Societe Generale Downgrades Prudential PLC (PUK) to Sell
Prudential PLC (NYSE:PUK) was downgraded by stock analysts at Societe Generale from a “hold” rating to a “sell” rating in a research note issued on Wednesday, The Fly reports.
Other equities research analysts have also issued reports about the company. Zacks Investment Research upgraded Prudential PLC from a “hold” rating to a “buy” rating and set a $42.00 price objective for the company in a research note on Tuesday, September 13th. JPMorgan Chase & Co. lowered Prudential PLC from a “neutral” rating to an “underweight” rating in a research note on Tuesday, July 5th. Finally, Bank of America Corp. set a $42.40 price objective on Prudential PLC and gave the stock a “buy” rating in a research note on Wednesday, August 10th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $44.63.
Prudential PLC (NYSE:PUK) traded up 0.91% on Wednesday, hitting $35.41. The stock had a trading volume of 1,044,172 shares. Prudential PLC has a 52-week low of $29.14 and a 52-week high of $48.54. The firm has a market cap of $45.46 billion, a price-to-earnings ratio of 19.48 and a beta of 1.70. The company’s 50 day moving average price is $36.26 and its 200 day moving average price is $36.71.
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The firm also recently declared a dividend, which was paid on Thursday, October 6th. Shareholders of record on Friday, August 26th were paid a $0.335 dividend. The ex-dividend date of this dividend was Wednesday, August 24th.
Large investors have recently modified their holdings of the company. Capstone Asset Management Co. raised its stake in shares of Prudential PLC by 1.0% in the third quarter. Capstone Asset Management Co. now owns 290,932 shares of the company’s stock worth $10,389,000 after buying an additional 2,910 shares during the last quarter. Raymond James Trust N.A. increased its position in Prudential PLC by 7.9% in the third quarter. Raymond James Trust N.A. now owns 16,538 shares of the company’s stock valued at $590,000 after buying an additional 1,210 shares during the period. Northwestern Mutual Wealth Management Co. increased its position 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. Stifel Financial Corp increased its position in Prudential PLC by 106.6% in the second quarter. Stifel Financial Corp now owns 27,930 shares of the company’s stock valued at $951,000 after buying an additional 14,412 shares during the period. Finally, Fiera Capital Corp bought a new position in Prudential PLC during the second quarter valued at approximately $1,824,000. Institutional investors and hedge funds own 1.44% of the company’s stock.
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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