Prudential plc (NYSE:PUK) Short Interest Down 21.1% in December

Prudential plc (NYSE:PUK) was the target of a large drop in short interest in the month of December. As of December 31st, there was short interest totalling 246,800 shares, a drop of 21.1% from the December 15th total of 312,700 shares. Based on an average daily volume of 1,050,000 shares, the short-interest ratio is currently 0.2 days.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Prudential

A number of institutional investors and hedge funds have recently made changes to their positions in PUK. EverSource Wealth Advisors LLC grew its stake in 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. GAMMA Investing LLC increased its stake in Prudential by 95.8% during the 4th quarter. GAMMA Investing LLC now owns 2,303 shares of the financial services provider’s stock worth $37,000 after buying an additional 1,127 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in Prudential by 51.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 7,057 shares of the financial services provider’s stock worth $131,000 after buying an additional 2,394 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in Prudential by 43.6% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 8,254 shares of the financial services provider’s stock valued at $151,000 after buying an additional 2,507 shares during the last quarter. Finally, Blue Trust Inc. grew its stake in shares of Prudential by 260.7% during the third quarter. Blue Trust Inc. now owns 9,735 shares of the financial services provider’s stock valued at $178,000 after acquiring an additional 7,036 shares in the last quarter. 1.90% of the stock is currently owned by institutional investors and hedge funds.

Prudential Stock Performance

Prudential stock traded up $0.36 during trading on Wednesday, reaching $15.10. The company had a trading volume of 771,777 shares, compared to its average volume of 1,056,116. Prudential has a 12-month low of $14.39 and a 12-month high of $22.07. The stock’s 50 day moving average price is $16.07 and its two-hundred day moving average price is $16.98. The firm has a market capitalization of $20.06 billion, a price-to-earnings ratio of 7.48, a PEG ratio of 0.46 and a beta of 1.20.

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.