Wall Street Zen Downgrades Prudential Public (NYSE:PUK) to Sell

Key Points

• Wall Street Zen downgraded Prudential Public to “Sell” from “Hold,” while Zacks Research issued a “Strong Sell” rating. Despite the negative calls, the broader analyst consensus remains “Moderate Buy” with a $39.30 target price.
• Prudential Public shares opened at $26.66, down 0.4%, and remain closer to their 52-week low of $24.61 than their high of $34.03. The stock’s 50-day and 200-day moving averages are $28.24 and $28.86, respectively.
• The company reported quarterly EPS of $0.58 on revenue of $3.90 billion, while analysts expect full-year EPS of $2.34. Institutional investors own a relatively small 1.90% stake in the company.

Prudential Public (NYSE:PUK - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued on Saturday, Wall Street Zen reports.

Other equities research analysts have also issued research reports about the company. Zacks Research lowered Prudential Public from a "hold" rating to a "strong sell" rating in a research note on Wednesday, August 19th. Berenberg Bank set a $39.30 price objective on shares of Prudential Public and gave the company a "buy" rating in a research report on Thursday, September 3rd. Morgan Stanley reiterated an "overweight" rating on shares of Prudential Public in a research note on Friday, May 15th. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of Prudential Public in a research report on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $39.30.

Prudential Public Trading Down 0.4%

Prudential Public stock opened at $26.66 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.03 and a quick ratio of 0.04. Prudential Public has a 1-year low of $24.61 and a 1-year high of $34.03. The business has a fifty day moving average price of $28.24 and a 200-day moving average price of $28.86.

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

Institutional Trading of Prudential Public

Several large investors have recently added to or reduced their stakes in the company. Manchester Capital Management LLC increased its holdings in shares of Prudential Public by 1,103.0% in the fourth quarter. Manchester Capital Management LLC now owns 794 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 728 shares during the period. Mcguire Capital Advisors Inc. acquired a new stake in shares of Prudential Public during the fourth quarter worth about $29,000. Integrated Wealth Concepts LLC purchased a new stake in Prudential Public in the second quarter valued at approximately $26,000. Allworth Financial LP boosted its position in Prudential Public by 47.0% in the fourth quarter. Allworth Financial LP now owns 1,502 shares of the financial services provider's stock valued at $47,000 after buying an additional 480 shares during the last quarter. Finally, Larson Financial Group LLC boosted its position in Prudential Public by 626.8% in the third quarter. Larson Financial Group LLC now owns 1,657 shares of the financial services provider's stock valued at $46,000 after buying an additional 1,429 shares during the last quarter. Hedge funds and other institutional investors own 1.90% of the company's stock.

About Prudential Public

Prudential plc is a United Kingdom-based international financial services group focused on life and health insurance, retirement solutions and related financial products. The company serves individuals and businesses through products that may include life insurance, medical and health coverage, savings and investment-linked policies, pensions and retirement planning solutions.

Prudential operates primarily in Asia and Africa, with markets including Hong Kong, mainland China, Indonesia, Malaysia, Singapore, Thailand, Vietnam and other countries in the region.

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