Envestnet Asset Management Inc. Sells 81,790 Shares of Prudential plc (NYSE:PUK)

Posted by Defense World Staff on Sep 4th, 2023

Envestnet Asset Management Inc. decreased its holdings in Prudential plc (NYSE:PUK – Free Report) by 12.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 559,392 shares of the financial services provider’s stock after selling 81,790 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Prudential were worth $15,294,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in PUK. FinTrust Capital Advisors LLC increased its stake in Prudential by 51.6% in the 4th quarter. FinTrust Capital Advisors LLC now owns 975 shares of the financial services provider’s stock valued at $27,000 after buying an additional 332 shares during the last quarter. Lindbrook Capital LLC increased its stake in Prudential by 58.2% in the 1st quarter. Lindbrook Capital LLC now owns 1,011 shares of the financial services provider’s stock valued at $28,000 after buying an additional 372 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Prudential by 53.5% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,088 shares of the financial services provider’s stock valued at $30,000 after buying an additional 379 shares during the last quarter. Belpointe Asset Management LLC purchased a new stake in Prudential in the 4th quarter valued at about $52,000. Finally, Tower Research Capital LLC TRC increased its stake in Prudential by 292.1% in the 3rd quarter. Tower Research Capital LLC TRC now owns 3,788 shares of the financial services provider’s stock valued at $75,000 after buying an additional 2,822 shares during the last quarter. Institutional investors own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on PUK shares. UBS Group decreased their price objective on shares of Prudential from GBX 1,590 ($20.04) to GBX 1,440 ($18.15) in a research note on Wednesday, July 12th. JPMorgan Chase & Co. decreased their price target on shares of Prudential from GBX 1,700 ($21.43) to GBX 1,630 ($20.55) in a research note on Thursday. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Prudential from GBX 1,550 ($19.54) to GBX 1,540 ($19.41) in a research note on Wednesday, August 23rd. Barclays decreased their price target on shares of Prudential from GBX 1,700 ($21.43) to GBX 1,575 ($19.85) in a research note on Tuesday, August 15th. Finally, StockNews.com initiated coverage on shares of Prudential in a research note on Thursday, August 17th. They set a “hold” rating for the company. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,485.83.

Get Our Latest Stock Analysis on Prudential

Prudential Stock Up 0.5 %

Prudential stock opened at $24.84 on Monday. Prudential plc has a 1-year low of $18.20 and a 1-year high of $34.37. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.23. The firm has a 50 day simple moving average of $26.59 and a 200 day simple moving average of $27.89.

Prudential Cuts Dividend

The firm also recently disclosed a Semi-Annual dividend, which will be paid on Thursday, October 19th. Investors of record on Friday, September 8th will be paid a $0.1252 dividend. The ex-dividend date is Thursday, September 7th. This represents a yield of 1.5%.

About Prudential

(Free Report)

Prudential plc, through its subsidiaries, provides life and health insurance, and retirement and asset management solutions to individuals in Asia, and Africa. It offers health and protection, as well as non- participating savings products, such as protection and investment-linked products. The company also provides insurance against common critical illnesses; property and casualty; and tropical disease protection, such as dengue, malaria, and measles.