Prudential PLC (NYSE:PUK) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Friday.
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 topic of a number of other reports. JPMorgan Chase & Co. reiterated a “sell” rating on shares of Prudential PLC in a report on Tuesday, September 6th. Bank of America Corp. set a $42.40 price objective on shares of Prudential PLC and gave the stock a “buy” rating in a research note on Wednesday, August 10th. Finally, Societe Generale cut shares of Prudential PLC from a “hold” rating to a “sell” rating in a research note on Wednesday. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $44.63.
Prudential PLC (NYSE:PUK) opened at 34.13 on Friday. The company has a market capitalization of $43.82 billion, a P/E ratio of 18.77 and a beta of 1.70. The company has a 50-day moving average of $36.16 and a 200-day moving average of $36.68. Prudential PLC has a 1-year low of $29.14 and a 1-year high of $48.54.
The company also recently declared a dividend, which was paid on Thursday, October 6th. Investors of record on Friday, August 26th were paid a dividend of $0.335 per share. The ex-dividend date of this dividend was Wednesday, August 24th.
Several institutional investors have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. boosted 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 worth $115,000 after buying an additional 68 shares in the last quarter. NEXT Financial Group Inc boosted its position in Prudential PLC by 100.2% in the second quarter. NEXT Financial Group Inc now owns 3,796 shares of the company’s stock worth $129,000 after buying an additional 1,900 shares in the last quarter. Advisor Group Inc. purchased a new position in Prudential PLC during the second quarter worth approximately $162,000. Boothbay Fund Management LLC purchased a new position in Prudential PLC during the first quarter worth approximately $218,000. Finally, CIBC World Markets Inc. purchased a new position in Prudential PLC during the second quarter worth approximately $257,000. 1.44% of the stock is owned by hedge funds and other institutional investors.
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.