional investors own 1.90% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on PUK. Deutsche Bank Aktiengesellschaft cut Prudential from a “buy” rating to a “hold” rating in a research report on Monday, August 5th. StockNews.com raised Prudential from a “sell” rating to a “hold” rating in a research note on Wednesday, August 28th. Finally, BNP Paribas raised Prudential from a “neutral” rating to an “outperform” rating in a research note on Wednesday, June 26th.

Prudential Stock Performance

Shares of NYSE:PUK traded down $0.22 during trading on Friday, hitting $17.73. 877,818 shares of the company’s stock were exchanged, compared to its average volume of 949,541. Prudential has a 52-week low of $15.77 and a 52-week high of $23.73. The business’s 50-day simple moving average is $17.20 and its 200 day simple moving average is $18.21.

Prudential Cuts Dividend

The company also recently declared a Semi-Annual dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Friday, September 6th will be issued a dividend of $0.1368 per share. The ex-dividend date of this dividend is Friday, September 6th.

About Prudential

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.