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. “

A number of other analysts also recently weighed in on PUK. Societe Generale downgraded shares of Prudential PLC from a “buy” rating to a “hold” rating in a research report on Tuesday, May 31st. Bank of America Corp. set a $42.40 price target on shares of Prudential PLC and gave the company a “buy” rating in a research report on Wednesday, August 10th. Finally, JPMorgan Chase & Co. downgraded shares of Prudential PLC from a “neutral” rating to an “underweight” rating in a research report on Tuesday, July 5th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. Prudential PLC has an average rating of “Buy” and an average target price of $44.63.

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Shares of Prudential PLC (NYSE:PUK) opened at 35.81 on Wednesday. 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 $36.39 and a 200-day moving average of $36.93. The firm has a market capitalization of $45.98 billion, a PE ratio of 18.81 and a beta of 1.73.

The firm also recently announced a dividend, which will be paid on Thursday, October 6th. Investors of record on Friday, August 26th will be paid a dividend of $0.335 per share. The ex-dividend date is Wednesday, August 24th.

A number of hedge funds have recently bought and sold shares of PUK. Glenmede Trust Co. NA boosted its stake in Prudential PLC by 115.4% in the first quarter. Glenmede Trust Co. NA now owns 145,378 shares of the company’s stock worth $5,406,000 after buying an additional 77,874 shares during the last quarter. Apex Capital Management boosted its position in shares of Prudential PLC by 50.7% in the first quarter. Apex Capital Management now owns 39,032 shares of the company’s stock valued at $1,452,000 after buying an additional 13,133 shares in the last quarter. Connable Office Inc. boosted its position in shares of Prudential PLC by 12.9% in the first quarter. Connable Office Inc. now owns 15,999 shares of the company’s stock valued at $595,000 after buying an additional 1,829 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Prudential PLC by 9.5% in the first quarter. JPMorgan Chase & Co. now owns 869,836 shares of the company’s stock valued at $32,357,000 after buying an additional 75,559 shares in the last quarter. Finally, UBS Group AG boosted its position in shares of Prudential PLC by 65.2% in the first quarter. UBS Group AG now owns 79,156 shares of the company’s stock valued at $2,944,000 after buying an additional 31,234 shares in the last quarter. 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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