Trading Report: The Rock Point Advisors LLC Increases Stake in Prudential PLC (PUK)

The Rock Point Advisors LLC Increases Stake in Prudential PLC (PUK)

Rock Point Advisors LLC increased its stake in Prudential PLC (NYSE:PUK) by 56.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 195,615 shares of the company’s stock after buying an additional 70,730 shares during the period. Prudential PLC accounts for about 3.6% of Rock Point Advisors LLC’s investment portfolio, making the stock its 8th largest position. Rock Point Advisors LLC’s holdings in Prudential PLC were worth $6,653,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in PUK. Raymond James Trust N.A. increased its position in Prudential PLC by 6.4% in the second quarter. Raymond James Trust N.A. now owns 15,328 shares of the company’s stock valued at $521,000 after buying an additional 920 shares during the last quarter. NEXT Financial Group Inc increased its position in Prudential PLC by 100.2% in the second quarter. NEXT Financial Group Inc now owns 3,796 shares of the company’s stock valued at $129,000 after buying an additional 1,900 shares during the last quarter. Boothbay Fund Management LLC bought a new position in Prudential PLC during the first quarter valued at $218,000. CIBC World Markets Inc. bought a new position in Prudential PLC during the second quarter valued at $257,000. Finally, Founders Financial Securities LLC bought a new position in Prudential PLC during the second quarter valued at $704,000. 1.44% of the stock is owned by institutional investors.

Shares of Prudential PLC (NYSE:PUK) traded down 1.24% on Monday, reaching $33.54. The company had a trading volume of 657,400 shares. Prudential PLC has a 52-week low of $29.14 and a 52-week high of $48.54. The stock has a market capitalization of $43.06 billion, a PE ratio of 18.45 and a beta of 1.70. The company has a 50 day moving average price of $36.05 and a 200 day moving average price of $36.63.

The company also recently announced a dividend, which was paid on Thursday, October 6th. Shareholders of record on Friday, August 26th were given a $0.335 dividend. The ex-dividend date of this dividend was Wednesday, August 24th.

Several research firms have weighed in on PUK. Zacks Investment Research raised Prudential PLC from a “hold” rating to a “buy” rating and set a $42.00 price target for the company in a research report on Tuesday, September 13th. JPMorgan Chase & Co. downgraded Prudential PLC from a “neutral” rating to an “underweight” rating in a research report on Tuesday, July 5th. Bank of America Corp. set a $42.40 price objective on Prudential PLC and gave the company a “buy” rating in a research report on Wednesday, August 10th. Finally, Societe Generale downgraded Prudential PLC from a “hold” rating to a “sell” rating in a research report on Wednesday, October 12th. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $44.63.

Prudential PLC Company Profile

Prudential PLC (Prudential) is an international financial services group with operations in Asia, the United States and the United Kingdom. The Company provides insurance and financial services directly and through its subsidiaries and affiliates across the world. Its operating segments include Insurance operations and Asset management operations.

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