Cerity Partners LLC Takes Position in Prudential Public Limited Company (NYSE:PUK)

Key Points

• Cerity Partners LLC acquired a new position in Prudential Public Limited Company, purchasing 17,142 shares valued at approximately $369,000 in the 1st quarter.
• Multiple hedge funds, including JPMorgan Chase & Co. and Bank of Montreal, significantly increased their stakes in Prudential Public during the 4th quarter, indicating growing institutional interest.
• Analysts have shifted their ratings on Prudential Public, with multiple firms including Wall Street Zen and Deutsche Bank upgrading their ratings to "buy", contributing to a consensus rating of "Buy."

Cerity Partners LLC acquired a new stake in Prudential Public Limited Company (NYSE:PUK - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The fund acquired 17,142 shares of the financial services provider's stock, valued at approximately $369,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bruce G. Allen Investments LLC boosted its holdings in shares of Prudential Public by 70.4% in the first quarter. Bruce G. Allen Investments LLC now owns 2,759 shares of the financial services provider's stock worth $59,000 after acquiring an additional 1,140 shares during the period. National Bank of Canada FI grew its holdings in Prudential Public by 52.6% during the 4th quarter. National Bank of Canada FI now owns 3,042 shares of the financial services provider's stock valued at $48,000 after buying an additional 1,049 shares in the last quarter. Cetera Trust Company N.A increased its position in shares of Prudential Public by 60.8% during the first quarter. Cetera Trust Company N.A now owns 5,620 shares of the financial services provider's stock valued at $121,000 after buying an additional 2,125 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Prudential Public by 182.6% in the first quarter. GAMMA Investing LLC now owns 6,508 shares of the financial services provider's stock worth $140,000 after buying an additional 4,205 shares in the last quarter. Finally, Parallel Advisors LLC boosted its position in shares of Prudential Public by 28.8% in the first quarter. Parallel Advisors LLC now owns 7,162 shares of the financial services provider's stock valued at $154,000 after acquiring an additional 1,602 shares during the period. 1.90% of the stock is currently owned by institutional investors.

Prudential Public Price Performance

PUK traded down $0.36 during trading on Wednesday, reaching $24.82. The stock had a trading volume of 1,315,815 shares, compared to its average volume of 802,158. The business has a 50-day moving average of $24.26 and a 200-day moving average of $21.07. Prudential Public Limited Company has a one year low of $14.39 and a one year high of $25.58. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.04 and a current ratio of 0.04. The stock has a market cap of $32.04 billion, a PE ratio of 10.70, a PEG ratio of 0.72 and a beta of 1.03.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PUK. Barclays reaffirmed an "overweight" rating on shares of Prudential Public in a report on Thursday, May 22nd. Wall Street Zen upgraded Prudential Public from a "hold" rating to a "buy" rating in a research report on Saturday, June 7th. Deutsche Bank Aktiengesellschaft raised Prudential Public from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Morgan Stanley reiterated an "overweight" rating on shares of Prudential Public in a research report on Tuesday, May 13th. Finally, Citigroup restated a "buy" rating on shares of Prudential Public in a research report on Tuesday, April 1st. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Buy".

About Prudential Public

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.