Envestnet Asset Management Inc. Acquires 72,093 Shares of Prudential plc (NYSE:PUK)

Envestnet Asset Management Inc. increased its position in shares of Prudential plc (NYSE:PUK) by 8.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 918,639 shares of the financial services provider’s stock after purchasing an additional 72,093 shares during the period. Envestnet Asset Management Inc. owned about 0.07% of Prudential worth $16,829,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of PUK. Russell Investments Group Ltd. grew its position in Prudential by 98.0% in the first quarter. Russell Investments Group Ltd. now owns 2,712 shares of the financial services provider’s stock valued at $52,000 after acquiring an additional 1,342 shares during the period. Sei Investments Co. grew its position in Prudential by 8.9% in 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 period. Allspring Global Investments Holdings LLC acquired a new position in Prudential in the first quarter worth $75,000. BNP Paribas Financial Markets boosted its stake in Prudential by 398.5% in the fourth quarter. BNP Paribas Financial Markets now owns 34,123 shares of the financial services provider’s stock worth $766,000 after purchasing an additional 27,278 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in Prudential by 15.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,011,551 shares of the financial services provider’s stock worth $45,159,000 after purchasing an additional 274,674 shares in the last quarter. 1.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Prudential Trading Up 2.3 %

Shares of PUK opened at $17.18 on Tuesday. The stock’s fifty day simple moving average is $17.16 and its 200-day simple moving average is $18.36. The firm has a market capitalization of $23.62 billion, a PE ratio of 7.95, a price-to-earnings-growth ratio of 0.46 and a beta of 1.22. The company has a quick ratio of 0.03, a current ratio of 0.04 and a debt-to-equity ratio of 0.23. Prudential plc has a 12-month low of $15.77 and a 12-month high of $23.73.

Prudential Cuts Dividend

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

About Prudential

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.