Prudential PLC (PUK) Downgraded by Societe Generale to “Sell”
Prudential PLC (NYSE:PUK) was downgraded by Societe Generale from a “hold” rating to a “sell” rating in a report issued on Wednesday, The Fly reports.
A number of other equities research analysts also recently commented on PUK. Zacks Investment Research downgraded Prudential PLC from a “hold” rating to a “sell” rating in a research report on Wednesday, June 29th. Bank of America Corp. set a $42.40 price objective on Prudential PLC and gave the company a “buy” rating in a research report on Wednesday, August 10th. Finally, JPMorgan Chase & Co. downgraded Prudential PLC from a “neutral” rating to an “underweight” rating in a research report on Tuesday, July 5th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the stock. Prudential PLC has an average rating of “Hold” and a consensus target price of $44.63.
Prudential PLC (NYSE:PUK) traded up 1.012% during midday trading on Wednesday, reaching $35.445. The company’s stock had a trading volume of 549,919 shares. The firm has a market capitalization of $45.51 billion, a price-to-earnings ratio of 19.497 and a beta of 1.70. Prudential PLC has a 12 month low of $29.14 and a 12 month high of $48.54. The stock’s 50-day moving average price is $36.26 and its 200-day moving average price is $36.71.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/12/prudential-plc-puk-downgraded-by-societe-generale-to-sell.html
The firm also recently announced a dividend, which was paid on Thursday, October 6th. Stockholders of record on Friday, August 26th were issued a $0.335 dividend. The ex-dividend date was Wednesday, August 24th.
Several hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. raised its stake in Prudential PLC by 9.5% in the first quarter. JPMorgan Chase & Co. now owns 869,836 shares of the company’s stock worth $32,357,000 after buying an additional 75,559 shares during the last quarter. UBS Group AG raised its stake in Prudential PLC by 65.2% in the first quarter. UBS Group AG now owns 79,156 shares of the company’s stock worth $2,944,000 after buying an additional 31,234 shares during the last quarter. Forward Management LLC acquired a new stake in Prudential PLC during the first quarter worth about $2,013,000. OLD Mission Capital LLC raised its stake in Prudential PLC by 312.9% in the first quarter. OLD Mission Capital LLC now owns 151,376 shares of the company’s stock worth $5,631,000 after buying an additional 114,710 shares during the last quarter. Finally, HBK Investments L P raised its stake in Prudential PLC by 236.8% in the first quarter. HBK Investments L P now owns 52,500 shares of the company’s stock worth $1,953,000 after buying an additional 36,913 shares during the last quarter. Institutional investors own 1.44% of the company’s stock.
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.
Receive News & Ratings for Prudential PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prudential PLC and related companies with MarketBeat.com's FREE daily email newsletter.