Y Intercept Hong Kong Ltd Acquires New Stake in Prudential plc (NYSE:PUK)

Y Intercept Hong Kong Ltd bought a new stake in Prudential plc (NYSE:PUK) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 98,500 shares of the financial services provider’s stock, valued at approximately $1,826,000.

Other hedge funds also recently modified their holdings of the company. Marshall Wace LLP lifted its stake in shares of Prudential by 13.5% during the second quarter. Marshall Wace LLP now owns 1,076,579 shares of the financial services provider’s stock valued at $19,723,000 after buying an additional 128,124 shares during the period. Mediolanum International Funds Ltd purchased a new position in shares of Prudential during the 3rd quarter worth $19,505,000. Envestnet Asset Management Inc. boosted its holdings in shares of Prudential by 8.5% during the second quarter. Envestnet Asset Management Inc. now owns 918,639 shares of the financial services provider’s stock worth $16,829,000 after purchasing an additional 72,093 shares during the last quarter. Bank of Montreal Can grew its position in shares of Prudential by 15.0% in the second quarter. Bank of Montreal Can now owns 795,969 shares of the financial services provider’s stock valued at $15,418,000 after purchasing an additional 103,625 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in Prudential by 0.5% in the second quarter. Bank of New York Mellon Corp now owns 762,032 shares of the financial services provider’s stock valued at $13,960,000 after purchasing an additional 4,082 shares during the last quarter. 1.90% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Prudential Stock Performance

Shares of NYSE:PUK opened at $17.05 on Wednesday. Prudential plc has a 12 month low of $15.10 and a 12 month high of $22.93. The business has a 50-day moving average of $16.93 and a two-hundred day moving average of $17.52.

Prudential Profile

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.