StockNews.com Upgrades Prudential (NYSE:PUK) to Hold

StockNews.com upgraded shares of Prudential (NYSE:PUK) from a sell rating to a hold rating in a report published on Saturday morning.

Prudential Stock Performance

Shares of Prudential stock opened at $21.25 on Friday. Prudential has a 52-week low of $14.39 and a 52-week high of $21.26. The company has a fifty day moving average of $17.86 and a 200-day moving average of $17.08. The stock has a market capitalization of $27.96 billion, a price-to-earnings ratio of 9.16, 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. 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 dividend payout ratio is presently 11.64%.

Hedge Funds Weigh In On Prudential

Large investors have recently bought and sold shares of the stock. Smartleaf Asset Management LLC boosted its stake in shares of Prudential by 417.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,856 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 1,497 shares during the period. Whipplewood Advisors LLC bought a new position in shares of Prudential during the fourth quarter valued at about $30,000. Advisors Preferred LLC purchased a new stake in shares of Prudential during the fourth quarter worth about $31,000. GAMMA Investing LLC grew its stake in shares of Prudential by 95.8% in 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 during the last quarter. Finally, National Bank of Canada FI increased its holdings in Prudential by 52.6% during the 4th quarter. National Bank of Canada FI now owns 3,042 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 1,049 shares during the period. 1.90% of the stock is owned by hedge funds and other institutional investors.

About Prudential

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.