US Bancorp DE Lowers Stake in Prudential plc (NYSE:PUK)

US Bancorp DE reduced its stake in shares of Prudential plc (NYSE:PUK) by 38.8% in the third quarter, according to its most recent filing with the SEC. The fund owned 9,220 shares of the financial services provider’s stock after selling 5,851 shares during the period. US Bancorp DE’s holdings in Prudential were worth $171,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC bought a new stake in Prudential during the first quarter worth about $75,000. Janney Montgomery Scott LLC boosted its stake in Prudential by 31.0% in the first quarter. Janney Montgomery Scott LLC now owns 19,409 shares of the financial services provider’s stock worth $374,000 after buying an additional 4,594 shares in the last quarter. Sei Investments Co. grew its position in Prudential by 8.9% during the first quarter. Sei Investments Co. now owns 344,222 shares of the financial services provider’s stock valued at $6,633,000 after acquiring an additional 28,124 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of Prudential by 98.0% during the first quarter. Russell Investments Group Ltd. now owns 2,712 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 1,342 shares in the last quarter. Finally, Catalytic Wealth RIA LLC lifted its holdings in shares of Prudential by 36.0% in the 1st quarter. Catalytic Wealth RIA LLC now owns 24,447 shares of the financial services provider’s stock worth $471,000 after acquiring an additional 6,471 shares during the last quarter. 1.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Barclays raised shares of Prudential to a “strong-buy” rating in a report on Tuesday, October 15th. StockNews.com raised Prudential from a “sell” rating to a “hold” rating in a research note on Wednesday, August 28th. Finally, Deutsche Bank Aktiengesellschaft lowered Prudential from a “buy” rating to a “hold” rating in a research note on Monday, August 5th.

Prudential Stock Performance

Shares of Prudential stock opened at $15.85 on Friday. Prudential plc has a 52-week low of $15.10 and a 52-week high of $23.73. The company’s 50 day moving average price is $17.18 and its 200-day moving average price is $17.96. The stock has a market capitalization of $21.41 billion, a price-to-earnings ratio of 7.46, a P/E/G ratio of 0.42 and a beta of 1.23.

Prudential Cuts Dividend

The company also recently declared a Semi-Annual dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Friday, September 6th were issued a $0.1368 dividend. The ex-dividend date was Friday, September 6th. Prudential’s dividend payout ratio (DPR) is presently 12.98%.

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.