Prudential plc (NYSE:PUK) Short Interest Down 15.1% in March

Prudential plc (NYSE:PUK) was the recipient of a large decline in short interest in the month of March. As of March 15th, there was short interest totalling 1,290,000 shares, a decline of 15.1% from the February 28th total of 1,520,000 shares. Based on an average trading volume of 984,200 shares, the short-interest ratio is presently 1.3 days. Currently, 0.1% of the company’s shares are sold short.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PUK. Crossmark Global Holdings Inc. raised its position in shares of Prudential by 0.8% during the fourth quarter. Crossmark Global Holdings Inc. now owns 111,486 shares of the financial services provider’s stock worth $1,777,000 after purchasing an additional 935 shares during the period. National Bank of Canada FI increased its stake in Prudential by 52.6% during the 4th quarter. National Bank of Canada FI now owns 3,042 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 1,049 shares in the last quarter. GAMMA Investing LLC increased its stake in Prudential by 95.8% during the 4th quarter. GAMMA Investing LLC now owns 2,303 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 1,127 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in Prudential by 417.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,856 shares of the financial services provider’s stock worth $29,000 after buying an additional 1,497 shares during the period. Finally, Whipplewood Advisors LLC bought a new position in Prudential in the fourth quarter valued at approximately $30,000. 1.90% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, StockNews.com upgraded Prudential from a “sell” rating to a “hold” rating in a research report on Saturday, March 22nd.

Prudential Stock Performance

Shares of NYSE PUK opened at $21.53 on Tuesday. Prudential has a 52-week low of $14.39 and a 52-week high of $22.01. The stock has a market cap of $28.32 billion, a P/E ratio of 9.28, a P/E/G ratio of 0.41 and a beta of 1.21. The firm has a 50 day moving average price of $18.49 and a 200 day moving average price of $17.27.

Prudential Increases Dividend

The company also recently disclosed a dividend, which will be paid on Wednesday, May 14th. Investors of record on Friday, March 28th will be given a $0.3258 dividend. The ex-dividend date of this dividend is Friday, March 28th. This is a boost from Prudential’s previous dividend of $0.24. Prudential’s dividend payout ratio is currently 28.02%.

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.