CIBC Asset Management Inc Sells 1,703 Shares of Prudential plc (NYSE:PUK)

CIBC Asset Management Inc trimmed its holdings in Prudential plc (NYSE:PUK) by 2.3% during the 3rd quarter, Holdings Channel.com reports. The fund owned 73,973 shares of the financial services provider’s stock after selling 1,703 shares during the period. CIBC Asset Management Inc’s holdings in Prudential were worth $1,373,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Janney Montgomery Scott LLC lifted its holdings in shares of Prudential by 31.0% in the first quarter. Janney Montgomery Scott LLC now owns 19,409 shares of the financial services provider’s stock worth $374,000 after buying an additional 4,594 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in Prudential by 98.0% in the 1st quarter. Russell Investments Group Ltd. now owns 2,712 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 1,342 shares in the last quarter. Virtu Financial LLC purchased a new stake in Prudential in the 1st quarter worth $492,000. Bruce G. Allen Investments LLC bought a new position in shares of Prudential during the 2nd quarter valued at about $44,000. Finally, Wealth Enhancement Advisory Services LLC grew its position in shares of Prudential by 16.1% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 59,749 shares of the financial services provider’s stock valued at $1,095,000 after purchasing an additional 8,307 shares in the last quarter. Institutional investors own 1.90% of the company’s stock.

Prudential Price Performance

Shares of Prudential stock opened at $16.03 on Thursday. The business has a 50 day simple moving average of $17.14 and a two-hundred day simple moving average of $17.87. Prudential plc has a 12 month low of $15.10 and a 12 month high of $23.37.

Prudential Cuts Dividend

The company also recently declared a Semi-Annual dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Friday, September 6th were given a dividend of $0.1368 per share. The ex-dividend date of this dividend was Friday, September 6th.

Wall Street Analyst Weigh In

A number of equities analysts have commented on PUK shares. StockNews.com raised shares of Prudential from a “sell” rating to a “hold” rating in a research note on Wednesday, August 28th. Barclays upgraded Prudential to a “strong-buy” rating in a report on Tuesday, October 15th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Prudential from a “buy” rating to a “hold” rating in a report on Monday, August 5th.

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.