Northwestern Mutual Wealth Management Co. Has $151,000 Stock Position in Prudential plc (NYSE:PUK)

Northwestern Mutual Wealth Management Co. raised its position in shares of Prudential plc (NYSE:PUK) by 43.6% in the second quarter, according to its most recent filing with the SEC. The firm owned 8,254 shares of the financial services provider’s stock after purchasing an additional 2,507 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Prudential were worth $151,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in PUK. EverSource Wealth Advisors LLC increased its position in shares of Prudential by 45.9% during the second quarter. EverSource Wealth Advisors LLC now owns 2,222 shares of the financial services provider’s stock worth $40,000 after buying an additional 699 shares during the period. Bruce G. Allen Investments LLC acquired a new stake in shares of Prudential during the 2nd quarter worth approximately $44,000. Russell Investments Group Ltd. increased its stake in shares of Prudential by 98.0% in the 1st quarter. Russell Investments Group Ltd. now owns 2,712 shares of the financial services provider’s stock valued at $52,000 after acquiring an additional 1,342 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Prudential by 202.2% during the 2nd quarter. Blue Trust Inc. now owns 2,699 shares of the financial services provider’s stock valued at $52,000 after acquiring an additional 1,806 shares during the period. Finally, Allspring Global Investments Holdings LLC bought a new position in Prudential during the first quarter worth $75,000. Institutional investors own 1.90% of the company’s stock.

Prudential Stock Performance

Prudential stock opened at $17.96 on Friday. Prudential plc has a fifty-two week low of $15.77 and a fifty-two week high of $23.73. The firm’s 50-day simple moving average is $17.18 and its 200 day simple moving average is $18.22. The stock has a market cap of $24.69 billion, a PE ratio of 8.27, a price-to-earnings-growth ratio of 0.52 and a beta of 1.22.

Prudential Cuts Dividend

The firm also recently announced a Semi-Annual dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Friday, September 6th will be paid a $0.1368 dividend. The ex-dividend date is Friday, September 6th. Prudential’s payout ratio is presently 12.44%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. BNP Paribas raised shares of Prudential from a “neutral” rating to an “outperform” rating in a research note on Wednesday, June 26th. Deutsche Bank Aktiengesellschaft cut Prudential from a “buy” rating to a “hold” rating in a research report on Monday, August 5th. Finally, StockNews.com raised Prudential from a “sell” rating to a “hold” rating in a research report on Wednesday, August 28th.

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.