Prudential Public (NYSE:PUK) Sees Large Volume Increase – Here’s What Happened

Prudential Public Limited Company (NYSE:PUK) shares saw an uptick in trading volume on Friday . 1,877,496 shares traded hands during mid-day trading, an increase of 96% from the previous session’s volume of 958,644 shares.The stock last traded at $27.62 and had previously closed at $27.33.

Analysts Set New Price Targets

PUK has been the subject of a number of analyst reports. UBS Group reiterated a “buy” rating on shares of Prudential Public in a research note on Thursday, August 28th. Barclays reaffirmed an “overweight” rating on shares of Prudential Public in a research report on Monday, September 8th. Wall Street Zen cut Prudential Public from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Prudential Public in a research report on Tuesday, October 14th. Five investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

Prudential Public Stock Performance

The business has a 50-day moving average price of $27.21 and a 200 day moving average price of $24.82.

Prudential Public Dividend Announcement

The firm also recently declared a dividend, which was paid on Thursday, October 16th. Investors of record on Friday, September 5th were paid a dividend of $0.1542 per share. This represents a dividend yield of 117.0%. The ex-dividend date was Friday, September 5th.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Northern Trust Corp boosted its position in shares of Prudential Public by 8.3% in the first quarter. Northern Trust Corp now owns 1,878,126 shares of the financial services provider’s stock valued at $40,380,000 after acquiring an additional 144,354 shares during the period. GAMMA Investing LLC lifted its stake in Prudential Public by 182.6% in the 1st quarter. GAMMA Investing LLC now owns 6,508 shares of the financial services provider’s stock worth $140,000 after purchasing an additional 4,205 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in Prudential Public in the 1st quarter worth approximately $272,000. Janney Montgomery Scott LLC purchased a new position in shares of Prudential Public during the 1st quarter valued at $201,000. Finally, Cambridge Investment Research Advisors Inc. purchased a new position in shares of Prudential Public during the 1st quarter valued at $216,000. Hedge funds and other institutional investors own 1.90% of the company’s stock.

Prudential Public Company Profile

Prudential plc, through its subsidiaries, provides life and health insurance, and asset management solutions to individuals in Asia and Africa. The company was founded in 1848 and is headquartered in Central, Hong Kong.