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

Prudential Public Limited Company (NYSE:PUK) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $29.86 and last traded at $29.9260, with a volume of 139820 shares trading hands. The stock had previously closed at $29.10.

Analyst Upgrades and Downgrades

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

Prudential Public Trading Up 2.9%

The firm has a 50-day moving average of $28.18 and a 200 day moving average of $26.56.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in PUK. Bessemer Group Inc. grew its holdings in Prudential Public by 59.9% during the third quarter. Bessemer Group Inc. now owns 1,012 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 379 shares during the period. Westside Investment Management Inc. grew its stake in shares of Prudential Public by 70.7% during the 3rd quarter. Westside Investment Management Inc. now owns 1,070 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 443 shares during the period. Assetmark Inc. increased its holdings in Prudential Public by 448.0% in the 3rd quarter. Assetmark Inc. now owns 1,633 shares of the financial services provider’s stock worth $46,000 after acquiring an additional 1,335 shares in the last quarter. Larson Financial Group LLC raised its stake in Prudential Public by 626.8% during the 3rd quarter. Larson Financial Group LLC now owns 1,657 shares of the financial services provider’s stock worth $46,000 after acquiring an additional 1,429 shares during the period. Finally, Smartleaf Asset Management LLC raised its stake in Prudential Public by 38.1% during the 1st quarter. Smartleaf Asset Management LLC now owns 2,563 shares of the financial services provider’s stock worth $55,000 after acquiring an additional 707 shares during the period. 1.90% of the stock is owned by hedge funds and other institutional investors.

Prudential Public 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.