Shelton Capital Management Decreases Position in Prudential plc (NYSE:PUK)

Shelton Capital Management trimmed its holdings in shares of Prudential plc (NYSE:PUK) by 29.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,923 shares of the financial services provider’s stock after selling 8,835 shares during the quarter. Shelton Capital Management’s holdings in Prudential were worth $334,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC grew its stake in shares of Prudential by 417.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,856 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 1,497 shares during the last quarter. Whipplewood Advisors LLC purchased a new stake in Prudential during the 4th quarter worth approximately $30,000. Advisors Preferred LLC acquired a new position in Prudential during the 4th quarter valued at approximately $31,000. GAMMA Investing LLC raised its holdings in shares of Prudential by 95.8% in the fourth quarter. GAMMA Investing LLC now owns 2,303 shares of the financial services provider’s stock worth $37,000 after buying an additional 1,127 shares during the last quarter. Finally, National Bank of Canada FI lifted its stake in shares of Prudential by 52.6% during the fourth quarter. National Bank of Canada FI now owns 3,042 shares of the financial services provider’s stock worth $48,000 after buying an additional 1,049 shares during the period. 1.90% of the stock is owned by institutional investors and hedge funds.

Prudential Trading Down 2.6 %

PUK opened at $19.15 on Friday. The firm has a 50 day moving average of $19.13 and a two-hundred day moving average of $17.45. The firm has a market capitalization of $25.13 billion, a PE ratio of 8.25, a P/E/G ratio of 0.41 and a beta of 1.00. Prudential plc has a 12-month low of $14.39 and a 12-month high of $22.01.

Prudential Increases Dividend

The firm also recently announced a dividend, which will be paid on Wednesday, May 14th. Investors of record on Friday, March 28th will be issued a dividend of $0.3258 per share. The ex-dividend date is Friday, March 28th. This is a boost from Prudential’s previous dividend of $0.24. Prudential’s dividend payout ratio (DPR) is 28.02%.

Analysts Set New Price Targets

PUK has been the topic of several research reports. Citigroup reissued a “buy” rating on shares of Prudential in a research report on Tuesday, April 1st. StockNews.com upgraded Prudential from a “sell” rating to a “hold” rating in a research note on Saturday, March 22nd. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy”.

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.