Prudential (NYSE:PUK) Shares Gap Down to $18.80

Prudential plc (NYSE:PUK) shares gapped down before the market opened on Tuesday . The stock had previously closed at $18.80, but opened at $17.78. Prudential shares last traded at $17.87, with a volume of 262,213 shares changing hands.

Prudential Stock Down 6.3 %

The company’s 50-day simple moving average is $19.36 and its two-hundred day simple moving average is $20.83. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.03 and a current ratio of 0.03. The firm has a market cap of $24.24 billion, a PE ratio of 8.48, a PEG ratio of 1.03 and a beta of 1.29.

Prudential Increases Dividend

The business also recently announced a Semi-Annual dividend, which will be paid on Thursday, May 16th. Stockholders of record on Tuesday, April 2nd will be given a $0.2842 dividend. This is a boost from Prudential’s previous Semi-Annual dividend of $0.24. The ex-dividend date is Monday, April 1st. Prudential’s dividend payout ratio (DPR) is currently 27.27%.

Institutional Investors Weigh In On Prudential

Several institutional investors and hedge funds have recently modified their holdings of the stock. Glassman Wealth Services increased its stake in shares of Prudential by 135.7% in the 4th quarter. Glassman Wealth Services now owns 1,183 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 681 shares in the last quarter. Principal Securities Inc. bought a new position in shares of Prudential in the 4th quarter worth about $28,000. Russell Investments Group Ltd. increased its stake in shares of Prudential by 369.2% in the 4th quarter. Russell Investments Group Ltd. now owns 1,370 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 1,078 shares in the last quarter. National Bank of Canada FI increased its stake in shares of Prudential by 198.0% in the 4th quarter. National Bank of Canada FI now owns 2,101 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 1,396 shares in the last quarter. Finally, CWM LLC increased its stake in shares of Prudential by 24.1% in the 3rd quarter. CWM LLC now owns 2,830 shares of the financial services provider’s stock worth $62,000 after acquiring an additional 549 shares in the last quarter. 1.90% of the stock is owned by hedge funds and other 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.