Prudential Public (NYSE:PUK) Hits New 52-Week High – Here’s Why

Prudential Public Limited Company (NYSE:PUK) shares reached a new 52-week high on Monday . The stock traded as high as $28.79 and last traded at $28.7650, with a volume of 726092 shares changing hands. The stock had previously closed at $28.56.

Analysts Set New Price Targets

PUK has been the topic of several research reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Prudential Public in a report on Tuesday, October 14th. Morgan Stanley reaffirmed an “overweight” rating on shares of Prudential Public in a research note on Wednesday, October 29th. UBS Group reissued a “buy” rating on shares of Prudential Public in a research note on Thursday, August 28th. Barclays restated an “overweight” rating on shares of Prudential Public in a report on Monday, September 8th. Finally, Wall Street Zen cut Prudential Public from a “buy” rating to a “hold” rating in a report on Saturday, August 30th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

Prudential Public Stock Up 0.5%

The stock has a fifty day moving average price of $27.54 and a two-hundred day moving average price of $25.44.

Prudential Public Dividend Announcement

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in PUK. Cambridge Investment Research Advisors Inc. bought a new stake in Prudential Public in the 1st quarter worth about $216,000. Bank of New York Mellon Corp boosted its stake in shares of Prudential Public by 8.5% in the 1st quarter. Bank of New York Mellon Corp now owns 61,827 shares of the financial services provider’s stock worth $1,329,000 after buying an additional 4,837 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Prudential Public by 23.2% in the first quarter. Envestnet Asset Management Inc. now owns 784,201 shares of the financial services provider’s stock valued at $16,860,000 after acquiring an additional 147,575 shares in the last quarter. Cerity Partners LLC purchased a new stake in shares of Prudential Public during the first quarter valued at approximately $369,000. Finally, Ballentine Partners LLC lifted its holdings in Prudential Public by 78.1% during the first quarter. Ballentine Partners LLC now owns 18,168 shares of the financial services provider’s stock worth $391,000 after acquiring an additional 7,966 shares during the period. 1.90% of the stock is owned by institutional investors.

About Prudential Public

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.