Prudential (NYSE:PUK) Sets New 1-Year High - What's Next?

Shares of Prudential plc (NYSE:PUK - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $24.64 and last traded at $24.49, with a volume of 1040544 shares. The stock had previously closed at $23.96.

Wall Street Analyst Weigh In

Several analysts have recently commented on PUK shares. Barclays reissued an "overweight" rating on shares of Prudential in a research note on Thursday, May 22nd. Citigroup reissued a "buy" rating on shares of Prudential in a research note on Tuesday, April 1st. Wall Street Zen raised Prudential from a "hold" rating to a "buy" rating in a research note on Saturday, June 7th. Morgan Stanley reiterated an "overweight" rating on shares of Prudential in a research report on Tuesday, May 13th. Finally, Deutsche Bank Aktiengesellschaft raised Prudential from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of "Buy".

Prudential Trading Up 2.2%

The business's fifty day simple moving average is $22.14 and its 200 day simple moving average is $19.18. The stock has a market cap of $31.88 billion, a price-to-earnings ratio of 10.55, a price-to-earnings-growth ratio of 0.41 and a beta of 1.02.

Prudential Increases Dividend

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

Institutional Investors Weigh In On Prudential

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PUK. Smartleaf Asset Management LLC lifted its stake in 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 during the period. Whipplewood Advisors LLC acquired a new position in Prudential in the fourth quarter valued at about $30,000. Bruce G. Allen Investments LLC lifted its stake in Prudential by 70.4% in the first quarter. Bruce G. Allen Investments LLC now owns 2,759 shares of the financial services provider's stock valued at $59,000 after buying an additional 1,140 shares during the period. SVB Wealth LLC acquired a new position in Prudential in the first quarter valued at about $60,000. Finally, National Bank of Canada FI lifted its stake in Prudential by 52.6% in the fourth quarter. National Bank of Canada FI now owns 3,042 shares of the financial services provider's stock valued at $48,000 after buying an additional 1,049 shares during the period. 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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