Prudential plc (NYSE:PUK - Get Free Report) shares hit a new 52-week high during trading on Monday . The stock traded as high as $21.11 and last traded at $21.19, with a volume of 8619 shares trading hands. The stock had previously closed at $20.67.
Analysts Set New Price Targets
Separately, StockNews.com upgraded Prudential from a "sell" rating to a "hold" rating in a research note on Saturday, March 22nd.
Get Our Latest Research Report on Prudential
Prudential Price Performance
The stock has a market cap of $28.29 billion, a P/E ratio of 9.27, a PEG ratio of 0.41 and a beta of 1.21. The stock has a 50-day simple moving average of $18.26 and a 200-day simple moving average of $17.18.
Prudential Increases Dividend
The business also recently declared a dividend, which will be paid on Wednesday, May 14th. Investors of record on Friday, March 28th will be issued a dividend of $0.3258 per share. The ex-dividend date is Friday, March 28th. This is a positive change from Prudential's previous dividend of $0.24. Prudential's payout ratio is 28.02%.
Hedge Funds Weigh In On Prudential
Several institutional investors and hedge funds have recently added to or reduced their stakes in PUK. Northern Trust Corp grew its stake in shares of Prudential by 2.0% during the fourth quarter. Northern Trust Corp now owns 1,733,772 shares of the financial services provider's stock worth $27,636,000 after buying an additional 34,344 shares during the last quarter. Bank of Montreal Can boosted its holdings in shares of Prudential by 165.3% during the 4th quarter. Bank of Montreal Can now owns 1,554,255 shares of the financial services provider's stock valued at $24,775,000 after acquiring an additional 968,317 shares in the last quarter. JPMorgan Chase & Co. grew its position in Prudential by 321.8% during the 4th quarter. JPMorgan Chase & Co. now owns 1,236,697 shares of the financial services provider's stock worth $19,713,000 after acquiring an additional 943,487 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Prudential by 1,133.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,051,231 shares of the financial services provider's stock worth $16,757,000 after purchasing an additional 965,985 shares in the last quarter. Finally, ABC Arbitrage SA bought a new position in Prudential in the fourth quarter valued at about $16,207,000. Institutional investors own 1.90% of the company's stock.
Prudential Company Profile
(
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.
Further Reading
Before you consider Prudential, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Prudential wasn't on the list.
While Prudential currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
