Prudential (NYSE:PUK) Reaches New 52-Week High - Time to Buy?

Shares of Prudential plc (NYSE:PUK - Get Free Report) hit a new 52-week high during trading on Tuesday . The stock traded as high as $23.01 and last traded at $22.90, with a volume of 1346387 shares traded. The stock had previously closed at $22.20.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on PUK shares. StockNews.com upgraded shares of Prudential from a "sell" rating to a "hold" rating in a research note on Saturday, March 22nd. Citigroup restated a "buy" rating on shares of Prudential in a report on Tuesday, April 1st. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy".

Prudential Stock Up 3.1%

The stock has a market cap of $29.91 billion, a price-to-earnings ratio of 9.87, a PEG ratio of 0.41 and a beta of 0.98. The stock has a 50 day simple moving average of $20.61 and a 200 day simple moving average of $17.98.

Prudential Increases Dividend

The company also recently announced a dividend, which will be paid on Wednesday, May 14th. Investors of record on Friday, March 28th will be issued a $0.3258 dividend. This is a boost from Prudential's previous dividend of $0.24. The ex-dividend date is Friday, March 28th. Prudential's dividend payout ratio (DPR) is currently 28.02%.

Institutional Trading of Prudential

Hedge funds and other institutional investors have recently bought and sold shares of the business. Smartleaf Asset Management LLC lifted its stake in shares of Prudential by 417.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,856 shares of the financial services provider's stock valued at $29,000 after buying an additional 1,497 shares in the last quarter. Whipplewood Advisors LLC bought a new position in Prudential in the 4th quarter valued at about $30,000. Advisors Preferred LLC bought a new position in Prudential in the 4th quarter valued at about $31,000. GAMMA Investing LLC boosted its stake in Prudential by 95.8% during the 4th quarter. GAMMA Investing LLC now owns 2,303 shares of the financial services provider's stock valued at $37,000 after purchasing an additional 1,127 shares during the last quarter. Finally, National Bank of Canada FI increased its holdings in Prudential by 52.6% during the 4th quarter. National Bank of Canada FI now owns 3,042 shares of the financial services provider's stock worth $48,000 after purchasing an additional 1,049 shares in 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.

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