Prudential (NYSE:PUK) Hits New 12-Month High – Time to Buy?

Prudential plc (NYSE:PUK)’s stock price hit a new 52-week high during trading on Monday . The company traded as high as $21.11 and last traded at $21.19, with a volume of 8619 shares trading hands. The stock had previously closed at $20.67.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Prudential from a “sell” rating to a “hold” rating in a report on Saturday.

Prudential Price Performance

The firm’s 50-day simple moving average is $17.73 and its two-hundred day simple moving average is $17.05. The company has a market capitalization of $27.79 billion, a price-to-earnings ratio of 9.13, a price-to-earnings-growth ratio of 0.41 and a beta of 1.21.

Prudential Increases Dividend

The firm also recently declared a dividend, which will be paid on Wednesday, May 14th. Stockholders of record on Friday, March 28th will be given a $0.3258 dividend. The ex-dividend date is Friday, March 28th. This is a positive change from Prudential’s previous dividend of $0.24. Prudential’s dividend payout ratio is currently 11.64%.

Institutional Trading of Prudential

Several large investors have recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC grew its position in shares of Prudential by 33.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 79,442 shares of the financial services provider’s stock valued at $1,266,000 after purchasing an additional 19,889 shares during the last quarter. Two Sigma Advisers LP acquired a new stake in shares of Prudential in the fourth quarter valued at approximately $773,000. Two Sigma Investments LP boosted its position in Prudential by 63.1% during the fourth quarter. Two Sigma Investments LP now owns 307,633 shares of the financial services provider’s stock worth $4,904,000 after acquiring an additional 119,069 shares during the last quarter. Millennium Management LLC boosted its position in Prudential by 15.5% during the fourth quarter. Millennium Management LLC now owns 356,748 shares of the financial services provider’s stock worth $5,687,000 after acquiring an additional 47,994 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its position in Prudential by 267.4% during the fourth quarter. BNP Paribas Financial Markets now owns 141,532 shares of the financial services provider’s stock worth $2,256,000 after acquiring an additional 103,005 shares during the last quarter. 1.90% of the stock is currently owned by institutional investors and hedge funds.

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.