Wealth Alliance Purchases 9,024 Shares of Prudential plc (NYSE:PUK)

Wealth Alliance boosted its position in Prudential plc (NYSE:PUK) by 67.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,318 shares of the financial services provider’s stock after acquiring an additional 9,024 shares during the period. Wealth Alliance’s holdings in Prudential were worth $409,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PUK. Envestnet Asset Management Inc. lifted its position in Prudential by 8.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 918,639 shares of the financial services provider’s stock valued at $16,829,000 after purchasing an additional 72,093 shares during the period. Oppenheimer Asset Management Inc. boosted its stake in Prudential by 39.0% in the second quarter. Oppenheimer Asset Management Inc. now owns 146,150 shares of the financial services provider’s stock valued at $2,677,000 after acquiring an additional 41,033 shares during the last quarter. American Century Companies Inc. grew its holdings in Prudential by 12.5% during the 2nd quarter. American Century Companies Inc. now owns 184,983 shares of the financial services provider’s stock worth $3,389,000 after acquiring an additional 20,516 shares during the period. Choreo LLC bought a new stake in shares of Prudential during the 2nd quarter valued at $228,000. Finally, Gallacher Capital Management LLC acquired a new position in shares of Prudential in the 2nd quarter valued at $221,000. 1.90% of the stock is currently owned by institutional investors and hedge funds.

Prudential Stock Performance

Shares of NYSE PUK opened at $17.41 on Friday. Prudential plc has a 52 week low of $15.77 and a 52 week high of $23.73. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.03 and a current ratio of 0.04. The stock has a 50 day moving average price of $17.23 and a 200 day moving average price of $18.42. The stock has a market capitalization of $23.94 billion, a PE ratio of 8.06, a price-to-earnings-growth ratio of 0.46 and a beta of 1.22.

Prudential Cuts Dividend

The firm also recently disclosed a Semi-Annual dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Friday, September 6th will be given a $0.1368 dividend. The ex-dividend date of this dividend is Friday, September 6th. Prudential’s payout ratio is 12.50%.

Analyst Upgrades and Downgrades

PUK has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft lowered Prudential from a “buy” rating to a “hold” rating in a research report on Monday, August 5th. StockNews.com raised shares of Prudential from a “sell” rating to a “hold” rating in a research report on Wednesday, August 28th. Finally, BNP Paribas raised shares of Prudential from a “neutral” rating to an “outperform” rating in a research note on Wednesday, June 26th.

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.