Prudential plc (NYSE:PUK) Sees Significant Increase in Short Interest

Prudential plc (NYSE:PUK) saw a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 1,890,000 shares, a growth of 46.5% from the March 15th total of 1,290,000 shares. Based on an average trading volume of 1,090,000 shares, the days-to-cover ratio is currently 1.7 days. Currently, 0.1% of the company’s shares are sold short.

Analyst Ratings Changes

Several research firms recently commented on PUK. Citigroup restated a “buy” rating on shares of Prudential in a report on Tuesday, April 1st. StockNews.com raised Prudential from a “sell” rating to a “hold” rating in a research report on Saturday, March 22nd. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy”.

Prudential Stock Up 2.6 %

PUK stock traded up $0.53 during trading on Friday, hitting $20.75. 1,426,903 shares of the company’s stock traded hands, compared to its average volume of 1,036,907. The stock has a fifty day moving average price of $19.48 and a two-hundred day moving average price of $17.53. Prudential has a 52 week low of $14.39 and a 52 week high of $22.01. The stock has a market capitalization of $27.23 billion, a price-to-earnings ratio of 8.94, a price-to-earnings-growth ratio of 0.41 and a beta of 1.00.

Prudential Increases Dividend

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

Hedge Funds Weigh In On Prudential

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PUK. Smartleaf Asset Management LLC raised its position in shares of Prudential by 417.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,856 shares of the financial services provider’s stock worth $29,000 after buying an additional 1,497 shares in the last quarter. Whipplewood Advisors LLC acquired a new position in Prudential in the 4th quarter valued at approximately $30,000. Advisors Preferred LLC purchased a new stake in Prudential in the 4th quarter worth approximately $31,000. GAMMA Investing LLC boosted its stake in shares of Prudential by 95.8% during the 4th quarter. GAMMA Investing LLC now owns 2,303 shares of the financial services provider’s stock valued at $37,000 after buying an additional 1,127 shares during the period. Finally, National Bank of Canada FI grew its holdings in shares of Prudential by 52.6% during the 4th quarter. National Bank of Canada FI now owns 3,042 shares of the financial services provider’s stock valued at $48,000 after acquiring an additional 1,049 shares in the last quarter. 1.90% of the stock is owned by institutional investors.

Prudential Company 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.