Prudential Public Limited Company (NYSE:PUK) Sees Significant Drop in Short Interest

Prudential Public Limited Company (NYSE:PUK) was the recipient of a large decline in short interest in the month of June. As of June 30th, there was short interest totaling 789,897 shares, a decline of 42.2% from the June 15th total of 1,366,323 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average daily volume of 1,090,722 shares, the short-interest ratio is currently 0.7 days.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on PUK shares. Morgan Stanley reaffirmed an “overweight” rating on shares of Prudential Public in a report on Friday, May 15th. Zacks Research upgraded Prudential Public from a “hold” rating to a “strong-buy” rating in a research report on Thursday, June 11th. Jefferies Financial Group downgraded Prudential Public from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 22nd. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Prudential Public in a research report on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy”.

Prudential Public Stock Performance

Shares of NYSE PUK traded down $0.28 during mid-day trading on Friday, reaching $28.30. 956,958 shares of the company traded hands, compared to its average volume of 997,846. Prudential Public has a fifty-two week low of $24.56 and a fifty-two week high of $34.03. The stock has a fifty day simple moving average of $28.30 and a 200-day simple moving average of $29.86. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.04 and a quick ratio of 0.04.

Institutional Trading of Prudential Public

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Manchester Capital Management LLC grew its holdings in Prudential Public by 1,103.0% during the fourth quarter. Manchester Capital Management LLC now owns 794 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 728 shares during the period. Mcguire Capital Advisors Inc. acquired a new stake in Prudential Public in the 4th quarter valued at about $29,000. Larson Financial Group LLC lifted its holdings in Prudential Public by 626.8% in the 3rd quarter. Larson Financial Group LLC now owns 1,657 shares of the financial services provider’s stock valued at $46,000 after acquiring an additional 1,429 shares during the last quarter. Allworth Financial LP boosted its position in shares of Prudential Public by 47.0% during the 4th quarter. Allworth Financial LP now owns 1,502 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 480 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its position in shares of Prudential Public by 2,583.2% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,549 shares of the financial services provider’s stock valued at $79,000 after purchasing an additional 2,454 shares in the last quarter. Institutional investors own 1.90% of the company’s stock.

Prudential Public Company Profile

Prudential Public (NYSE: PUK) is the New York listing for Prudential plc, a London?headquartered international life insurance and financial services group. The company provides a range of long?term savings, retirement and protection products designed for individual and institutional customers. Its core offerings include life insurance, pensions and annuities, group protection, and wealth and asset management services delivered through both proprietary and third?party distribution channels.

Prudential operates across multiple regions, with significant focus on fast?growing markets in Asia and Africa alongside its established businesses in Europe and other international markets.