Prudential (NYSE:PUK) Rating Increased to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Prudential (NYSE:PUKGet Rating) from a sell rating to a hold rating in a report published on Wednesday morning, Zacks.com reports.

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. “

PUK has been the subject of several other research reports. Societe Generale upgraded Prudential from a hold rating to a buy rating and decreased their price target for the stock from GBX 1,450 ($17.88) to GBX 1,375 ($16.95) in a research note on Tuesday, April 19th. JPMorgan Chase & Co. boosted their price target on Prudential from GBX 1,550 ($19.11) to GBX 1,590 ($19.60) in a research note on Friday, March 18th. Deutsche Bank Aktiengesellschaft decreased their price target on Prudential from GBX 1,550 ($19.11) to GBX 1,475 ($18.19) in a research note on Wednesday, April 20th. Barclays reduced their price objective on Prudential from GBX 1,719 ($21.19) to GBX 1,665 ($20.53) in a research report on Monday, April 4th. Finally, StockNews.com initiated coverage on Prudential in a research report on Thursday, March 31st. They set a hold rating for the company. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Buy and an average target price of $1,304.67.

PUK stock opened at $23.88 on Wednesday. Prudential has a 1-year low of $21.84 and a 1-year high of $44.42. The business has a fifty day moving average price of $27.23 and a 200-day moving average price of $32.36. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.04 and a current ratio of 0.04.

The business also recently declared a dividend, which was paid on Friday, May 13th. Shareholders of record on Friday, March 25th were given a $0.2372 dividend. This is a boost from Prudential’s previous dividend of $0.16. The ex-dividend date of this dividend was Thursday, March 24th. This represents a yield of 1.2%.

A number of institutional investors and hedge funds have recently modified their holdings of PUK. Bank of Montreal Can increased its position in Prudential by 1,861.3% in the fourth quarter. Bank of Montreal Can now owns 948,938 shares of the financial services provider’s stock worth $32,615,000 after buying an additional 900,556 shares in the last quarter. BlackRock Inc. increased its position in Prudential by 45.1% in the first quarter. BlackRock Inc. now owns 2,417,858 shares of the financial services provider’s stock worth $71,520,000 after buying an additional 751,756 shares in the last quarter. JPMorgan Chase & Co. increased its position in Prudential by 107.1% in the fourth quarter. JPMorgan Chase & Co. now owns 897,630 shares of the financial services provider’s stock worth $30,906,000 after buying an additional 464,246 shares in the last quarter. Causeway Capital Management LLC increased its position in Prudential by 43.0% in the first quarter. Causeway Capital Management LLC now owns 920,325 shares of the financial services provider’s stock worth $27,223,000 after buying an additional 276,933 shares in the last quarter. Finally, CIBC Asset Management Inc increased its position in Prudential by 252.2% in the first quarter. CIBC Asset Management Inc now owns 271,984 shares of the financial services provider’s stock worth $8,045,000 after buying an additional 194,762 shares in the last quarter. Institutional investors and hedge funds own 18.18% of the company’s stock.

Prudential Company Profile (Get Rating)

Prudential plc, through its subsidiaries, provides life and health insurance, and retirement and asset management solutions to individuals in Asia, and Africa. It offers health and protection, as well as savings products, such as participating, linked, and other traditional products. The company also provides insurance against common critical illnesses, including cancer, stroke, and heart attack; and tropical disease protection, such as dengue, malaria, and measles.

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