CIBC Asset Management Inc Sells 1,703 Shares of Prudential plc (NYSE:PUK)

CIBC Asset Management Inc lessened its stake in Prudential plc (NYSE:PUK) by 2.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 73,973 shares of the financial services provider’s stock after selling 1,703 shares during the period. CIBC Asset Management Inc’s holdings in Prudential were worth $1,373,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of PUK. Janney Montgomery Scott LLC increased its position in shares of Prudential by 31.0% in the first quarter. Janney Montgomery Scott LLC now owns 19,409 shares of the financial services provider’s stock valued at $374,000 after acquiring an additional 4,594 shares during the period. Russell Investments Group Ltd. raised 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 last quarter. Virtu Financial LLC bought a new stake in shares of Prudential in the 1st quarter worth approximately $492,000. Bruce G. Allen Investments LLC bought a new stake in shares of Prudential in the 2nd quarter worth approximately $44,000. Finally, Wealth Enhancement Advisory Services LLC increased its stake in shares of Prudential by 16.1% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 59,749 shares of the financial services provider’s stock valued at $1,095,000 after buying an additional 8,307 shares during the period. 1.90% of the stock is currently owned by hedge funds and other institutional investors.

Prudential Stock Up 1.2 %

PUK stock opened at $16.03 on Thursday. The business has a 50 day moving average of $17.14 and a 200 day moving average of $17.87. Prudential plc has a twelve month low of $15.10 and a twelve month high of $23.37.

Prudential Cuts Dividend

The business also recently declared a Semi-Annual dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Friday, September 6th were paid a $0.1368 dividend. The ex-dividend date of this dividend was Friday, September 6th.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft cut shares of Prudential from a “buy” rating to a “hold” rating in a research 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, Barclays upgraded Prudential to a “strong-buy” rating in a research report on Tuesday, October 15th.

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.