Prudential (NYSE:PUK) Sees Large Volume Increase – Here’s Why

Shares of Prudential plc (NYSE:PUK) saw unusually-strong trading volume on Monday . Approximately 2,351,409 shares changed hands during mid-day trading, an increase of 143% from the previous session’s volume of 965,724 shares.The stock last traded at $16.97 and had previously closed at $16.65.

Analyst Ratings Changes

PUK has been the topic of several research reports. Barclays upgraded Prudential to a “strong-buy” rating in a research report on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft cut Prudential from a “buy” rating to a “hold” rating in a report on Monday, August 5th. Finally, StockNews.com raised Prudential from a “sell” rating to a “hold” rating in a report on Wednesday, August 28th.

Prudential Stock Down 1.1 %

The company’s fifty day moving average is $17.37 and its two-hundred day moving average is $18.07.

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.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PUK. Mediolanum International Funds Ltd acquired a new position in Prudential in the third quarter valued at about $19,505,000. Natixis Advisors LLC increased its stake in shares of Prudential by 35.9% in the 2nd quarter. Natixis Advisors LLC now owns 593,789 shares of the financial services provider’s stock valued at $10,878,000 after acquiring an additional 156,708 shares during the last quarter. Marshall Wace LLP raised its position in shares of Prudential by 13.5% in the 2nd quarter. Marshall Wace LLP now owns 1,076,579 shares of the financial services provider’s stock valued at $19,723,000 after acquiring an additional 128,124 shares during the period. Bank of Montreal Can boosted its stake in Prudential by 15.0% during the 2nd quarter. Bank of Montreal Can now owns 795,969 shares of the financial services provider’s stock worth $15,418,000 after acquiring an additional 103,625 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in Prudential by 8.5% during the second quarter. Envestnet Asset Management Inc. now owns 918,639 shares of the financial services provider’s stock valued at $16,829,000 after purchasing an additional 72,093 shares during the period. 1.90% of the stock is currently owned by institutional investors.

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.