Prudential Public (NYSE:PUK) Reaches New 52-Week Low - What's Next?

Key Points

• Prudential Public shares fell to a new 52-week low, reaching $23.31 during Wednesday trading before closing near $23.44, below its 50-day and 200-day moving averages.
• Analyst sentiment remains mixed, but the stock carries a consensus “Moderate Buy” rating with an average price target of $39.30, substantially above its current trading level.
• The company reported quarterly EPS of $0.58 on $3.90 billion in revenue and announced a $0.1776 dividend; institutional investors collectively own 1.90% of the stock.

Prudential Public Limited Company (NYSE:PUK - Get Free Report)'s stock price reached a new 52-week low during mid-day trading on Wednesday. The company traded as low as $23.31 and last traded at $23.4420, with a volume of 256443 shares. The stock had previously closed at $24.60.

Analyst Ratings Changes

PUK has been the subject of a number of analyst reports. Zacks Research raised shares of Prudential Public from a "strong sell" rating to a "hold" rating in a report on Monday, September 21st. Weiss Ratings reissued a "hold (c+)" rating on shares of Prudential Public in a research note on Friday. Wall Street Zen downgraded Prudential Public from a "hold" rating to a "sell" rating in a research report on Sunday. Finally, Berenberg Bank set a $39.30 price objective on Prudential Public and gave the company a "buy" rating in a research note on Thursday, September 3rd. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $39.30.

Prudential Public Stock Down 4.4%

The firm has a 50 day moving average of $27.20 and a 200-day moving average of $28.34.

Prudential Public (NYSE:PUK - Get Free Report) last released its quarterly earnings data 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. On average, analysts expect that Prudential Public Limited Company will post 2.34 EPS for the current year.

Prudential Public Dividend Announcement

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

Institutional Investors Weigh In On Prudential Public

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

Prudential Public Company Profile

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.

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