Prudential (NYSE:PUK) Shares Gap Down - Here's Why

Prudential plc (NYSE:PUK - Get Free Report) shares gapped down before the market opened on Monday . The stock had previously closed at $17.64, but opened at $17.24. Prudential shares last traded at $17.29, with a volume of 91,055 shares changing hands.

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Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft downgraded shares of Prudential from a "buy" rating to a "hold" rating in a report on Monday, August 5th. Barclays upgraded shares of Prudential to a "strong-buy" rating in a research note on Tuesday, October 15th. BNP Paribas raised Prudential from a "neutral" rating to an "outperform" rating in a report on Wednesday, June 26th. Finally, StockNews.com raised Prudential from a "sell" rating to a "hold" rating in a research note on Wednesday, August 28th.

View Our Latest Stock Analysis on PUK

Prudential Trading Down 3.1 %

The business's 50-day moving average is $17.36 and its 200-day moving average is $18.13.

Prudential Cuts Dividend

The company also recently disclosed a Semi-Annual dividend, which will be paid on Wednesday, October 23rd. Investors of record on Friday, September 6th will be given a $0.1368 dividend. The ex-dividend date is Friday, September 6th.

Institutional Investors Weigh In On Prudential

Institutional investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC grew its holdings in Prudential by 45.9% during the second quarter. EverSource Wealth Advisors LLC now owns 2,222 shares of the financial services provider's stock valued at $40,000 after purchasing an additional 699 shares during the period. Bruce G. Allen Investments LLC acquired a new stake in Prudential during the 2nd quarter worth $44,000. Blue Trust Inc. lifted its holdings in Prudential by 202.2% during the second quarter. Blue Trust Inc. now owns 2,699 shares of the financial services provider's stock worth $52,000 after acquiring an additional 1,806 shares in the last quarter. Russell Investments Group Ltd. grew its stake in Prudential by 98.0% in the first quarter. Russell Investments Group Ltd. now owns 2,712 shares of the financial services provider's stock valued at $52,000 after acquiring an additional 1,342 shares during the period. Finally, Allspring Global Investments Holdings LLC bought a new stake in shares of Prudential in the first quarter worth about $75,000. 1.90% of the stock is owned by institutional investors and hedge funds.

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About Prudential

(Get Free Report)

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.

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