Prudential (NYSE:PUK) Sets New 52-Week Low - Here's Why

Prudential plc (NYSE:PUK - Get Free Report)'s share price hit a new 52-week low on Tuesday . The company traded as low as $14.39 and last traded at $14.54, with a volume of 1338857 shares. The stock had previously closed at $14.64.

Wall Street Analyst Weigh In

PUK has been the topic of several analyst reports. StockNews.com lowered shares of Prudential from a "hold" rating to a "sell" rating in a research note on Monday, November 25th. Barclays upgraded shares of Prudential to a "strong-buy" rating in a research report on Tuesday, October 15th.

Prudential Trading Up 1.2 %

The company's 50-day moving average price is $16.07 and its two-hundred day moving average price is $16.98. The company has a market cap of $19.56 billion, a P/E ratio of 7.29, a price-to-earnings-growth ratio of 0.46 and a beta of 1.20.

Hedge Funds Weigh In On Prudential

Hedge funds have recently modified their holdings of the stock. Point72 Asset Management L.P. acquired a new position in Prudential in the 3rd quarter worth about $1,281,000. Bank of Montreal Can raised its position in Prudential by 15.0% during the second quarter. Bank of Montreal Can now owns 795,969 shares of the financial services provider's stock valued at $15,418,000 after acquiring an additional 103,625 shares in the last quarter. Crossmark Global Holdings Inc. lifted its stake in Prudential by 47.6% in the third quarter. Crossmark Global Holdings Inc. now owns 110,551 shares of the financial services provider's stock valued at $2,049,000 after acquiring an additional 35,668 shares during the last quarter. StoneX Group Inc. bought a new stake in Prudential in the third quarter worth approximately $5,090,000. Finally, HighTower Advisors LLC raised its holdings in shares of Prudential by 98.2% during the 3rd quarter. HighTower Advisors LLC now owns 40,722 shares of the financial services provider's stock valued at $758,000 after purchasing an additional 20,180 shares in the last quarter. 1.90% of the stock is currently owned by institutional investors and hedge funds.

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.