StockNews.com upgraded shares of Prudential (NYSE:PUK - Free Report) from a sell rating to a hold rating in a research report sent to investors on Wednesday.
Prudential Stock Up 2.2 %
PUK traded up $0.40 during trading on Wednesday, hitting $18.55. 595,219 shares of the stock traded hands, compared to its average volume of 848,233. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.22. Prudential has a 12-month low of $17.12 and a 12-month high of $29.25. The firm has a 50-day moving average of $18.98 and a 200 day moving average of $20.31.
Prudential Increases Dividend
The firm also recently announced a Semi-Annual dividend, which was paid on Thursday, May 16th. Stockholders of record on Tuesday, April 2nd were paid a dividend of $0.2842 per share. The ex-dividend date of this dividend was Monday, April 1st. This is a boost from Prudential's previous Semi-Annual dividend of $0.24.
Institutional Trading of Prudential
Large investors have recently added to or reduced their stakes in the stock. Causeway Capital Management LLC lifted its position in shares of Prudential by 42.1% in the 3rd quarter. Causeway Capital Management LLC now owns 1,328,428 shares of the financial services provider's stock worth $29,119,000 after purchasing an additional 393,374 shares during the period. Goldman Sachs Group Inc. boosted its position in Prudential by 15.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,011,551 shares of the financial services provider's stock valued at $45,159,000 after acquiring an additional 274,674 shares in the last quarter. Optiver Holding B.V. purchased a new position in shares of Prudential during the 4th quarter worth approximately $5,108,000. Ramirez Asset Management Inc. bought a new position in shares of Prudential in the 3rd quarter worth approximately $4,740,000. Finally, Envestnet Asset Management Inc. lifted its stake in shares of Prudential by 31.5% in the 3rd quarter. Envestnet Asset Management Inc. now owns 729,427 shares of the financial services provider's stock valued at $15,989,000 after purchasing an additional 174,838 shares during the period. Institutional investors own 1.90% of the company's stock.
About Prudential
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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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