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

Envestnet Asset Management Inc. grew its holdings in Prudential plc (NYSE:PUK) by 8.5% in the 2nd quarter, Holdings Channel reports. The fund owned 918,639 shares of the financial services provider’s stock after purchasing an additional 72,093 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Prudential were worth $16,829,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Principal Securities Inc. bought a new position in shares of Prudential during the fourth quarter worth about $28,000. Bruce G. Allen Investments LLC bought a new position in shares of Prudential during the second quarter worth about $44,000. Russell Investments Group Ltd. grew its holdings in shares of Prudential by 98.0% during the first quarter. Russell Investments Group Ltd. now owns 2,712 shares of the financial services provider’s stock worth $52,000 after buying an additional 1,342 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Prudential by 202.2% during the second quarter. Blue Trust Inc. now owns 2,699 shares of the financial services provider’s stock worth $52,000 after buying an additional 1,806 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of Prudential during the first quarter worth about $75,000. 1.90% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Prudential Stock Performance

Shares of NYSE PUK opened at $17.18 on Tuesday. The stock has a 50 day moving average price of $17.16 and a 200 day moving average price of $18.36. 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 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.

Prudential Cuts Dividend

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

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.