Prudential (NYSE:PUK) Earns Sell Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Prudential (NYSE:PUK – Get Rating) in a research report report published on Thursday. The brokerage issued a sell rating on the financial services provider’s stock.

Several other equities research analysts also recently commented on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Prudential from GBX 1,400 ($17.06) to GBX 1,450 ($17.67) in a research report on Tuesday, January 10th. BNP Paribas cut shares of Prudential from a neutral rating to an underperform rating in a report on Thursday, January 5th. The Goldman Sachs Group upgraded shares of Prudential from a buy rating to a conviction-buy rating in a report on Monday, January 16th. Barclays boosted their price target on shares of Prudential from GBX 1,518 ($18.50) to GBX 1,750 ($21.33) in a report on Monday, February 27th. Finally, Daiwa Capital Markets started coverage on shares of Prudential in a research note on Monday, December 19th. They issued an outperform rating on the stock. Two research analysts have rated the stock with a sell rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $1,530.83.

Prudential Price Performance

NYSE:PUK opened at $24.47 on Thursday. The firm has a 50-day moving average of $30.97 and a 200-day moving average of $25.67. Prudential has a one year low of $18.20 and a one year high of $34.37.

Prudential Increases Dividend

The business also recently disclosed a Semi-Annual dividend, which will be paid on Monday, May 15th. Stockholders of record on Friday, March 24th will be given a dividend of $0.2608 per share. The ex-dividend date of this dividend is Thursday, March 23rd. This represents a dividend yield of 1.47%. This is a boost from Prudential’s previous Semi-Annual dividend of $0.24.

Hedge Funds Weigh In On Prudential

Several institutional investors and hedge funds have recently made changes to their positions in PUK. Bank of New York Mellon Corp grew its holdings in shares of Prudential by 14.6% during the 1st quarter. Bank of New York Mellon Corp now owns 807,381 shares of the financial services provider’s stock valued at $23,881,000 after purchasing an additional 102,809 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Prudential by 37.1% during the 1st quarter. American Century Companies Inc. now owns 51,990 shares of the financial services provider’s stock valued at $1,538,000 after purchasing an additional 14,067 shares during the last quarter. US Bancorp DE grew its holdings in shares of Prudential by 35.0% during the 1st quarter. US Bancorp DE now owns 18,524 shares of the financial services provider’s stock valued at $548,000 after purchasing an additional 4,801 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Prudential by 45.1% during the 1st quarter. BlackRock Inc. now owns 2,417,858 shares of the financial services provider’s stock valued at $71,520,000 after purchasing an additional 751,756 shares during the last quarter. Finally, Sei Investments Co. grew its holdings in shares of Prudential by 42.4% during the 1st quarter. Sei Investments Co. now owns 206,600 shares of the financial services provider’s stock valued at $6,132,000 after purchasing an additional 61,500 shares during the last quarter. Institutional investors own 1.93% of the company’s stock.

About Prudential

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Prudential Plc is a holding company, which engages in the provision of insurance and financial services. It operates through the Asia and U.S. geographical segments. The Asia segment consists of health and protection, other life insurance, mutual funds, selected personal lines property and casualty insurance, group insurance, and institutional fund management.