Prudential Public (NYSE:PUK) Reaches New 1-Year Low – Time to Sell?

Shares of Prudential Public Limited Company (NYSE:PUK) hit a new 52-week low on Thursday. The company traded as low as $24.55 and last traded at $24.6010, with a volume of 16845 shares changing hands. The stock had previously closed at $24.74.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PUK. Wall Street Zen raised shares of Prudential Public from a “sell” rating to a “hold” rating in a research report on Saturday, September 26th. Weiss Ratings restated a “hold (c+)” rating on shares of Prudential Public in a report on Monday, July 6th. Zacks Research raised shares of Prudential Public from a “strong sell” rating to a “hold” rating in a research report on Monday, September 21st. Finally, Berenberg Bank set a $39.30 price target on Prudential Public and gave the company a “buy” rating in a report on Thursday, September 3rd. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $39.30.

Prudential Public Stock Performance

The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.04 and a current ratio of 0.03. The stock has a 50-day moving average price of $27.57 and a 200-day moving average price of $28.46.

Prudential Public (NYSE:PUK) last announced its earnings results on Friday, August 14th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter. The business had revenue of $3.90 billion during the quarter. Equities research analysts anticipate that Prudential Public Limited Company will post 2.34 earnings per share for the current year.

Prudential Public Dividend Announcement

The company also recently disclosed a dividend, which will be paid on Thursday, October 22nd. Investors of record on Friday, September 11th will be issued a $0.1776 dividend. This represents a yield of 133.0%. The ex-dividend date of this dividend is Friday, September 11th.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Bank of America Corp DE increased its holdings in shares of Prudential Public by 5.6% in the 1st quarter. Bank of America Corp DE now owns 4,470,630 shares of the financial services provider’s stock valued at $127,100,000 after acquiring an additional 238,189 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Prudential Public by 9.3% in the first quarter. Dimensional Fund Advisors LP now owns 2,826,101 shares of the financial services provider’s stock worth $80,201,000 after purchasing an additional 240,416 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in Prudential Public by 13.9% in the first quarter. Arrowstreet Capital Limited Partnership now owns 2,397,352 shares of the financial services provider’s stock worth $68,157,000 after purchasing an additional 292,677 shares during the period. Quantinno Capital Management LP increased its stake in Prudential Public by 45.5% during the first quarter. Quantinno Capital Management LP now owns 638,516 shares of the financial services provider’s stock valued at $18,153,000 after purchasing an additional 199,548 shares during the last quarter. Finally, Assetmark Inc. raised its holdings in shares of Prudential Public by 14,270.3% during the first quarter. Assetmark Inc. now owns 251,049 shares of the financial services provider’s stock worth $7,137,000 after purchasing an additional 249,302 shares during the period. Institutional investors and hedge funds own 1.90% of the company’s stock.

About Prudential Public

Prudential plc (NYSE: PUK) is an international insurance and financial services company headquartered in London. The company focuses on serving customers in Asia and Africa, providing financial protection and long-term savings solutions through its insurance and asset management businesses.

Its principal products and services include life insurance, health and medical coverage, savings and investment products, retirement planning, and wealth management. Prudential distributes its offerings through agency networks, bancassurance partnerships, brokers, and digital channels, serving individuals, families, and businesses.

Founded in 1848, Prudential has developed a substantial presence across markets including Hong Kong, mainland China, Indonesia, Malaysia, Singapore, Thailand, Vietnam, the Philippines, Taiwan, and selected African countries.