Prudential Public (NYSE:PUK) Rating Lowered to “Sell” at Wall Street Zen

Prudential Public (NYSE:PUK) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Sunday, Wall Street Zen reports.

Several other brokerages have also issued reports on PUK. Zacks Research raised shares of Prudential Public from a “strong sell” rating to a “hold” rating in a report on Monday, September 21st. Berenberg Bank set a $39.30 target price on shares of Prudential Public and gave the stock a “buy” rating in a research note on Thursday, September 3rd. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Prudential Public in a research note on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $39.30.

Prudential Public Price Performance

Prudential Public stock opened at $24.52 on Friday. Prudential Public has a 52 week low of $24.25 and a 52 week high of $34.03. The stock has a fifty day moving average of $27.29 and a 200-day moving average of $28.37.

Prudential Public (NYSE:PUK) last released its earnings results on Friday, August 14th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter. The business had revenue of $3.90 billion during the quarter. On average, sell-side analysts anticipate that Prudential Public will post 2.34 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Prudential Public

Several large investors have recently modified their holdings of the company. Bank of America Corp DE lifted its holdings in Prudential Public by 5.6% in the first quarter. Bank of America Corp DE now owns 4,470,630 shares of the financial services provider’s stock valued at $127,100,000 after buying an additional 238,189 shares during the period. Dimensional Fund Advisors LP grew its holdings in Prudential Public by 9.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,826,101 shares of the financial services provider’s stock worth $80,201,000 after acquiring an additional 240,416 shares during the period. Arrowstreet Capital Limited Partnership raised its position in shares of Prudential Public by 13.9% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,397,352 shares of the financial services provider’s stock worth $68,157,000 after acquiring an additional 292,677 shares in the last quarter. Quantinno Capital Management LP raised its position in shares of Prudential Public by 45.5% in the 1st quarter. Quantinno Capital Management LP now owns 638,516 shares of the financial services provider’s stock worth $18,153,000 after acquiring an additional 199,548 shares in the last quarter. Finally, Assetmark Inc. lifted its stake in shares of Prudential Public by 14,270.3% in the 1st quarter. Assetmark Inc. now owns 251,049 shares of the financial services provider’s stock valued at $7,137,000 after purchasing an additional 249,302 shares during the period. 1.90% of the stock is currently owned by institutional investors and hedge funds.

Prudential Public Company Profile

Prudential plc (NYSE: PUK) is an international insurance and financial services company headquartered in London. The company focuses on serving customers in Asia and Africa, providing financial protection and long-term savings solutions through its insurance and asset management businesses.

Its principal products and services include life insurance, health and medical coverage, savings and investment products, retirement planning, and wealth management. Prudential distributes its offerings through agency networks, bancassurance partnerships, brokers, and digital channels, serving individuals, families, and businesses.

Founded in 1848, Prudential has developed a substantial presence across markets including Hong Kong, mainland China, Indonesia, Malaysia, Singapore, Thailand, Vietnam, the Philippines, Taiwan, and selected African countries.