Engineers Gate Manager LP Sells 48,716 Shares of Prudential Public Limited Company $PUK

Key Points

• Engineers Gate Manager LP cut its Prudential Public stake by 67.9% in the second quarter, selling 48,716 shares and retaining 23,020 shares valued at approximately $617,000.
• Analyst sentiment is mixed: MarketBeat reports a consensus “Moderate Buy” rating and a $39.30 target price, despite downgrades from Wall Street Zen and Zacks Research.
• Prudential Public reported quarterly EPS of $0.58 on $3.90 billion in revenue, while its shares opened at $26.29 and traded within a 12-month range of $24.61 to $34.03.

Engineers Gate Manager LP decreased its stake in shares of Prudential Public Limited Company (NYSE:PUK - Free Report) by 67.9% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 23,020 shares of the financial services provider's stock after selling 48,716 shares during the period. Engineers Gate Manager LP's holdings in Prudential Public were worth $617,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Integrated Wealth Concepts LLC bought a new stake in Prudential Public during the second quarter worth about $26,000. Squarepoint Ops LLC purchased a new stake in Prudential Public during the second quarter valued at about $569,000. Corient Private Wealth LP grew its stake in shares of Prudential Public by 8.7% during the second quarter. Corient Private Wealth LP now owns 15,939 shares of the financial services provider's stock valued at $427,000 after buying an additional 1,276 shares during the last quarter. Concurrent Investment Advisors LLC grew its stake in shares of 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 during the last quarter. Finally, Rehmann Capital Advisory Group bought a new position in shares of Prudential Public during the second quarter valued at about $249,000. Institutional investors own 1.90% of the company's stock.

Analyst Upgrades and Downgrades

PUK has been the subject of several recent research reports. Weiss Ratings reiterated a "hold (c+)" rating on shares of Prudential Public in a research report on Monday, July 6th. Wall Street Zen cut shares of Prudential Public from a "hold" rating to a "sell" rating in a research report on Saturday, September 12th. Zacks Research downgraded shares of Prudential Public from a "hold" rating to a "strong sell" rating in a research note on Wednesday, August 19th. Finally, Berenberg Bank set a $39.30 target price on shares of Prudential Public and gave the stock a "buy" rating in a report on Thursday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $39.30.

Prudential Public Stock Performance

Shares of PUK stock opened at $26.29 on Tuesday. Prudential Public Limited Company has a 12 month low of $24.61 and a 12 month high of $34.03. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.04 and a current ratio of 0.03. The company's fifty day moving average price is $28.06 and its 200-day moving average price is $28.67.

Prudential Public (NYSE:PUK - Get Free Report) last announced its quarterly earnings data 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 for the quarter. Equities analysts expect that Prudential Public Limited Company will post 2.34 earnings per share for the current year.

Prudential Public Dividend Announcement

The company also recently declared a dividend, which will be paid on Thursday, October 22nd. Investors of record on Friday, September 11th will be paid a $0.1776 dividend. The ex-dividend date is Friday, September 11th. This represents a yield of 133.0%.

Prudential Public Company Profile

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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