Prudential (NYSE:PUK) Sets New 52-Week High - Still a Buy?

Prudential plc (NYSE:PUK - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $23.54 and last traded at $23.45, with a volume of 37609 shares changing hands. The stock had previously closed at $23.17.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft raised Prudential from a "hold" rating to a "buy" rating in a research report on Friday. Barclays reaffirmed an "overweight" rating on shares of Prudential in a research report on Thursday, May 22nd. Citigroup reissued a "buy" rating on shares of Prudential in a research report on Tuesday, April 1st. Wall Street Zen raised Prudential from a "hold" rating to a "buy" rating in a research report on Saturday. Finally, Morgan Stanley reissued an "overweight" rating on shares of Prudential in a research report on Tuesday, May 13th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of "Buy".

Prudential Trading Up 1.2%

The business has a 50-day moving average price of $21.58 and a 200 day moving average price of $18.83. The stock has a market cap of $30.91 billion, a PE ratio of 10.23, a PEG ratio of 0.41 and a beta of 1.02.

Prudential Increases Dividend

The company also recently declared a dividend, which was paid on Wednesday, May 14th. Stockholders of record on Friday, March 28th were given a dividend of $0.3258 per share. The ex-dividend date was Friday, March 28th. This is a boost from Prudential's previous dividend of $0.24. Prudential's dividend payout ratio is currently 28.02%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Causeway Capital Management LLC lifted its position in shares of Prudential by 10.1% during the 1st quarter. Causeway Capital Management LLC now owns 2,353,670 shares of the financial services provider's stock valued at $50,604,000 after buying an additional 216,828 shares during the last quarter. Northern Trust Corp lifted its position in shares of Prudential by 8.3% during the 1st quarter. Northern Trust Corp now owns 1,878,126 shares of the financial services provider's stock valued at $40,380,000 after buying an additional 144,354 shares during the last quarter. Bank of Montreal Can raised its stake in shares of Prudential by 165.3% during the 4th quarter. Bank of Montreal Can now owns 1,554,255 shares of the financial services provider's stock valued at $24,775,000 after purchasing an additional 968,317 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Prudential by 321.8% during the 4th quarter. JPMorgan Chase & Co. now owns 1,236,697 shares of the financial services provider's stock valued at $19,713,000 after purchasing an additional 943,487 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of Prudential by 1,133.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,051,231 shares of the financial services provider's stock valued at $16,757,000 after purchasing an additional 965,985 shares during the period. Hedge funds and other institutional investors own 1.90% of the company's stock.

Prudential Company Profile

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.