Short Interest in Prudential plc (NYSE:PUK) Decreases By 21.1%

Prudential plc (NYSE:PUK) was the recipient of a significant decrease in short interest in December. As of December 31st, there was short interest totalling 246,800 shares, a decrease of 21.1% from the December 15th total of 312,700 shares. Based on an average trading volume of 1,050,000 shares, the short-interest ratio is currently 0.2 days.

Analyst Ratings Changes

PUK has been the subject of several research analyst reports. StockNews.com downgraded shares of Prudential from a “hold” rating to a “sell” rating in a research report on Monday, November 25th. Barclays upgraded Prudential to a “strong-buy” rating in a research note on Tuesday, October 15th.

Prudential Stock Performance

Shares of NYSE:PUK traded up $0.36 on Wednesday, hitting $15.10. 771,777 shares of the company were exchanged, compared to its average volume of 1,056,116. The company’s 50 day moving average price is $16.07 and its two-hundred day moving average price is $16.98. Prudential has a one year low of $14.39 and a one year high of $22.07. The firm has a market capitalization of $20.06 billion, a price-to-earnings ratio of 7.48, a PEG ratio of 0.46 and a beta of 1.20.

Institutional Investors Weigh In On Prudential

Several institutional investors have recently modified their holdings of PUK. Choreo LLC bought a new position in Prudential during the second quarter worth about $228,000. American Century Companies Inc. grew its holdings in shares of Prudential by 12.5% in the 2nd quarter. American Century Companies Inc. now owns 184,983 shares of the financial services provider’s stock valued at $3,389,000 after buying an additional 20,516 shares during the period. Oppenheimer Asset Management Inc. increased its position in shares of Prudential by 39.0% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 146,150 shares of the financial services provider’s stock valued at $2,677,000 after buying an additional 41,033 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in Prudential by 8.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 918,639 shares of the financial services provider’s stock worth $16,829,000 after buying an additional 72,093 shares during the period. Finally, Wealth Alliance lifted its holdings in Prudential by 67.9% during the second quarter. Wealth Alliance now owns 22,318 shares of the financial services provider’s stock worth $409,000 after acquiring an additional 9,024 shares in the last quarter. Institutional investors and hedge funds own 1.90% of the company’s stock.

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.