Prudential plc (NYSE:PUK) Short Interest Up 55.4% in September

Prudential plc (NYSE:PUK) was the recipient of a significant growth in short interest in September. As of September 15th, there was short interest totalling 582,300 shares, a growth of 55.4% from the August 31st total of 374,700 shares. Based on an average daily trading volume, of 983,500 shares, the short-interest ratio is currently 0.6 days.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Prudential

A number of institutional investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC increased its position in shares of Prudential by 45.9% during the second quarter. EverSource Wealth Advisors LLC now owns 2,222 shares of the financial services provider’s stock worth $40,000 after buying an additional 699 shares during the period. Bruce G. Allen Investments LLC acquired a new stake in Prudential during the 2nd quarter worth about $44,000. Russell Investments Group Ltd. raised its position in shares of Prudential by 98.0% in the 1st 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. Blue Trust Inc. lifted its stake in shares of Prudential by 202.2% in the 2nd quarter. Blue Trust Inc. now owns 2,699 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 1,806 shares during the period. Finally, Allspring Global Investments Holdings LLC bought a new stake in shares of Prudential during the 1st quarter valued at about $75,000. Institutional investors own 1.90% of the company’s stock.

Prudential Stock Performance

PUK stock opened at $18.33 on Friday. The company has a quick ratio of 0.03, a current ratio of 0.04 and a debt-to-equity ratio of 0.23. Prudential has a 52-week low of $15.77 and a 52-week high of $23.73. The company has a fifty day moving average price of $17.09 and a 200-day moving average price of $18.34.

Prudential Cuts Dividend

The business 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 dividend of $0.1368 per share. The ex-dividend date of this dividend is Friday, September 6th.

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.