Prudential (NYSE:PUK) Sees Unusually-High Trading Volume

Prudential plc (NYSE:PUK) saw an uptick in trading volume on Monday . 2,763,449 shares changed hands during mid-day trading, an increase of 220% from the previous session’s volume of 863,996 shares.The stock last traded at $16.44 and had previously closed at $16.48.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on PUK shares. Deutsche Bank Aktiengesellschaft lowered shares of Prudential from a “buy” rating to a “hold” rating in a research note on Monday, August 5th. StockNews.com upgraded Prudential from a “sell” rating to a “hold” rating in a report on Wednesday, August 28th. Finally, BNP Paribas upgraded Prudential from a “neutral” rating to an “outperform” rating in a report on Wednesday, June 26th.

Prudential Price Performance

The company has a quick ratio of 0.03, a current ratio of 0.04 and a debt-to-equity ratio of 0.23. The firm’s 50 day moving average price is $17.39 and its two-hundred day moving average price is $18.49.

Prudential Cuts Dividend

The business also recently announced a Semi-Annual dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Friday, September 6th will be given a $0.1368 dividend. The ex-dividend date of this dividend is Friday, September 6th.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Principal Securities Inc. purchased a new position in shares of Prudential in the fourth quarter valued at approximately $28,000. Russell Investments Group Ltd. raised its stake in shares of Prudential by 369.2% in the fourth quarter. Russell Investments Group Ltd. now owns 1,370 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 1,078 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Prudential by 45.9% in the second quarter. EverSource Wealth Advisors LLC now owns 2,222 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 699 shares during the period. Bruce G. Allen Investments LLC acquired a new position in Prudential during the 2nd quarter worth $44,000. Finally, National Bank of Canada FI grew its stake in Prudential by 198.0% during the 4th quarter. National Bank of Canada FI now owns 2,101 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 1,396 shares in the last quarter. 1.90% of the stock is currently owned by institutional investors and hedge funds.

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.