Prudential Public (NYSE:PUK) Stock Bumped Down to "Sell" by Wall Street Zen

Key Points

• Wall Street Zen downgraded Prudential Public from “hold” to “sell,” although broader analyst sentiment remains more positive, with a consensus “Moderate Buy” rating and a $39.30 price target.
• PUK opened at $24.56, near its 52-week low of $24.25 and below its 50-day and 200-day moving averages of $27.39 and $28.41, respectively.
• Prudential Public reported quarterly earnings of $0.58 per share on $3.90 billion in revenue; institutional investors and hedge funds own approximately 1.90% of the company.

Prudential Public (NYSE:PUK - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued to investors on Sunday, Wall Street Zen reports.

Other equities research analysts have also issued research reports about the stock. Zacks Research upgraded shares of Prudential Public from a "strong sell" rating to a "hold" rating in a research note on Monday, September 21st. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Prudential Public in a report on Monday, July 6th. Finally, Berenberg Bank set a $39.30 target price on shares of Prudential Public and gave the company a "buy" rating in a research report on Thursday, September 3rd. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Prudential Public has an average rating of "Moderate Buy" and a consensus price target of $39.30.

Prudential Public Price Performance

NYSE PUK opened at $24.56 on Friday. The business's 50-day moving average price is $27.39 and its 200 day moving average price is $28.41. Prudential Public has a 52-week low of $24.25 and a 52-week high of $34.03.

Prudential Public (NYSE:PUK - Get Free Report) last released its earnings results on Friday, August 14th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter. The company had revenue of $3.90 billion during the quarter. On average, equities analysts forecast that Prudential Public will post 2.34 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Versant Capital Management Inc lifted its stake in shares of Prudential Public by 19.1% in the third quarter. Versant Capital Management Inc now owns 18,956 shares of the financial services provider's stock worth $469,000 after buying an additional 3,044 shares during the last quarter. WINTON GROUP Ltd raised its holdings in Prudential Public by 373.2% in the 2nd quarter. WINTON GROUP Ltd now owns 70,500 shares of the financial services provider's stock worth $1,890,000 after acquiring an additional 55,600 shares during the period. Integrated Wealth Concepts LLC acquired a new position in Prudential Public during the 2nd quarter worth $26,000. Squarepoint Ops LLC bought a new stake in Prudential Public during the second quarter valued at about $569,000. Finally, Corient Private Wealth LP grew its position in shares of Prudential Public by 8.7% in the second quarter. Corient Private Wealth LP now owns 15,939 shares of the financial services provider's stock valued at $427,000 after purchasing an additional 1,276 shares during the last quarter. Institutional investors and hedge funds own 1.90% of the company's stock.

Prudential Public Company Profile

Prudential plc NYSE: PUK is an international insurance and financial services company headquartered in London. The company focuses on serving customers in Asia and Africa, providing financial protection and long-term savings solutions through its insurance and asset management businesses.

Its principal products and services include life insurance, health and medical coverage, savings and investment products, retirement planning, and wealth management. Prudential distributes its offerings through agency networks, bancassurance partnerships, brokers, and digital channels, serving individuals, families, and businesses.

Founded in 1848, Prudential has developed a substantial presence across markets including Hong Kong, mainland China, Indonesia, Malaysia, Singapore, Thailand, Vietnam, the Philippines, Taiwan, and selected African countries.

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