The Prudential PLC (PUK) Upgrade by Deutsche Bank AG to “Buy”

The Prudential PLC (PUK) Upgrade by Deutsche Bank AG to “Buy”

Prudential PLC (NYSE:PUK) was upgraded by investment analysts at Deutsche Bank AG from a “hold” rating to a “buy” rating in a report issued on Wednesday.

Several other analysts have also weighed in on PUK. Societe Generale lowered shares of Prudential PLC from a “hold” rating to a “sell” rating in a report on Wednesday, October 12th. JPMorgan Chase & Co. reaffirmed a “sell” rating on shares of Prudential PLC in a report on Tuesday, September 6th. Zacks Investment Research lowered shares of Prudential PLC from a “hold” rating to a “sell” rating in a report on Friday, October 14th. Finally, Bank of America Corp. set a $42.40 price objective on shares of Prudential PLC and gave the stock a “buy” rating in a report on Wednesday, August 10th. Three research analysts have rated the stock with a sell rating and seven have given a buy rating to the company. Prudential PLC currently has a consensus rating of “Hold” and a consensus target price of $44.63.

Shares of Prudential PLC (NYSE:PUK) traded up 0.89% during mid-day trading on Wednesday, reaching $38.71. 243,042 shares of the company were exchanged. Prudential PLC has a 12 month low of $29.14 and a 12 month high of $47.30. The firm has a 50-day moving average price of $35.36 and a 200 day moving average price of $35.96. The stock has a market capitalization of $49.70 billion, a P/E ratio of 21.97 and a beta of 1.67.

Several hedge funds have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. raised its stake in shares of 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 shares of 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 during the last quarter. Advisor Group Inc. acquired a new position in shares of Prudential PLC during the second quarter worth about $162,000. Boothbay Fund Management LLC acquired a new position in shares of Prudential PLC during the first quarter worth about $218,000. Finally, M&T Bank Corp boosted its position in shares of Prudential PLC by 8.9% in the third quarter. M&T Bank Corp now owns 6,650 shares of the company’s stock worth $237,000 after buying an additional 546 shares during the last quarter. 1.46% of the stock is owned by institutional investors and hedge funds.

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