Prudential (NYSE:PUK) Hits New 12-Month Low at $20.23

Shares of Prudential plc (NYSE:PUKGet Rating) reached a new 52-week low during trading on Friday . The stock traded as low as $20.23 and last traded at $20.24, with a volume of 19192 shares. The stock had previously closed at $21.34.

Analyst Ratings Changes

Several research firms have commented on PUK. StockNews.com downgraded shares of Prudential from a “hold” rating to a “sell” rating in a research report on Monday, September 5th. Morgan Stanley decreased their target price on shares of Prudential from GBX 1,687 ($20.38) to GBX 1,380 ($16.67) in a research report on Wednesday, September 7th. Sanford C. Bernstein began coverage on shares of Prudential in a research note on Thursday, September 15th. They issued an “outperform” rating for the company. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Prudential from GBX 1,380 ($16.67) to GBX 1,450 ($17.52) in a research note on Friday. One equities research analyst has rated the stock with a sell rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,505.00.

Prudential Stock Down 4.2 %

The company’s 50 day moving average is $23.01 and its 200 day moving average is $25.05. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.04 and a current ratio of 0.72.

Prudential Increases Dividend

The business also recently announced a Semi-Annual dividend, which will be paid on Tuesday, September 27th. Investors of record on Friday, August 19th will be paid a dividend of $0.115 per share. This is a boost from Prudential’s previous Semi-Annual dividend of $0.11. The ex-dividend date of this dividend is Thursday, August 18th.

Insider Activity at Prudential

In related news, major shareholder Plc Prudential sold 4,500,000 shares of the company’s stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $27.00, for a total transaction of $121,500,000.00. Following the completion of the transaction, the insider now directly owns 7,635,443 shares in the company, valued at approximately $206,156,961. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.07% of the company’s stock.

Institutional Investors Weigh In On Prudential

Institutional investors and hedge funds have recently bought and sold shares of the business. FDx Advisors Inc. bought a new stake in Prudential in the 1st quarter valued at $486,000. Parallel Advisors LLC grew its holdings in shares of Prudential by 45.2% in the 1st quarter. Parallel Advisors LLC now owns 3,779 shares of the financial services provider’s stock worth $111,000 after purchasing an additional 1,177 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Prudential by 17.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 300,908 shares of the financial services provider’s stock worth $8,901,000 after purchasing an additional 44,096 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Prudential by 107.1% in the 4th quarter. JPMorgan Chase & Co. now owns 897,630 shares of the financial services provider’s stock worth $30,906,000 after purchasing an additional 464,246 shares during the last quarter. Finally, HNP Capital LLC bought a new stake in shares of Prudential in the 1st quarter worth about $314,000. Institutional investors own 1.96% of the company’s stock.

About Prudential

(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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