Prudential plc (NYSE:PUK) Short Interest Update

Prudential plc (NYSE:PUK) was the target of a significant decline in short interest in the month of March. As of March 15th, there was short interest totalling 1,290,000 shares, a decline of 15.1% from the February 28th total of 1,520,000 shares. Based on an average trading volume of 984,200 shares, the days-to-cover ratio is presently 1.3 days. Approximately 0.1% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Prudential from a “sell” rating to a “hold” rating in a research report on Saturday, March 22nd.

Prudential Stock Up 0.6 %

Shares of NYSE:PUK traded up $0.13 during trading on Wednesday, reaching $21.70. 375,028 shares of the company traded hands, compared to its average volume of 1,017,329. The firm has a fifty day simple moving average of $18.59 and a 200 day simple moving average of $17.30. Prudential has a 1-year low of $14.39 and a 1-year high of $22.01. The firm has a market cap of $28.55 billion, a P/E ratio of 9.35, a price-to-earnings-growth ratio of 0.41 and a beta of 1.21.

Prudential Increases Dividend

The company also recently announced a dividend, which will be paid on Wednesday, May 14th. Shareholders of record on Friday, March 28th will be paid a $0.3258 dividend. The ex-dividend date of this dividend is Friday, March 28th. This is an increase from Prudential’s previous dividend of $0.24. Prudential’s payout ratio is 28.02%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Northern Trust Corp increased its holdings in Prudential by 2.0% in the fourth quarter. Northern Trust Corp now owns 1,733,772 shares of the financial services provider’s stock worth $27,636,000 after buying an additional 34,344 shares during the last quarter. Bank of Montreal Can raised its holdings 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 purchasing an additional 968,317 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Prudential by 321.8% in the 4th quarter. JPMorgan Chase & Co. now owns 1,236,697 shares of the financial services provider’s stock valued at $19,713,000 after purchasing an additional 943,487 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Prudential by 1,133.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,051,231 shares of the financial services provider’s stock worth $16,757,000 after purchasing an additional 965,985 shares in the last quarter. Finally, ABC Arbitrage SA acquired a new position in Prudential during the fourth quarter worth $16,207,000. 1.90% of the stock is owned by institutional investors and hedge funds.

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.