Prudential (NYSE:PUK) Reaches New 1-Year High - Still a Buy?

Prudential plc (NYSE:PUK - Get Free Report)'s stock price reached a new 52-week high on Wednesday . The stock traded as high as $24.38 and last traded at $24.32, with a volume of 665411 shares trading hands. The stock had previously closed at $23.79.

Analyst Ratings Changes

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

Prudential Price Performance

The business has a fifty day moving average of $22.02 and a 200 day moving average of $19.11. The stock has a market cap of $31.18 billion, a price-to-earnings ratio of 10.32, a P/E/G ratio of 0.41 and a beta of 1.02.

Prudential Increases Dividend

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

Institutional Trading of Prudential

Hedge funds and other institutional investors have recently made changes to their positions in the business. Geneos Wealth Management Inc. lifted its holdings in shares of Prudential by 86.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 3,683 shares of the financial services provider's stock valued at $79,000 after purchasing an additional 1,709 shares in the last quarter. Pinnacle Wealth Planning Services Inc. acquired a new position in shares of Prudential during the 1st quarter worth approximately $371,000. Vident Advisory LLC acquired a new position in shares of Prudential during the 1st quarter worth approximately $398,000. Evergreen Capital Management LLC increased its holdings in shares of Prudential by 20.0% during the 1st quarter. Evergreen Capital Management LLC now owns 16,840 shares of the financial services provider's stock worth $367,000 after acquiring an additional 2,810 shares during the last quarter. Finally, Causeway Capital Management LLC increased its position in Prudential by 10.1% during the first quarter. Causeway Capital Management LLC now owns 2,353,670 shares of the financial services provider's stock worth $50,604,000 after acquiring an additional 216,828 shares during the period. 1.90% of the stock is currently owned by institutional investors and hedge funds.

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.