Prudential PLC (PUK) Raised to “Hold” at Zacks Investment Research
Prudential PLC (NYSE:PUK) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday.
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. “
A number of other brokerages also recently commented on PUK. Morgan Stanley reaffirmed a “buy” rating on shares of Prudential PLC in a research report on Monday. JPMorgan Chase & Co. reaffirmed a “sell” rating on shares of Prudential PLC in a research report on Tuesday, September 6th. Bank of America Corp. set a $42.40 price target on Prudential PLC and gave the company a “buy” rating in a research report on Wednesday, August 10th. Societe Generale downgraded Prudential PLC from a “hold” rating to a “sell” rating in a research report on Wednesday, October 12th. Finally, Deutsche Bank AG raised Prudential PLC from a “hold” rating to a “buy” rating in a research report on Wednesday, November 2nd. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the stock. Prudential PLC currently has an average rating of “Buy” and an average target price of $44.63.
Prudential PLC (NYSE:PUK) opened at 38.07 on Tuesday. The firm has a market cap of $48.88 billion, a PE ratio of 21.61 and a beta of 1.67. The stock’s 50 day moving average price is $35.42 and its 200-day moving average price is $35.94. Prudential PLC has a 12-month low of $29.14 and a 12-month high of $47.30.
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Institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its position in Prudential PLC by 6.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,064,693 shares of the company’s stock worth $36,210,000 after buying an additional 66,201 shares during the last quarter. TD Asset Management Inc. raised its position in Prudential PLC by 40.5% in the second quarter. TD Asset Management Inc. now owns 156,438 shares of the company’s stock worth $7,786,000 after buying an additional 45,083 shares during the last quarter. World Asset Management Inc raised its position in Prudential PLC by 8.3% in the second quarter. World Asset Management Inc now owns 79,630 shares of the company’s stock worth $2,708,000 after buying an additional 6,127 shares during the last quarter. Ameriprise Financial Inc. raised its position in Prudential PLC by 6.7% in the second quarter. Ameriprise Financial Inc. now owns 141,293 shares of the company’s stock worth $4,803,000 after buying an additional 8,871 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC bought a new position in Prudential PLC during the second quarter worth approximately $3,838,000. 1.49% of the stock is owned by hedge funds and other institutional investors.
About Prudential PLC
Prudential Public Limited Company is an international financial services company. The Company has operations in Asia, the United States and the United Kingdom. Its segments include Insurance operations, including Asia, the United States (Jackson National Life Insurance Company (Jackson)) and the United Kingdom, and Asset management operations, including Eastspring Investments, the United States broker-dealer and asset management, M&G and Prudential Capital.
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