Prudential (NYSE:PUK) Shares Gap Up – Still a Buy?

Prudential plc (NYSE:PUK)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $20.22, but opened at $20.93. Prudential shares last traded at $21.08, with a volume of 139,057 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Citigroup restated a “buy” rating on shares of Prudential in a research report on Tuesday, April 1st. StockNews.com raised Prudential from a “sell” rating to a “hold” rating in a report on Saturday, March 22nd. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy”.

Prudential Trading Up 3.4 %

The company has a market cap of $27.45 billion, a PE ratio of 9.02, a price-to-earnings-growth ratio of 0.41 and a beta of 1.00. The stock has a fifty day simple moving average of $19.40 and a two-hundred day simple moving average of $17.51.

Prudential Increases Dividend

The business also recently announced a dividend, which will be paid on Wednesday, May 14th. Shareholders of record on Friday, March 28th will be given a dividend of $0.3258 per share. This is a positive change from Prudential’s previous dividend of $0.24. The ex-dividend date of this dividend is Friday, March 28th. Prudential’s payout ratio is presently 28.02%.

Institutional Trading of Prudential

Several hedge funds and other institutional investors have recently made changes to their positions in PUK. Smartleaf Asset Management LLC grew its position in Prudential by 417.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,856 shares of the financial services provider’s stock worth $29,000 after buying an additional 1,497 shares during the period. Whipplewood Advisors LLC acquired a new stake in shares of Prudential in the 4th quarter worth approximately $30,000. Advisors Preferred LLC purchased a new position in Prudential in the 4th quarter valued at approximately $31,000. GAMMA Investing LLC boosted its position in Prudential by 95.8% during the fourth quarter. GAMMA Investing LLC now owns 2,303 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 1,127 shares in the last quarter. Finally, National Bank of Canada FI increased its position in shares of Prudential by 52.6% in the fourth quarter. National Bank of Canada FI now owns 3,042 shares of the financial services provider’s stock valued at $48,000 after buying an additional 1,049 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.