Charles Schwab Investment Management Inc. Grows Stake in Prudential plc (NYSE:PUK)

Charles Schwab Investment Management Inc. increased its position in Prudential plc (NYSE:PUK) by 62.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 92,918 shares of the financial services provider’s stock after acquiring an additional 35,811 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Prudential were worth $1,481,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. ABC Arbitrage SA bought a new stake in shares of Prudential during the 4th quarter valued at about $16,207,000. JPMorgan Chase & Co. boosted its holdings in shares of Prudential by 353.1% in the third quarter. JPMorgan Chase & Co. now owns 293,210 shares of the financial services provider’s stock worth $5,436,000 after buying an additional 228,499 shares during the last quarter. Quantinno Capital Management LP increased its holdings in Prudential by 21.2% during the third quarter. Quantinno Capital Management LP now owns 206,157 shares of the financial services provider’s stock valued at $3,822,000 after buying an additional 36,087 shares during the last quarter. Crossmark Global Holdings Inc. increased its holdings in Prudential by 0.8% during the fourth quarter. Crossmark Global Holdings Inc. now owns 111,486 shares of the financial services provider’s stock valued at $1,777,000 after buying an additional 935 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in Prudential in the third quarter worth approximately $1,826,000. Hedge funds and other institutional investors own 1.90% of the company’s stock.

Analyst Ratings Changes

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

Prudential Stock Down 2.1 %

NYSE PUK opened at $21.46 on Friday. Prudential plc has a 52 week low of $14.39 and a 52 week high of $22.01. The company has a market capitalization of $28.24 billion, a P/E ratio of 9.25, a price-to-earnings-growth ratio of 0.41 and a beta of 1.21. The stock’s 50-day moving average price is $18.37 and its 200-day moving average price is $17.22.

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 dividend of $0.3258 per share. This is a boost from Prudential’s previous dividend of $0.24. The ex-dividend date is Friday, March 28th. Prudential’s dividend payout ratio (DPR) is presently 28.02%.

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.