Prudential (NYSE:PUK) Downgraded to Sell Rating by StockNews.com

StockNews.com cut shares of Prudential (NYSE:PUK) from a hold rating to a sell rating in a research report report published on Friday.

Prudential Price Performance

Shares of NYSE:PUK opened at $19.69 on Friday. The business’s 50-day moving average is $17.22 and its 200 day moving average is $16.94. Prudential has a 1 year low of $14.39 and a 1 year high of $21.10. The firm has a market capitalization of $25.96 billion, a P/E ratio of 8.48, a P/E/G ratio of 0.41 and a beta of 1.21.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of PUK. JPMorgan Chase & Co. boosted its stake in shares of Prudential by 353.1% in the third quarter. JPMorgan Chase & Co. now owns 293,210 shares of the financial services provider’s stock worth $5,436,000 after buying an additional 228,499 shares during the last quarter. GAMMA Investing LLC boosted 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 buying an additional 1,127 shares during the last quarter. ABC Arbitrage SA purchased a new stake in shares of Prudential in the fourth quarter worth about $16,207,000. Point72 Asset Management L.P. purchased a new stake in shares of Prudential in the third quarter worth about $1,281,000. Finally, Barclays PLC purchased a new stake in shares of Prudential in the third quarter worth about $556,000. 1.90% of the stock is owned by institutional investors and hedge funds.

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.