StockNews.com Downgrades Prudential (NYSE:PUK) to Sell

Prudential (NYSE:PUK) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Monday.

Several other equities analysts have also commented on PUK. Barclays raised Prudential to a “strong-buy” rating in a research note on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft lowered Prudential from a “buy” rating to a “hold” rating in a research note on Monday, August 5th.

Prudential Stock Performance

Shares of NYSE:PUK opened at $16.10 on Monday. The business has a fifty day moving average of $17.11 and a two-hundred day moving average of $17.76. Prudential has a 52-week low of $15.10 and a 52-week high of $23.13.

Hedge Funds Weigh In On Prudential

Several hedge funds have recently bought and sold shares of the company. Marshall Wace LLP lifted its stake in Prudential by 13.5% during the 2nd quarter. Marshall Wace LLP now owns 1,076,579 shares of the financial services provider’s stock worth $19,723,000 after acquiring an additional 128,124 shares in the last quarter. Mediolanum International Funds Ltd acquired a new position in Prudential during the 3rd quarter worth about $19,505,000. Envestnet Asset Management Inc. lifted its stake in Prudential by 8.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 918,639 shares of the financial services provider’s stock worth $16,829,000 after acquiring an additional 72,093 shares in the last quarter. Bank of Montreal Can lifted its stake in Prudential by 15.0% during the 2nd quarter. Bank of Montreal Can now owns 795,969 shares of the financial services provider’s stock worth $15,418,000 after acquiring an additional 103,625 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Prudential by 0.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 762,032 shares of the financial services provider’s stock worth $13,960,000 after acquiring an additional 4,082 shares in the last quarter. Institutional investors and hedge funds own 1.90% of the company’s stock.

Prudential 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.