Solel Partners LP Has $4.88 Million Stock Position in Prudential plc (NYSE:PUK)

Solel Partners LP reduced its position in Prudential plc (NYSE:PUK) by 21.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 266,592 shares of the financial services provider’s stock after selling 73,232 shares during the period. Prudential comprises about 0.8% of Solel Partners LP’s holdings, making the stock its 19th largest position. Solel Partners LP’s holdings in Prudential were worth $4,884,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in 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 worth $52,000 after acquiring an additional 1,342 shares in the last quarter. Sei Investments Co. boosted its holdings in Prudential by 8.9% in the first quarter. Sei Investments Co. now owns 344,222 shares of the financial services provider’s stock worth $6,633,000 after purchasing an additional 28,124 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in Prudential during the first quarter worth $75,000. BNP Paribas Financial Markets raised its holdings in Prudential by 398.5% during the fourth quarter. BNP Paribas Financial Markets now owns 34,123 shares of the financial services provider’s stock valued at $766,000 after buying an additional 27,278 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of 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 buying an additional 274,674 shares during the last quarter. 1.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Prudential Stock Up 2.3 %

PUK stock opened at $17.18 on Tuesday. The stock has a market capitalization of $23.62 billion, a price-to-earnings ratio of 7.95, a price-to-earnings-growth ratio of 0.46 and a beta of 1.22. The company has a 50-day moving average of $17.16 and a two-hundred day moving average 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 current ratio of 0.04 and a quick ratio of 0.03.

Prudential Cuts Dividend

The firm also recently announced a Semi-Annual dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Friday, September 6th will be issued a $0.1368 dividend. The ex-dividend date of this dividend is Friday, September 6th. Prudential’s dividend payout ratio (DPR) is currently 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.