Zacks Research Upgrades Prudential Public (NYSE:PUK) to Hold

Key Points

• Zacks Research upgraded Prudential Public to “hold” from “strong sell,” while analysts overall maintain a “Moderate Buy” consensus and a $39.30 target price.
• PUK shares opened at $25.83, near the lower end of their 12-month range of $24.61–$34.03, and remain below both their 50-day and 200-day moving averages.
• Prudential reported quarterly earnings of $0.58 per share on $3.90 billion in revenue; institutional investors own a relatively small 1.90% stake, though several firms recently increased their positions.

Prudential Public (NYSE:PUK - Get Free Report) was upgraded by Zacks Research from a "strong sell" rating to a "hold" rating in a research report issued on Monday, Zacks reports.

Several other brokerages have also recently issued reports on PUK. Wall Street Zen cut Prudential Public from a "hold" rating to a "sell" rating in a research report on Saturday, September 12th. Berenberg Bank set a $39.30 price objective on Prudential Public and gave the company a "buy" rating in a report on Thursday, September 3rd. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Prudential Public in a research note on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $39.30.

Prudential Public Price Performance

Prudential Public stock opened at $25.83 on Monday. Prudential Public has a 12-month low of $24.61 and a 12-month high of $34.03. The company has a current ratio of 0.03, a quick ratio of 0.04 and a debt-to-equity ratio of 0.22. The firm has a 50 day simple moving average of $28.01 and a 200-day simple moving average of $28.64.

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

Institutional Trading of Prudential Public

Large investors have recently added to or reduced their stakes in the business. WINTON GROUP Ltd boosted its position in shares of Prudential Public by 373.2% in the 2nd quarter. WINTON GROUP Ltd now owns 70,500 shares of the financial services provider's stock valued at $1,890,000 after purchasing an additional 55,600 shares during the period. Integrated Wealth Concepts LLC acquired a new stake in Prudential Public during the 2nd quarter worth about $26,000. Squarepoint Ops LLC acquired a new stake in Prudential Public during the 2nd quarter worth about $569,000. Corient Private Wealth LP raised its holdings in Prudential Public by 8.7% during the 2nd quarter. Corient Private Wealth LP now owns 15,939 shares of the financial services provider's stock worth $427,000 after buying an additional 1,276 shares during the period. Finally, Concurrent Investment Advisors LLC lifted its stake in Prudential Public by 8.8% during the second quarter. Concurrent Investment Advisors LLC now owns 14,354 shares of the financial services provider's stock valued at $385,000 after buying an additional 1,156 shares in the last quarter. 1.90% of the stock is currently owned by institutional investors.

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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