Prudential PLC (NYSE:PUK) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.
According to Zacks, “PRUDENTIAL PLC provides retail financial products and services and fund management to many millions of customers worldwide. Their commitment to the shareholders who own Prudential is to maximise the value over time of their investment. They do this by investing for the long term to develop and bring out the best in their people and their businesses to produce superior products and services, and hence superior financial returns. Their aim is to deliver top quartile performance among their international peer group in terms of total shareholder returns. “
PUK has been the topic of several other research reports. JPMorgan Chase & Co. reiterated a “sell” rating on shares of Prudential PLC in a research note on Tuesday, September 6th. Societe Generale lowered shares of Prudential PLC from a “hold” rating to a “sell” rating in a research note on Wednesday, October 12th. Finally, Bank of America Corp. set a $42.40 price target on shares of Prudential PLC and gave the stock a “buy” rating in a research note on Wednesday, August 10th. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company’s stock. Prudential PLC has an average rating of “Hold” and a consensus target price of $44.63.
Shares of Prudential PLC (NYSE:PUK) opened at 33.54 on Friday. Prudential PLC has a 52-week low of $29.14 and a 52-week high of $48.54. The stock has a 50 day moving average of $36.05 and a 200 day moving average of $36.63. The company has a market cap of $43.06 billion, a P/E ratio of 18.45 and a beta of 1.70.
The company also recently disclosed a dividend, which was paid on Thursday, October 6th. Investors of record on Friday, August 26th were issued a dividend of $0.335 per share. The ex-dividend date of this dividend was Wednesday, August 24th.
Several hedge funds have recently bought and sold shares of the company. Rock Point Advisors LLC increased its stake in Prudential PLC by 56.6% in the second quarter. Rock Point Advisors LLC now owns 195,615 shares of the company’s stock valued at $6,653,000 after buying an additional 70,730 shares in the last quarter. Bank of Montreal Can purchased a new stake in Prudential PLC during the second quarter valued at about $1,336,000. CIBC World Markets Inc. purchased a new stake in Prudential PLC during the second quarter valued at about $257,000. Capstone Asset Management Co. increased its stake in Prudential PLC by 54.1% in the second quarter. Capstone Asset Management Co. now owns 288,022 shares of the company’s stock valued at $9,796,000 after buying an additional 101,090 shares in the last quarter. Finally, Founders Financial Securities LLC purchased a new stake in Prudential PLC during the second quarter valued at about $704,000. 1.44% of the stock is owned by institutional investors and hedge funds.
Prudential PLC Company Profile
Prudential PLC (Prudential) is an international financial services group with operations in Asia, the United States and the United Kingdom. The Company provides insurance and financial services directly and through its subsidiaries and affiliates across the world. Its operating segments include Insurance operations and Asset management operations.
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