Prudential (NYSE:PUK) Sets New 1-Year High - Here's What Happened

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

Analysts Set New Price Targets

PUK has been the subject of several research analyst reports. Citigroup reaffirmed a "buy" rating on shares of Prudential in a report on Tuesday, April 1st. Morgan Stanley reaffirmed an "overweight" rating on shares of Prudential in a report on Tuesday, May 13th. Deutsche Bank Aktiengesellschaft raised Prudential from a "hold" rating to a "buy" rating in a report on Friday. Wall Street Zen raised Prudential from a "hold" rating to a "buy" rating in a report on Friday, May 30th. Finally, Barclays reissued an "overweight" rating on shares of Prudential in a report on Thursday, May 22nd. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy".

Prudential Stock Up 0.9%

The company has a market cap of $30.83 billion, a P/E ratio of 10.20, a PEG ratio of 0.41 and a beta of 1.02. The firm has a 50 day moving average of $21.54 and a 200-day moving average of $18.76.

Prudential Increases Dividend

The business also recently announced a dividend, which was paid on Wednesday, May 14th. Shareholders 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 (DPR) is 28.02%.

Institutional Trading of Prudential

Several hedge funds and other institutional investors have recently bought and sold shares of PUK. Causeway Capital Management LLC boosted its position in shares of Prudential by 10.1% in the 1st quarter. Causeway Capital Management LLC now owns 2,353,670 shares of the financial services provider's stock worth $50,604,000 after purchasing an additional 216,828 shares in the last quarter. Northern Trust Corp boosted its position in shares of Prudential by 8.3% in the 1st quarter. Northern Trust Corp now owns 1,878,126 shares of the financial services provider's stock worth $40,380,000 after purchasing an additional 144,354 shares in the last quarter. Bank of Montreal Can raised its stake in Prudential by 165.3% in the 4th quarter. Bank of Montreal Can now owns 1,554,255 shares of the financial services provider's stock worth $24,775,000 after acquiring an additional 968,317 shares during the last quarter. JPMorgan Chase & Co. grew its stake in 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 last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in 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 last quarter. 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.