CIBC Asset Management Inc cut its position in shares of Prudential Public Limited (NYSE:PUK) by 10.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,127 shares of the financial services provider’s stock after selling 2,196 shares during the quarter. CIBC Asset Management Inc’s holdings in Prudential Public were worth $676,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. JPMorgan Chase & Co. lifted its stake in Prudential Public by 1.2% during the third quarter. JPMorgan Chase & Co. now owns 718,657 shares of the financial services provider’s stock worth $32,979,000 after purchasing an additional 8,481 shares during the last quarter. Jane Street Group LLC lifted its stake in Prudential Public by 1.1% during the third quarter. Jane Street Group LLC now owns 559,528 shares of the financial services provider’s stock worth $25,677,000 after purchasing an additional 6,106 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Prudential Public by 375.5% during the third quarter. Bank of New York Mellon Corp now owns 531,221 shares of the financial services provider’s stock worth $24,377,000 after purchasing an additional 419,508 shares during the last quarter. Scout Investments Inc. lifted its stake in Prudential Public by 10.5% during the fourth quarter. Scout Investments Inc. now owns 526,489 shares of the financial services provider’s stock worth $18,622,000 after purchasing an additional 49,974 shares during the last quarter. Finally, Capital Guardian Trust Co. increased its position in Prudential Public by 6.3% in the third quarter. Capital Guardian Trust Co. now owns 459,349 shares of the financial services provider’s stock worth $21,080,000 after buying an additional 27,024 shares during the period. Hedge funds and other institutional investors own 1.65% of the company’s stock.

PUK has been the topic of several analyst reports. Evercore ISI raised Prudential Public from an “in-line” rating to an “outperform” rating in a research report on Wednesday, January 9th. Societe Generale lowered Prudential Public from a “hold” rating to a “sell” rating in a research report on Tuesday, January 8th. ValuEngine lowered Prudential Public from a “hold” rating to a “sell” rating in a research report on Monday, January 7th. Zacks Investment Research lowered Prudential Public from a “hold” rating to a “sell” rating in a research report on Wednesday, March 6th. Finally, Royal Bank of Canada reaffirmed a “neutral” rating on shares of Prudential Public in a research report on Wednesday. Three analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $57.00.

Shares of PUK opened at $43.28 on Friday. The firm has a market cap of $54.22 billion, a PE ratio of 11.57, a price-to-earnings-growth ratio of 1.11 and a beta of 1.33. Prudential Public Limited has a one year low of $33.31 and a one year high of $53.77.

COPYRIGHT VIOLATION WARNING: “Prudential Public Limited (PUK) Shares Sold by CIBC Asset Management Inc” was originally reported by Daily Political and is the sole property of of Daily Political. If you are accessing this piece on another publication, it was copied illegally and republished in violation of U.S. & international trademark & copyright legislation. The original version of this piece can be read at https://www.dailypolitical.com/2019/03/16/prudential-public-limited-puk-shares-sold-by-cibc-asset-management-inc.html.

Prudential Public Profile

Prudential plc, together with its subsidiaries, provides a range of retail financial products and services, and asset management services in Asia, the United States, the United Kingdom, Europe, and Africa. The company offers health and protection, as well as other life insurance products, including participating business and mutual funds; and personal lines property and casualty insurance, group insurance, and institutional fund management services.

Featured Article: What does EPS mean?

Want to see what other hedge funds are holding PUK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Prudential Public Limited (NYSE:PUK).

Institutional Ownership by Quarter for Prudential Public (NYSE:PUK)

Receive News & Ratings for Prudential Public Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prudential Public and related companies with MarketBeat.com's FREE daily email newsletter.