Quantbot Technologies LP Acquires New Shares in Prudential plc (NYSE:PUK)

Quantbot Technologies LP bought a new position in Prudential plc (NYSE:PUK) during the 4th quarter, Holdings Channel.com reports. The institutional investor bought 23,954 shares of the financial services provider’s stock, valued at approximately $382,000.

A number of other hedge funds also recently added to or reduced their stakes in PUK. ABC Arbitrage SA bought a new position in shares of Prudential during the fourth quarter worth about $16,207,000. JPMorgan Chase & Co. boosted its stake in Prudential by 353.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 293,210 shares of the financial services provider’s stock valued at $5,436,000 after purchasing an additional 228,499 shares during the period. Madison Investment Advisors LLC bought a new position in Prudential in the 4th quarter worth about $1,917,000. Y Intercept Hong Kong Ltd bought a new position in Prudential in the 3rd quarter worth about $1,826,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Prudential in the fourth quarter valued at approximately $1,355,000. 1.90% of the stock is currently owned by institutional investors.

Prudential Stock Down 2.1 %

Shares of NYSE PUK opened at $21.46 on Friday. The stock has a market cap of $28.24 billion, a P/E ratio of 9.25, a P/E/G ratio of 0.41 and a beta of 1.21. The firm’s 50-day simple moving average is $18.37 and its 200 day simple moving average is $17.22. Prudential plc has a fifty-two week low of $14.39 and a fifty-two week high of $22.01.

Prudential Increases Dividend

The business also recently declared a dividend, which will be paid on Wednesday, May 14th. Shareholders of record on Friday, March 28th will be given a dividend of $0.3258 per share. This is an increase from Prudential’s previous dividend of $0.24. The ex-dividend date is Friday, March 28th. Prudential’s payout ratio is 28.02%.

Analyst Ratings Changes

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

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.