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 Saturday.
Prudential Trading Up 2.8 %
Shares of NYSE PUK traded up $0.58 during trading on Friday, reaching $21.25. 1,043,998 shares of the company traded hands, compared to its average volume of 1,018,568. 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 simple moving average is $17.86 and its 200 day simple moving average is $17.08. Prudential has a 12-month low of $14.39 and a 12-month high of $21.34.
Prudential Increases Dividend
The company also recently announced a dividend, which will be paid on Wednesday, May 14th. Stockholders of record on Friday, March 28th will be issued a dividend of $0.3258 per share. This is a positive change from Prudential's previous dividend of $0.24. The ex-dividend date is Friday, March 28th. Prudential's payout ratio is 11.64%.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the company. JPMorgan Chase & Co. raised its holdings in Prudential by 353.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 293,210 shares of the financial services provider's stock worth $5,436,000 after purchasing an additional 228,499 shares during the period. GAMMA Investing LLC grew its holdings in Prudential by 95.8% in 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 during the period. ABC Arbitrage SA purchased a new stake in shares of Prudential in the fourth quarter valued at approximately $16,207,000. Point72 Asset Management L.P. acquired a new position in shares of Prudential during the 3rd quarter worth approximately $1,281,000. Finally, Barclays PLC purchased a new position in shares of Prudential during the 3rd quarter valued at approximately $556,000. Institutional investors and hedge funds 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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