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

by · The Cerbat Gem

Prudential plc (NYSE:PUK – Get Free Report) was the target 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 days-to-cover ratio is currently 0.2 days.

Hedge Funds Weigh In On Prudential

Large investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC increased its stake in shares of Prudential by 45.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,222 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 699 shares during the last quarter. GAMMA Investing LLC grew its holdings in Prudential by 95.8% in the fourth quarter. GAMMA Investing LLC now owns 2,303 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 1,127 shares during the period. Allspring Global Investments Holdings LLC increased its position in Prudential by 51.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 7,057 shares of the financial services provider’s stock worth $131,000 after purchasing an additional 2,394 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in Prudential by 43.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 8,254 shares of the financial services provider’s stock worth $151,000 after purchasing an additional 2,507 shares during the period. Finally, Blue Trust Inc. boosted its holdings in shares of Prudential by 260.7% in the 3rd quarter. Blue Trust Inc. now owns 9,735 shares of the financial services provider’s stock valued at $178,000 after purchasing an additional 7,036 shares during the last quarter. 1.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on PUK shares. Barclays upgraded Prudential to a “strong-buy” rating in a research report on Tuesday, October 15th. StockNews.com downgraded shares of Prudential from a “hold” rating to a “sell” rating in a report on Monday, November 25th.

Get Our Latest Analysis on PUK

Prudential Trading Up 3.6 %

Shares of Prudential stock traded up $0.55 during trading hours on Friday, reaching $15.83. 1,144,815 shares of the company’s stock were exchanged, compared to its average volume of 1,146,310. Prudential has a 52-week low of $14.39 and a 52-week high of $22.07. The company has a fifty day moving average of $15.98 and a 200-day moving average of $16.95.

Prudential Company Profile

(Get Free Report)

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.

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