Wall Street Zen Upgrades Prudential Public (NYSE:PUK) to Hold

Key Points

• Wall Street Zen upgraded Prudential Public (NYSE: PUK) from “sell” to “hold.” The stock’s overall analyst consensus is “Moderate Buy,” with an average target price of $39.30.
• PUK shares opened at $24.14, near the lower end of their 12-month range of $23.31 to $34.03. The company recently reported quarterly EPS of $0.58 on revenue of $3.90 billion.
• Institutional investors increased their holdings during the first quarter, though hedge funds and other institutions collectively own just 1.90% of Prudential Public’s stock.

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

Several other equities analysts have also recently commented on the stock. Zacks Research upgraded shares of Prudential Public from a "strong sell" rating to a "hold" rating in a research report on Monday, September 21st. Weiss Ratings reissued a "hold (c+)" rating on shares of Prudential Public in a research note on Friday, October 2nd. Finally, Berenberg Bank set a $39.30 target price on shares of Prudential Public and gave the stock 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's stock. According to data from MarketBeat.com, Prudential Public presently has an average rating of "Moderate Buy" and an average target price of $39.30.

Prudential Public Stock Up 0.3%

Shares of PUK opened at $24.14 on Friday. Prudential Public has a twelve month low of $23.31 and a twelve month high of $34.03. The company has a 50 day moving average of $26.34 and a 200-day moving average of $28.06.

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, sell-side analysts predict that Prudential Public will post 2.34 EPS for the current fiscal year.

Institutional Trading of Prudential Public

Hedge funds and other institutional investors have recently modified their holdings of the business. Bank of America Corp DE increased its stake in Prudential Public by 5.6% during the 1st quarter. Bank of America Corp DE now owns 4,470,630 shares of the financial services provider's stock valued at $127,100,000 after purchasing an additional 238,189 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Prudential Public by 9.3% in the first quarter. Dimensional Fund Advisors LP now owns 2,826,101 shares of the financial services provider's stock valued at $80,201,000 after acquiring an additional 240,416 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in Prudential Public by 13.9% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,397,352 shares of the financial services provider's stock worth $68,157,000 after acquiring an additional 292,677 shares in the last quarter. Quantinno Capital Management LP raised its position in shares of Prudential Public by 45.5% in the 1st quarter. Quantinno Capital Management LP now owns 638,516 shares of the financial services provider's stock worth $18,153,000 after acquiring an additional 199,548 shares in the last quarter. Finally, Assetmark Inc. lifted its position in shares of Prudential Public by 14,270.3% during the first quarter. Assetmark Inc. now owns 251,049 shares of the financial services provider's stock valued at $7,137,000 after buying an additional 249,302 shares during the last quarter. 1.90% of the stock is owned by hedge funds and other institutional investors.

About Prudential Public

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.