Ethic Inc. Sells 29,195 Shares of Prudential plc (NYSE:PUK)

Ethic Inc. decreased its holdings in Prudential plc (NYSE:PUK) by 39.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 45,655 shares of the financial services provider’s stock after selling 29,195 shares during the quarter. Ethic Inc.’s holdings in Prudential were worth $728,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. ABC Arbitrage SA bought a new position in shares of Prudential in the fourth quarter worth about $16,207,000. Bank of Montreal Can raised its stake in 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 worth $24,775,000 after acquiring an additional 968,317 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in Prudential by 1,133.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,051,231 shares of the financial services provider’s stock valued at $16,757,000 after purchasing an additional 965,985 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Prudential by 321.8% in the fourth quarter. JPMorgan Chase & Co. now owns 1,236,697 shares of the financial services provider’s stock worth $19,713,000 after purchasing an additional 943,487 shares during the period. Finally, Optiver Holding B.V. increased its stake in shares of Prudential by 93.2% in the fourth quarter. Optiver Holding B.V. now owns 629,567 shares of the financial services provider’s stock worth $10,035,000 after purchasing an additional 303,783 shares in the last quarter. 1.90% of the stock is currently owned by institutional investors.

Prudential Stock Performance

Shares of NYSE PUK opened at $22.96 on Thursday. The company has a market cap of $29.99 billion, a P/E ratio of 9.90, a P/E/G ratio of 0.41 and a beta of 0.98. The firm’s fifty day moving average is $20.75 and its two-hundred day moving average is $18.05. Prudential plc has a 52-week low of $14.39 and a 52-week high of $23.35.

Prudential Increases Dividend

The company also recently disclosed a dividend, which was paid on Wednesday, May 14th. Stockholders of record on Friday, March 28th were 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 was Friday, March 28th. Prudential’s dividend payout ratio (DPR) is presently 28.02%.

Analysts Set New Price Targets

PUK has been the subject of several recent analyst reports. StockNews.com raised shares of Prudential from a “sell” rating to a “hold” rating in a report on Saturday, March 22nd. Citigroup reaffirmed a “buy” rating on shares of Prudential in a research note on Tuesday, April 1st. Finally, Morgan Stanley reissued an “overweight” rating on shares of Prudential in a report on Tuesday. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Prudential 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.