Prudential Public (NYSE:PUK) Stock Rating Cut to “Sell” at Wall Street Zen

Wall Street Zen cut shares of Prudential Public (NYSE:PUK) from a hold rating to a sell rating in a report issued on Sunday morning,Wall Street Zen reports.

A number of other analysts have also recently commented on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of Prudential Public in a report on Monday, July 6th. Zacks Research raised Prudential Public from a “strong sell” rating to a “hold” rating in a report on Monday, September 21st. Finally, Berenberg Bank set a $39.30 price target on Prudential Public and gave the stock a “buy” rating in a report on Thursday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.30.

Prudential Public Trading Down 0.1%

Prudential Public stock opened at $24.56 on Friday. Prudential Public has a 12-month low of $24.25 and a 12-month high of $34.03. The business’s 50-day moving average price is $27.39 and its two-hundred day moving average price is $28.40.

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

Prudential Public Announces Dividend

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

Hedge Funds Weigh In On Prudential Public

A number of hedge funds have recently made changes to their positions in the stock. Integrated Wealth Concepts LLC purchased a new stake in shares of Prudential Public during the 2nd quarter worth $26,000. Caitong International Asset Management Co. Ltd increased its holdings in Prudential Public by 2,583.2% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,549 shares of the financial services provider’s stock valued at $79,000 after acquiring an additional 2,454 shares in the last quarter. Strategic Investment Advisors MI purchased a new stake in shares of Prudential Public in the first quarter valued at $166,000. Rockefeller Capital Management L.P. grew its stake in Prudential Public by 179.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 5,612 shares of the financial services provider’s stock worth $175,000 after acquiring an additional 3,604 shares during the period. Finally, West Family Investments Inc. purchased a new position in Prudential Public during the fourth quarter worth about $218,000. Hedge funds and other institutional investors own 1.90% of the company’s stock.

Prudential Public Company Profile

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.