Prudential (NYSE:PUK) Upgraded at StockNews.com

StockNews.com upgraded shares of Prudential (NYSE:PUK) from a sell rating to a hold rating in a research note issued to investors on Saturday morning.

Prudential Stock Performance

Prudential stock opened at $21.25 on Friday. Prudential has a fifty-two week low of $14.39 and a fifty-two week high of $21.26. The stock has a market cap of $27.96 billion, a P/E ratio of 9.16, a PEG ratio of 0.41 and a beta of 1.21. The firm’s fifty day moving average price is $17.86 and its 200-day moving average price is $17.08.

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 issued a $0.3258 dividend. The ex-dividend date of this dividend is Friday, March 28th. This is a boost from Prudential’s previous dividend of $0.24. Prudential’s dividend payout ratio (DPR) is presently 11.64%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Smartleaf Asset Management LLC grew its stake in Prudential by 417.0% in the 4th 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 in the last quarter. Whipplewood Advisors LLC purchased a new position in Prudential in the fourth quarter worth $30,000. Advisors Preferred LLC purchased a new position in Prudential in the fourth quarter worth $31,000. GAMMA Investing LLC raised 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 valued at $37,000 after purchasing an additional 1,127 shares in the last quarter. Finally, National Bank of Canada FI raised its position in Prudential by 52.6% during 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 purchasing an additional 1,049 shares in the last quarter. Hedge funds and other institutional investors own 1.90% of the company’s stock.

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.