Oppenheimer Asset Management Inc. Boosts Stock Holdings in Prudential plc (NYSE:PUK)

Oppenheimer Asset Management Inc. raised its holdings in shares of Prudential plc (NYSE:PUK) by 39.0% during the second quarter, according to its most recent filing with the SEC. The firm owned 146,150 shares of the financial services provider’s stock after purchasing an additional 41,033 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Prudential were worth $2,677,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Russell Investments Group Ltd. increased its position in Prudential by 98.0% during the 1st quarter. Russell Investments Group Ltd. now owns 2,712 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 1,342 shares during the period. Sei Investments Co. increased its position in Prudential by 8.9% during the 1st quarter. Sei Investments Co. now owns 344,222 shares of the financial services provider’s stock valued at $6,633,000 after purchasing an additional 28,124 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in Prudential during the 1st quarter valued at about $75,000. BNP Paribas Financial Markets increased its position in Prudential by 398.5% during the 4th quarter. BNP Paribas Financial Markets now owns 34,123 shares of the financial services provider’s stock valued at $766,000 after purchasing an additional 27,278 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in Prudential by 15.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,011,551 shares of the financial services provider’s stock valued at $45,159,000 after purchasing an additional 274,674 shares during the period. Hedge funds and other institutional investors own 1.90% of the company’s stock.

Prudential Trading Up 0.8 %

NYSE:PUK opened at $16.65 on Wednesday. Prudential plc has a twelve month low of $15.77 and a twelve month high of $23.73. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.04 and a quick ratio of 0.03. The company’s 50 day moving average is $17.32 and its two-hundred day moving average is $18.44.

Prudential Cuts Dividend

The firm also recently disclosed a Semi-Annual dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Friday, September 6th will be paid a dividend of $0.1368 per share. The ex-dividend date is Friday, September 6th.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. BNP Paribas raised shares of Prudential from a “neutral” rating to an “outperform” rating in a research report on Wednesday, June 26th. StockNews.com raised shares of Prudential from a “sell” rating to a “hold” rating in a research report on Wednesday, August 28th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Prudential from a “buy” rating to a “hold” rating in a research report on Monday, August 5th.

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.