Prudential PLC (PUK) Downgraded by Zacks Investment Research to “Hold”
Prudential PLC (NYSE:PUK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.
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. “
Several other research firms have also recently weighed in on PUK. Bank of America Corp. set a $42.40 price target on shares of Prudential PLC and gave the stock a “buy” rating in a report on Wednesday, August 10th. JPMorgan Chase & Co. cut shares of Prudential PLC from a “neutral” rating to an “underweight” rating in a report on Tuesday, July 5th. Finally, Societe Generale cut shares of Prudential PLC from a “buy” rating to a “hold” rating in a report on Tuesday, May 31st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $44.63.
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Shares of Prudential PLC (NYSE:PUK) traded up 2.37% on Wednesday, hitting $36.66. 808,028 shares of the stock traded hands. 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 price of $36.44 and a 200-day moving average price of $36.93. The stock has a market cap of $47.07 billion, a price-to-earnings ratio of 19.25 and a beta of 1.73.
The business also recently announced a dividend, which will be paid on Thursday, October 6th. Shareholders of record on Friday, August 26th will be paid a $0.335 dividend. The ex-dividend date is Wednesday, August 24th.
Several hedge funds have recently bought and sold shares of PUK. Northwestern Mutual Wealth Management Co. raised its stake in 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 during the period. Ladenburg Thalmann Financial Services Inc. raised its stake in Prudential PLC by 21.5% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,493 shares of the company’s stock valued at $129,000 after buying an additional 619 shares during the period. NEXT Financial Group Inc raised its stake in Prudential PLC by 100.2% in the second quarter. NEXT Financial Group Inc now owns 3,796 shares of the company’s stock valued at $129,000 after buying an additional 1,900 shares during the period. Advisor Group Inc. acquired a new stake in Prudential PLC during the second quarter valued at about $162,000. Finally, Boothbay Fund Management LLC acquired a new stake in Prudential PLC during the first quarter valued at about $218,000. 1.44% of the stock is currently owned by institutional investors.
About Prudential PLC
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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