Prudential PLC (PUK) Downgraded by Zacks Investment Research to Sell
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. “
A number of other research analysts have also recently commented on PUK. JPMorgan Chase & Co. reaffirmed a sell rating on shares of Prudential PLC in a research report on Tuesday, September 6th. Societe Generale cut shares of Prudential PLC from a hold rating to a sell rating in a research report on Wednesday, October 12th. Finally, Bank of America Corp. set a $42.40 target price on shares of Prudential PLC and gave the company a buy rating in a research report on Wednesday, August 10th. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $44.63.
Shares of Prudential PLC (NYSE:PUK) traded down 0.88% on Friday, hitting $33.66. 207,463 shares of the stock were exchanged. The stock has a market cap of $43.22 billion, a PE ratio of 18.51 and a beta of 1.70. Prudential PLC has a 52-week low of $29.14 and a 52-week high of $48.54. The company’s 50 day moving average is $36.11 and its 200-day moving average is $36.66.
The firm also recently declared a dividend, which was paid on Thursday, October 6th. Stockholders of record on Friday, August 26th were given a dividend of $0.335 per share. The ex-dividend date of this dividend was Wednesday, August 24th.
Several hedge funds have recently modified their holdings of PUK. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Prudential PLC by 2.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,391 shares of the company’s stock valued at $115,000 after buying an additional 68 shares in the last quarter. Highland Capital Management LLC boosted its stake in shares of Prudential PLC by 0.5% in the third quarter. Highland Capital Management LLC now owns 19,559 shares of the company’s stock valued at $698,000 after buying an additional 100 shares in the last quarter. Aberdeen Asset Management PLC UK raised its stake in Prudential PLC by 11.4% in the second quarter. Aberdeen Asset Management PLC UK now owns 8,800 shares of the company’s stock worth $299,000 after buying an additional 900 shares during the last quarter. Rhumbline Advisers raised its stake in Prudential PLC by 6.5% in the second quarter. Rhumbline Advisers now owns 14,714 shares of the company’s stock worth $500,000 after buying an additional 900 shares during the last quarter. Finally, Raymond James Trust N.A. raised its stake in Prudential PLC by 6.4% in the second quarter. Raymond James Trust N.A. now owns 15,328 shares of the company’s stock worth $521,000 after buying an additional 920 shares during the last quarter. 1.44% of the stock is currently 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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